Ma Yin Marriage Yintai Questioned Sincerity

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< p > in addition to the strategic investment of HK $5 billion 368 million, Ma did not pour all the offline resources of Alibaba group into the joint venture set up by both sides, and only put the O2O operations of 37 department stores with its cooperation into the scope of the joint venture company.

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< p >, therefore, no matter whether in March 31st the first time came out of the joint layout of Ma Yun and Shen Guojun O2O, or in June 9th, Yintai commercial disclosed the details of "Ma Shen love" cooperation, there was no positive reaction in the capital market.

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< p > < strong > Ali holds a 80.1% stake in the joint venture company < /strong > < /p >

< p > Yintai business will set up a joint venture with Alibaba group under the online to offline (hereinafter referred to as O2O), the latter holding 80.1%, and the remaining 19.9% stake will be held by Yintai business.

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< p > March 30th, the first cooperation agreement announced by the two sides revealed that Alibaba group will use HK $5 billion 368 million as a strategic investment to promote this cooperation.

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< p > June 9th, Yintai business announced that in the investment of HK $5 billion 368 million, about HK $1 billion 500 million was used to coordinate O2O business and pan channel strategy, so as to create an efficient and convenient shopping experience. About HK $1 billion 68 million was used for general operating capital, both of which amounted to about 2 billion 568 million Hong Kong dollars, representing 47.84% of total capital ratio.

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< p > in addition, about HK $700 million is used to open stores and expand the retail business network of Yintai business group; about HK $1 billion is used to acquire high-quality assets and / or retail business to supplement the retail business of Yintai group; about HK $1 billion 100 million is used to repay or repay the existing debt in advance, but it will not be used to repay or repay debts owed to any shareholders in advance.

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< p > announcement did not disclose the name of the joint venture company.

From the cooperation content of both sides, we will make use of the professional experience, resources and infrastructure of Yintai business group's network in China, as well as investor's leading business platform and consumer data analysis capabilities, to develop O2O business in China, including shopping centers, department stores and supermarkets.

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< p > the structure of the board of directors of the joint venture company, Yintai business has a share of 19.9% of the shareholding board, a seat of the board of directors of the joint venture company, and the other two seats of the board of directors belong to the Alibaba group.

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< p > according to the agreement, the O2O business operation platform of Alibaba group's shopping center and department store in China can only be a joint venture established by both sides.

Brand monopoly stores and other business O2O business platforms are not subject to this restriction.

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< p > by the end of 2013, Yintai business had operated 36 stores, including 28 department stores and 8 shopping centers.

In terms of consumption data, after 16 years of operation, Yintai business has nearly 10 million commodity data database systems and 1 million 500 thousand member membership systems.

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< p > through cooperation, Yintai business hopes to provide a more convenient and convenient shopping experience.

The joint venture will explore opportunities to expand its O2O business in the Chinese market, including shopping centers, department stores and supermarkets, so as to promote Yintai business group's Pan channel strategy leading to leading consumer solutions providers.

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< p > Yintai commercial said that the so-called pan channel strategy is mainly reflected in the "Pan channel sales mode".

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< p > according to the twenty-first Century network reporter, the two sides will invest in the joint venture's business resources and funds, through the offline commodity library and online sales platform to open up the membership system and payment system sharing and other business links, and build the joint venture into the main platform for developing O2O business, and create a pan channel sales mode by integrating online and offline information about consumers and commodities.

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< p > < strong > Yintai business hopes rapid pformation < /strong > /p >

< p > four years ago, as a traditional retail giant, Yintai business group wanted to develop online trading platform and cooperate with Ma Yun to achieve the pformation of business mode through the O2O closed loop form.

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< p > Yintai business was established in 1988, and its main business is department store.

In March 20, 2007, Yintai business was listed on the stock exchange of Hongkong.

At present, Yintai business is mainly engaged in commercial real estate and general merchandise retail business. Its main business is the three commercial complexes of Yintai Mall, Yintai Center and Yintai city. It has 36 stores in dozens of cities across the country, and it belongs to the forefront of China's 100 cargo lock industry alliance with Wanda group and Wangfujing.

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< p > October 2010, Yintai business startup mode pformation strategy attempt.

In order to achieve the goal of creating a convenient and fast shopping experience through the integration of multi-channel and cross channel product supply and the creation of a convenient and fast shopping experience, the Yintai business group has set up its own online shopping platform, Yintai.com.

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< p > 2013, 10-11, in order to promote the integration of online to offline business development, improve customer shopping experience and jointly develop mobile payment and value-added customer service for offline stores, it has formed strategic partnership with Tmall (Tmall.com) and Alipay purse (Alipay Wallet), and formally put forward the development of O2O format and established the direction of pformation.

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In March this year, Shen Guojun, chairman of Yintai business group, who had good personal relations with Ma Yun, participated in the cooperation with Alibaba group, P.

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< p > according to Shen Guojun, the joint venture set up by both sides will take Yintai business as the leading factor and cooperate with Yintai's own e-commerce business. The two sides will complete the docking of the membership system, payment system and commodity system, and the ultimate goal is to explore the traditional model of online retailing.

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The P mode will eventually be able to "open up to the whole society and serve all the major commercial groups, retail brands and retailers under the line".

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< p > earlier, Alibaba group COO Zhang Yong talked about the way of cooperation with Yintai business group. First, he hoped to open up the user system of both sides, and completely connect Alipay 600 million users and Taobao 300 million -4 users with Yintai commercial customers; secondly, through mobile payment to complete the online and offline interchanges, the consumption of offline data can be combined with the data accumulated by Taobao and Tmall; finally, it can move Yintai commercial 7 million products storehouse to online consumer service.

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< p > through this strategic cooperation, Alibaba group and Yintai business group will build a basic system to open up online and offline businesses, and realize online pactions, affiliate marketing and membership services seamlessly.

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< p > < strong > Ma Yun only injected a small part of resources < /strong > /p >

< p > although the announcement by Yintai business said that the O2O business of the joint venture company established by both sides was dominated by itself, but from the perspective of ownership structure and board seat composition, Alibaba group would not be a shopkeeper, and the type of joint venture established by both sides should not be limited to the current control of Yintai business.

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Less than P, so what resources will Alibaba Group invest in addition to huge amounts of money? In fact, the resources that Alibaba group owns at present is quite abundant, but the resources of joint venture companies are very limited.

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< p > at present, the offline partners of Alibaba group include the joy city of retailing, Wangfujing, Hualian Group and new world department store, small south country, grandmother's home and leopard in the catering industry, the cash box of the entertainment industry and the hall of good luck, including the Wanda and Jinyi, and the real estate industry in Longhu.

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Less than P, the number of industries involved is: 37 department stores, 1500 brand counters, 230 KTV, 288 theaters and 800 restaurants.

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< p > according to the cooperation agreement disclosed in June 9th, "the O2O business operation platform of Alibaba group's shopping center and department store in China can only be a joint venture established by both sides.

Brand monopoly stores and other business O2O business platforms are not subject to this restriction.

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< p > > therefore, < a href= "http://www.91se91.com/" > Alibaba group < /a > the joint venture company has only 37 department stores and O2O operation business of Longhu real estate name shopping center.

It is not hard to see that in addition to HK $5 billion 368 million, Alibaba group has only produced a small part of its resources and has been included in the scope of cooperation between the two sides.

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P may see this fact, so the capital market is indifferent to the O2O cooperation between Yintai business and Alibaba group.

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< p > according to the past law, where Ma Yun appears, or with which company, the capital market will surge, and the stock price of related companies soar rapidly.

But this time, whether in March 31st or June 9th, the stock's "a href=" http://www.91se91.com/ "Ma Yun < /a > effect" did not appear.

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< p > March 31st, Yintai business closed down 7.53%, at HK $8.35.

Since then, its share price has been dropping all the way. By June 9th, Yintai Commerce announced details of its cooperation with Alibaba group O2O, but its share price closed down 2.84%, at HK $7.19.

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"P", since the two sides announced the implementation of strategic cooperation for the first time since March 31st, Yintai commercial shares fell 13.89%. Perhaps it shows that the capital market has doubts about the "Ma Shen Shen" and is not optimistic about the new format of intime department store. So Ma Yun's signboard effect can not be reflected in the stock price.

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