What Is The Future Of The Tens Of Billions Of Cross-Border Mergers And Acquisitions Ma Yun Is Gambling?

< p > < strong > Hao throw more than 70 billion? < /strong > /p >

< p > MA a href= "http://? www.91se91.com/news/index_c.asp" > acquisition "/a" UC superior has spent $4 billion or $5 billion. Until now, neither side has disclosed.

But it is certain that this figure has set the record of China's Internet mergers and acquisitions.

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< p > but for Ali and Ma Yun, this is only part of its huge merger and acquisition plan.

According to statistics from the equity investment finance database, the company acquired more than 12 companies from 1 to June in 2014, and the total amount of mergers and acquisitions was close to RMB 30 billion yuan.

If we calculate the amount of nearly 20 billion yuan spent in 2013 and bought shares such as Qingdao Haier (600690.SH), Celestica fund, Gao de map, Sina micro-blog and other companies, nearly two years later, Ma and Alibaba's funds for the acquisition will be conservatively estimated to exceed RMB 70 billion yuan.

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< p > although in the history of the world's M & A, a single acquisition of more than 5 billion US dollars is not uncommon. Over the past two years, there are not many companies that use more than $10 billion to expand. Even in the last ten years of twentieth Century, the merger and acquisition of food companies and the acquisition of computer enterprises by the auto group in the European and American Diversified mergers and acquisitions took place frequently. However, such as < a href= "http:// www.91se91.com/news/index_c.asp" > Ali < /a > the scope of M & A is wide, and there are few precedents involved in the industry.

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< p > from < a href= "http:// www.91se91.com/news/index_c.asp" > Internet < /a > enterprises, fund companies, film production companies to football clubs, from drug sales enterprises, financial technology enterprises, postal enterprises to financial media, Alibaba is like an octopus, which penetrated tentacles into all kinds of traditional industries.

At the end of June 2014, Ma Yun became a shareholder in China Unicom, and there was a riot in the capital market. Then there were rumors that Ma was planning to raise cattle and will invest in the livestock company under Yili.

Similar rumors are heard, the story is true and false, and the industry involved is very different.

Is Ma Yun not afraid of indigestion? < /p >

< p > "when Alibaba is listed, it is the best time for the company."

A fund manager of an international investment bank told the China operation newspaper that all acquisitions of Ma Yun are providing imagination for the valuation of the listing. "He needs a bigger plate, which looks more promising."

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< p > < strong > for whose imagination? < /strong > < /p >

< p > from the prospectus provided by Ali and the subsequent documents, the 2C business, including Taobao advertising mode and Tmall Commission mode, is the core source of its revenue, accounting for more than seven or eight of the total revenue. The domestic electricity supplier is still the most profitable format.

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< p > but in many research institutions, the domestic online shopping market has gradually become stable.

For example, AI consulting data show that the size of the 2C e-commerce paction scale growth has entered the 20%~30% interval, the growth rate will continue to decline, by 2017, the growth rate will fall to 17.4% level.

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< p > another data shows that the main source of Alibaba revenue is the total turnover of goods (GMV) into the advertising and commission income of the electricity supplier.

In short, customers and businesses have to pay a certain percentage of Commission for each paction through Taobao or Tmall.

The proportion of GMV conversion to income at present is about 2.3%~3% (Ai Rui consulting research data), but with the increasing competition of domestic electricity providers, capital industry analysts believe that the data will be closer to the more mature international electricity supplier eBay. In 2013, the ratio of eBay total turnover to revenue was about 1.8%.

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< p > according to the prospectus updated by Ali, in the first quarter of 2014, the total volume of commodity trading in China's retail market dropped to 430 billion yuan from 529 billion yuan in the same period in 2013.

Ali's gross profit margin fell to 45.3% from 51.3% last year.

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< p > "as far as the electricity supplier is concerned, the capital market has clearly predicted the growth of Ali."

The fund managers said that the capital market needs a more attractive imagination.

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"P >, therefore, most of Ali's acquisitions have clear intentions.

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< p > acquisition of UC is because UC browser is the largest mobile browser in China, and is said to occupy the largest share of mobile browsing in India.

In mobile era, Ali needs more traffic.

Acquisition of High German map, because this is the largest navigation software in China.

After opening up, Ali's merchants can achieve the goal of merging online and offline through the location of their location entities.

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< p > < strong > Ali assets are no longer "light"? < /strong > /p >

Part of P's acquisition of Ma Yun is very large in the eyes of capitals.

"Why is Alibaba making more money than other domestic electricity providers? A very important reason is its light asset model."

A domestic electricity supplier analyst said that compared with Jingdong's investment in logistics, former Ali did not have this pressure, cost effective control, coupled with huge cash flow, let Alibaba "familiar with the road".

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< p > but Ma Yun has 6 billion 200 million Hong Kong dollars in cultural China, 5 billion 400 million shares in Yintai department store, 1 billion 200 million stake in Hengda football club, plus 249 million US dollars for Singapore Post, and then established rookie logistics, thereby hoarding land.

Ali's assets are no longer light, and Ma Yun's empire is in all walks of life.

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< p > this really brings a lot of imagination, such as how to integrate pan culture enterprises into Internet Finance and e-commerce circulation to international logistics enterprises.

But these industries need to be nurtured for a long time, and do Alibaba have the ability and energy to successfully integrate the industries with great span into the Internet? < /p >

< p > Ma Yun's thinking is very clear.

In previous years' internal meeting, he has made it clear that B2C business is the first runner in Ali's relay race. The second clubs are Taobao and Alipay, third sticks are big data, and fourth rods will be financial, logistics and other businesses.

But the acquisition of nearly 15 billion yuan, in addition to Singapore Post, and Ma Yun's direction does not seem to be related.

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P, a Singapore based international fund company trader, said: "once the mode of online culture is correctly identified, it will be another Tmall."

The person said, the most important thing is that its investment in 2014 shares of cross industry enterprises, or the industry leader, or strong challengers, have a good business performance, Ali many investments have been involved in the role of strategic partners, do not operate, and future development will not cause financial pressure on the Ali Empire.

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< p > observe Ma's investment strategy carefully. He usually shares shares first and feels that Target Corp has enough bright future before attempting to hold shares.

For example, before the Celestica fund, Ali and Celestica launched cooperation in June 2013 after the balance of treasure, until May 2014, only 51% of Ali's holdings.

The acquisition of Gao de software is also the mode. First, in 2013, it became a shareholder of the High German company with more than 294 million US dollars, and it was brought into the market in May 2014 only under 1 billion 100 million US dollars.

UC's merger is no exception.

The above fund trader said: "with Ali's current capital flow, Ma can bet on a future with tens of billions of dollars."

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