Home Business Reading financial reports in 2 minutes | New battlefield?Ali plans to invest in public travel involving two A-share companies

Reading financial reports in 2 minutes | New battlefield?Ali plans to invest in public travel involving two A-share companies

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In the evening of November 17,Public transportationIts Volkswagen Travel welcomes a heavyweight “passenger”.

Public transportation,PublicShuangshuang issued an announcement stating that in order to further promote the development of existing and planned businesses, Volkswagen Travel plans to increase its capital and shares to introduce investor Ali. After the capital increase is completed, Ali will hold a 10% stake in Volkswagen Travel.

According to the agreement, Ali will invest a total of 40 million yuan in Volkswagen Travel in two phases after reaching the conditions of the relevant agreement.

What is the appeal of mass travel? Why does Ali want to buy shares?

Public information shows that the public travel app is an app launched by the public transportation on March 30, 2016.

Just before Ali’s capital increase and shareholding, the original shareholders of Volkswagen Travel made fine-tuning. On November 11, Dazhong Public and Dazhong Transportation and Dazhong Enterprise Management signed a “Share Transfer Agreement” in Shanghai. Dazhong Public transferred its 21% shares of Dazhong Travel, or 52.5 million shares, to Dazhong Transportation and Dazhong Enterprise Management. Among them, Dazhong Transportation received 30 million shares, and Volkswagen Enterprise Management received 22.5 million shares. Since Volkswagen Public has not yet paid the actual capital contribution to the above 21% shares, the transfer price is 0 yuan.

After the share transfer, Dazhong Public holds 35 million shares of Dazhong Travel, accounting for 14% of Dazhong Travel’s total shares; Dazhong Transportation holds 130 million shares of Dazhong Travel, accounting for 52% of Dazhong Travel’s total shares; Dazhong Enterprise Management holds Dazhong Travel 85 million shares, accounting for 34% of the total shares of Volkswagen Travel.

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After the capital increase is completed, Alibaba (China) Network Technology Co., Ltd. and/or its designated related parties will hold 10% of the equity of Volkswagen Travel. Equivalent to a post-investment valuation of 400 million yuan.

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Editor in charge: Wei Xiaodan

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