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Alibaba withdrew from Minmetals, a steel B2B company, after holding 44%

via:博客园     time:2020/3/18 15:16:30     readed:437

This article is from WeChat Public Numbe

Alibaba recently withdrew from Minmetals Electronic Commerce Co., Ltd.(hereinafter referred to as Minmetals Electronic Commerce Co., Ltd.), according to company intelligence expert Financial Graffiti

Sky eye check data show, march 12, iron and steel e-commerce company minmetals e-commerce co., ltd. a number of industrial and commercial changes. Among them, Hangzhou Ali Venture Investment Co., Ltd .(hereinafter referred to as


On November 28, 2015, Minmetals development (SH: 600058) announced that it would increase the capital of its subsidiary Minmetals e-commerce, and at the same time, it introduced Ali venture capital and the employee incentive platform of Minmetals e-commerce, Beijing hailiyuanli investment management center, to participate in the capital increase. Among them, Alibaba venture capital invested RMB 316.8 million to hold 44% of the equity of Minmetals e-commerce after the capital increase.

On December 2 of the same year, Minmetals Development and Alibaba held a cooperation conference. Zhang Yong, then CEO of Alibaba Group, said:


It is worth noting that Minmetals e-commerce operating platform

Perhaps Alibaba has been out for some time.

Notably, after 2015, the market environment in domestic B2B e-commerce on a daily basis, with B2B e-commerce among them


From 2011 to 2017, the company has completed at least six rounds of financing with Jingwei China, IDG capital, Huaxing capital, Sequoia Capital, Xianfeng Changqing, Zhenge fund and other well-known domestic VC investors, with a total financing amount of more than 2 billion yuan.

In June 2018, the company formally submitted its prospectus to the HKEx and heard it through the HKEx in December. On may 10,2019, a steel mesh was announced

At that time, according to the prospectus, the first half of 2018 revenue of Zhaogang was 8.742 billion yuan, with a loss of 1.285 billion yuan. Among them, the revenue of the self operating mode was 8.589 billion yuan, accounting for 98.25% of the total revenue. Such a high proportion of the self operating mode also became the biggest controversy at that time.

On December 30, 2019, Moby, the domestic chemical e-commerce platform, was successfully listed on Nasdaq, becoming the first industrial Internet company in China to enter the US stock market. Moby's offering price was $5.38, and although it rose more than 100% on its first day of listing, two months later, its share price has plummeted to $1.62.

In other words, the domestic B2B e-commerce platform has not yet been recognized by the capital market.

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