On September 26, Alibaba announced on the Hong Kong Stock Exchange that the company intends to spin off Cainiao by listing Cainiao shares independently on the main board of the Hong Kong Stock Exchange.。After the completion of the proposed spin-off, Alibaba will continue to hold more than 50% of Cainiao's shares, and Cainiao will remain a subsidiary of Cainiao.。That night, the Hong Kong Stock Exchange website information shows that Cainiao has officially submitted a listing application to the Hong Kong Stock Exchange, becoming the first business group to officially enter the IPO process after Alibaba's "1 + 6 + N"。Cainiao is the world's largest cross-border e-commerce logistics company, Cainiao launched an IPO is considered to be in the sprint "global smart logistics first share"。