SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
May 29, 2018
Commission File Number: 001-36614
Alibaba Group Holding Limited
(Registrants name)
c/o Alibaba Group Services Limited
26/F Tower One, Times Square
1 Matheson Street
Causeway Bay
Hong Kong
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F x Form 40-F o
Indicate by check mark if the registrant is submitting the Form 6-K on paper as permitted by Regulation S-T Rule 101(b)(1): o
Indicate by check mark if the registrant is submitting the Form 6-K on paper as permitted by Regulation S-T Rule 101(b)(7): o
EXHIBITS
Exhibit 99.1 Press Release Alibaba Group Announces Consolidation of Healthcare Categories into Alibaba Health
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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ALIBABA GROUP HOLDING LIMITED | |
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Date: May 29, 2018 |
By: |
/s/ Maggie Wei WU |
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Name: |
Maggie Wei WU |
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Title: |
Chief Financial Officer |
FOR IMMEDIATE RELEASE
Alibaba Group Announces Consolidation of Healthcare
Categories into Alibaba Health
Hangzhou, China May 29, 2018 Alibaba Group Holding Limited (Alibaba Group) (NYSE: BABA) today announced it has reached an agreement to sell certain healthcare categories from its Tmall Pharmacy to Alibaba Health Information Technology Ltd. (HKEx: 0241, Alibaba Health). In exchange, Alibaba Group will receive HK$10.6 billion worth of newly issued shares of Alibaba Health.
Alibaba Group currently has a 48.1% economic interest and controls 61.5% of the voting interest of Alibaba Health. Upon completion of the transaction, Alibaba Groups equity ownership and voting interest of Alibaba Health will increase to 56.2% and 67.5%, respectively.
This transaction is the latest step in implementing Alibaba Groups Double H strategy, which aims to promote Health and Happiness as a strategic focus. Alibaba Group will benefit from Alibaba Healths specialized healthcare ecosystem and its superior expertise in providing omni-channel services to merchants on Tmall Pharmacy.
This integration will leverage Alibaba Healths strengths to provide end-to-end healthcare solutions and services to customers that will ultimately accelerate Alibaba Groups overall expansion in Chinas fast growing healthcare sector. Merchants on Tmall Pharmacy will be able to be more closely connected with consumers and other healthcare ecosystem participants, enhancing their customer retention and new sales opportunities. Alibaba Healths strong analytical capabilities will elevate overall consumer experience with frequent engagement and broader healthcare product offerings.
The categories to be sold from Tmall Pharmacy to Alibaba Health are medical devices and healthcare products, adult products and medical and healthcare services. These categories represented RMB20.6 billion (US$ 3.2 billion) of gross merchandise value (GMV) in the fiscal year ended March 31, 2018 and had over 3,300 merchants on the platform.
Daniel Zhang, Chief Executive Officer of Alibaba Group said, Healthcare is a strategically important area for Alibaba Group with strong growth potential. This transaction is a logical evolution for the continued development of Alibaba Health into our healthcare flagship platform. Alibaba Healths knowledge and network in combination with Alibaba Groups consumer insights and technology will enable us to create the best healthcare ecosystem in China.
Leo Shen, Chief Executive Officer of Alibaba Health said, Alibaba Group has been very supportive to the development of Alibaba Health as the groups flagship platform in the healthcare sector. The transaction strengthens Alibaba Healths market leadership and recognizes our contribution to the healthcare industry in China. It will allow us to expand our business by adding more complementary categories and enabling us to have deeper engagement with more participants.
The healthcare industry in China is expected to grow rapidly in the coming years in order to meet the rising demand for higher quality medical and healthcare services. According to Frost & Sullivan, the total healthcare expenditure in China is expected to grow from RMB4.6 trillion in 2016 to RMB11.4 trillion in 2026, at a CAGR of 9.4%.
Completion of the transaction is subject to customary closing conditions including, among others, approval of the transaction by independent shareholders of Alibaba Health and the Hong Kong Stock Exchange.
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About Alibaba Group
Alibaba Groups mission is to make it easy to do business anywhere. The company aims to build the future infrastructure of commerce. It envisions that its customers will meet, work and live at Alibaba, and that it will be a company that lasts at least 102 years.
Media Contact
Katie Lee
+852 9728 0979
k.lee@alibaba-inc.com
Rachel Chan
+ 852 9400 0979
rachelchan@alibaba-inc.com
Safe Harbor Statements
This announcement contains forward-looking statements. These statements are made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as will, expects, aim, anticipates, future, intends, plans, believes, may, estimates, potential, continue, ongoing, goal, targets, guidance, commits and similar statements. Among other things, statements that are not historical facts, including statements about Alibaba Groups investment plans, the completion of the transaction and the strategic goals of the investment, are or contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the possibility that the various closing conditions for the transaction may not be satisfied or waived or that the intended strategic goals may not be achieved. All information contained in this announcement is as of the date of this announcement and are based on assumptions that Alibaba Group believes to be reasonable as of this date. You should not rely upon these forward-looking statements as predictions of future events. Alibaba Group does not undertake any obligation to update any forward-looking statement, except as required under applicable law.