BEIJING, April 27 (Xinhua) -- Chinese intelligent terminal distributor Shenzhen Aisidi Co., Ltd. (Aisidi, 002416.SZ) announced on Sunday that it mulls to introduce the tech giant Alibaba Group as a strategic investor through non-public offering to further improve its overall strength.
The company plans to raise a total of no more than 407 million yuan of investment from Alibaba, which will hold more than five percent of the company's shares upon completion of the non-public offering, according to Aisidi's filing to the Shenzhen Stock Exchange.
As Alibaba has a leading global online trading platform and strategic resources such as online traffic, channels, and brands, coupled with its advantages in the areas of Internet, artificial intelligence and financial technology, it can facilitate the digital upgrading of Aisidi's supply and marketing system, said the announcement.
Based on its industry experience, technologies and data capabilities, Alibaba can also help Aisidi realize the digital transformation of distribution system.
The two sides have signed a strategic cooperation agreement to jointly work on digitalized distribution business and new retail business in the field of intelligent terminals, such as computers, communication devices, and consumer electronics.
Last year, Aisidi saw a robust growth in its main businesses of intelligent terminal distribution, financial and supply chain services, intelligent retail and communication services, bagging a total revenue of 55.97 billion yuan, according to the company's 2019 annual report. (Edited by Su Dan with Xinhua Silk Road, silviasu07@163.com)
A single purchase
