Cainiao Launches Second Entrepreneurship Bonus Incentive Scheme

$Alibaba (BABA.US)$ 's logistics arm, Cainiao $Cainiao Smart Logistics Network Limited (810537.HK)$ , has withdrawn its Hong Kong listing application and unveiled plans to acquire minority shareholders' stakes for up to US$3.75 billion. Simultaneously, the company has initiated a second entrepreneurship bonus incentive scheme for its employees, as per internal documents cited by Chinese media.

Under this scheme, regular Cainiao employees can expect a year-end bonus in April 2025, followed by an additional bonus of equal value in August of the same year. The scheme aims to cover all regular employees receiving a year-end bonus at the specified time, including those on monthly or quarterly bonus structures.

Wan Lin, CEO of Cainiao, emphasized Alibaba Group's unwavering support for Cainiao's global expansion strategy, indicating a commitment to bolstering the company's growth trajectory.