Zhejiang Cainiao Acquires 6% Stake in 4PX with SAMR Approval

China's State Administration for Market Regulation (SAMR) approved Zhejiang $Cainiao Smart Logistics Network Limited (810537.HK)$'s acquisition of 5.9459% of the equity in Shenzhen 4PX Information Technology, a major international freight forwarder. This was part of a capital increase agreement.

With this transaction, Zhejiang Cainiao now holds 50.9459% of 4PX's equity, securing sole control over the company. This move is expected to strengthen Cainiao's global logistics capabilities as it integrates further into the international supply chain.