In recent years has been drastic reform Shanghai yuantong Express Limited (hereinafter referred to as “yuantong express”), is striving to become the first Chinese private express companies. On February 26, the express industry person told the reporter that, yuantong express Lixin accounting firms have been commissioned for its offering of shares and listing provides a full range of financial services, yuantong Express listed the first stages of due diligence work in full swing, goes the end of 2015 can be implemented in the a-share IPO.
Yuantong express internal executives confirmed to the reporter, yuantong express listing is under way, is receiving listing guidance.
These people told the reporter that, as early as two years ago, yuantong began counting express network assets, for joint-stock reform, while advancing management reforms, net direct rate reached 50%. To listing, yuantong express IPO management group also set up, as early as last year, Lixin accounting firm had stationed yuantong express early research. This year, Lixin accounting firm signed a formal cooperation agreement with yuantong Express, on March 1, the formal due diligence investigations.
“We doing all preparation work for yuantong express IPO. “Yuantong express said a Vice President to the reporter, this work began as early as 2011 layout, and strive to make flexible courier became China’s first private courier companies.
In 2000, yuantong Express was established in Shanghai. At present, the yuantong 8 district were established throughout the country, more than 64 hubs, more than 6,000 distribution outlets, with more than 100,000 employees, serves over internally over more than 1600 cities air mastery over more than 70 cities.
Yuantong express one Executive had told the reporter that, as online shopping blowout, the business volume of the company annual growth rate in excess of 60%, accounting for 15% of express courier business. In 2011, the yuantong express business volume reached 550 million, up incrementing 70%, turnover of 8 billion in 2012 and express business is expected to reach 900 million.
For the purpose of listing, yuantong express on the one hand in the provincial capital of central cities in these two years vigorously pursued reform of direct, on the other hand also enhanced transfer centers, information throughout the network infrastructure. Only work with IBM to implement flexible delivery information at a cost of 600 million Yuan.
In addition, yuantong express the quest for talent everywhere, specializes in capital operation of professional manager Qi Jianmin were dug to yuantong express served as Vice President. Qi Jianmin told reporter said yuweijiao origin express “Tonglu help”, but officers take drastic measures, have been Deus Ex in the express delivery industry, out of the low end price competitive ambition.
At present, yuantong Express is working to develop airline, plans to invest 5.5 billion yuan in Zhejiang Xiaoshan airport metro to build the national aviation headquarters, and completed in 5 years. In 2013, the yuantong express air cargo plans to increase to 8 aircraft, carrying capacity of 400 tons.
With them, sophisticated air base is also in development. Yuantong has bought 100 acres of land at Tianhe airport in Wuhan, and shows in eight cities, including Beijing, Shanghai, Shenzhen set up flexible air base.
“Yuantong Express over the next decade will supply 20 cargo aircraft of the size of their fleets. “Qi Jianmin said flexible start-up airline plans will not change, but may advance has slowed. Yuantong had intensive applied to the civil aviation authority established airlines, is still waiting for approval.
Direct reform and IPO
“Flexible listing, must improve the quality of services. “Chief Adviser Xu of the China express Advisory Network believes that tact to resolve this issue, first to complete direct changes. Current flexible hub cities across the country to achieve a direct, capital city of all direct marketing also takes time, and third-tier cities to join direct takes longer.
Flexible start the beginning of a lack of funding and lack of experience does not work with shop direct, had to choose to join the expanding mode.
Through the franchise model rapidly spread the network’s flexible to address financial issues, and shentong, zhongtong and romantic charm of experiencing same problem, network distribution, such as instability, porous, this is because the headquarters could not be for two or three-class franchise becomes binding, the nobility to join on their own, seizing market and lead to a vicious circle of low price.
Express industry sources, 2011 yuantong Express has developed “yuantong incorporation trilogy”. First, the assessment of viability was weak or inappropriate franchisees, taking or giving a partial stake in compensation or integration of Headquarters, or to exit the system. Second, the next 2-3 years, the capital city of all direct management; third, yuantong express in the future as a group, became the capital of all group branches, possession of shares of the Corporation. Branch and regional equity replacement franchisee appropriately towards “direct with your” combined mode.
Xu believed that, because the franchisee as a separate company, cannot be flexible headquarters and direct the company’s financial statements are incorporated, if listed, flexible packaging only Headquarters as well as the quality of direct network asset listing.
However, yuantong express direct the course of reform, encountering a lot of resistance. Last year, yuantong express in Fuzhou City, Fujian shop once paralyzed, because in the process of direct negotiations, franchisees significant differences with flexible interest. This contradiction also appeared in two or three other direct line city in the reform process.
“Flexible and complete direct reforms not years to complete. “Xu believed that, because of the big trees have deep roots, franchisees have growing interests intertwined. But the only all direct Shun Feng express company as early as in 1999, pushing your right to, braving the risks of business failures, in three years ‘ time your right to success, laid the first brand of domestic private courier.
“Flexible development better, really need the money. “Xu believes that air express, transit center construction of infrastructure construction, information technology, direct marketing reforms require a lot of money, this is the power of flexible IPO.