Acquisition Of Hang Seng Group Approved Ma Yun "Data Empire" Is Now Rudiment

Along with ALI listing, there is good news in China.

According to sources, Ma's acquisition of Hang Seng Electronics (600570.SH) was approved by the Ministry of Commerce, which was examined by the Anti Monopoly Bureau of the Ministry of Commerce.

This means that Ma will become the actual controller of Hang Seng group and indirectly control the Hang Seng electronics company.

Some analysts said Ali will have a bigger role in the field of Internet finance.

After joining the Hang Seng group, the financial data of Hang Seng group is developing in the logistics data of the rookie network. The data of many enterprises served by Ali cloud and the electricity supplier data on Ali platform, Ma Yun has already set up a prototype of "data Empire" after the "electric business empire".

In March 17th this year, Alibaba announced the launch of the IPO to the US.

On the same day, Hang Seng electronic stock suspension.

Then in April 3rd, Hang Seng Electronics announced that the 17 shareholders of the Hang Seng group, the controlling shareholder of the company, had signed the equity purchase agreement with Zhejiang Rongxin Network Technology Co., Ltd., and the Zhejiang fusion letter, which was personally owned by Ma Yun, was granted a 100% stake in Hang Seng group by 3 billion 299 million yuan in cash.

After the completion of the paction, Zhejiang Rongxin will hold Hang Seng electronics 20.62% stake in Hang Seng group and become the controlling shareholder of Hang Seng electronics.

But at that time, the announcement also said that the paction needed to be approved by the Ministry of Commerce.

"Although the two sides signed the" share purchase agreement ", the completion of all the 100% acquisition of the Hang Seng group needs to meet the contractual conditions stipulated by the two sides, including the approval of the Ministry of Commerce on the declaration of the concentration of business operators, and there is uncertainty in whether the Ministry of commerce can obtain approval and the time of final approval.

After 4 months of investigation, the regulatory authorities believe that this will not restrict or eliminate competition in related industries.

Statistics show that Zhejiang financial letter was founded in 2003, Ma Yun individual shareholding ratio of 99.14%, the rest of the shares by Ali capital managing director and

Group vice president Xie Shihuang holds, but there is no equity relationship between Zhejiang Rongxin and Alibaba group.

Established in 1995, Hang Seng electronics is the largest IT supplier of traditional financial institutions in China. Its listing in 2003 is the only fully licensed IT service company that can provide a comprehensive solution in related fields.

And other financial institutions to provide solutions for application software.

Its market share has exceeded 80% in funds, securities, insurance and banking financial services platforms.

The deal sparked widespread controversy in the financial industry.

Traditional financial circles believe that Ma Yun indirectly controlled the Hang Seng electronics through the acquisition, which is equivalent to mastering the data of most financial institutions, which will bring great benefits to the Internet financial services that Alibaba is determined to do.

Insiders told the first Financial Daily reporters that in the face of the vigorous development of Internet finance, the traditional financial industry has felt a little threat. Besides, behind this acquisition is Alibaba, one of the three most prominent BAT giants in the financial field.

But Hang Seng electronics explained in the announcement that Zhejiang's fusion letter and its affiliates are not competing with Hang Seng electronics's core business, and the domestic financial industry's application software and services market is fully competitive, with low concentration and low barriers to entry. Therefore, it believes that the acquisition will not generate monopoly competition in the field of financial application software and related IT services.

Liu Shufeng, executive director and CEO, has previously publicly stated that Hang Seng electronics only provides IT software services to financial institutions, and will not operate and manage them on behalf of them.

At present, Ali is still in the state of preparation, and is regarded as the fastest growing business of Ali. Its business has covered areas such as payment, small loan, insurance, guarantee and so on.

The main body of the Alibaba's landing on the NYSE did not include financial related businesses.

At the same time, relying on Ali cloud services, Ali's imagination in the financial big data will attract the attention of the industry.