Posts filtered by tags: STO Express[x]


 

A former Alibaba driver set fire to himself amid growing concerns about Chinese labor laws

Alibaba founder Jack Ma in January 2018. Wang HE/Getty Images A delivery driver set himself on fire following a pay dispute with a partner of Alibaba subsidiary Ele.me, reported Tuesday. "I want my blood and sweat money back," driver Liu Jin said in videos of the incident. He now has medical bills of more than 1 million yuan ($150,000). In December, a 22-year-old Chinese tech worker died. Her death was widely attributed to the "996" work culture that dominates the industry. Visit Busines...
Tags: Apple, News, China, US, Trends, Walmart, Beijing, Hsbc, Alibaba, Retail, Food Delivery, Workers Rights, Jack Ma, Weibo, Ele.me, Liu


An Alibaba driver set fire to himself amid growing concerns about Chinese labor laws

Alibaba founder Jack Ma in January 2018. Wang HE/Getty Images A delivery driver set himself on fire following a pay dispute with a partner of Alibaba subsidiary Ele.me, reported Tuesday. "I want my blood and sweat money back," driver Liu Jin said in videos of the incident. He now has medical bills of more than 1 million yuan ($150,000). In December, a 22-year-old Chinese tech worker died. Her death was widely attributed to the "996" work culture that dominates the industry. Visit Busines...
Tags: Apple, News, China, US, Trends, Walmart, Beijing, Hsbc, Alibaba, Retail, Food Delivery, Workers Rights, Jack Ma, Weibo, Ele.me, Liu


Alibaba strikes $700m deal to gain stronghold in China's delivery sector

Alibaba’s plans to dominate China’s delivery sector received a boost after the e-commerce giant struck a $693m (£530m) deal with courier company STO Express. The investment will see Alibaba take a 14pc stake in STO, which it has called “one of the top five express delivery companies in China”. Alibaba has backed a string of domestic businesses specialising in logistics and delivery, including YTO Express Group, Best Inc and ZTO Express, which it led a $1.4bn investment in back in 2018. The compa...
Tags: News, China, Beijing, Xi Jinping, Alibaba, Taobao, STO, Cainiao, ZTO Express, STO Express, China Logistics, YTO Express Group Best Inc, EOA Alibaba


Alibaba invests $693 million for stake in Chinese courier STO Express

Shares in STO Express shot up when trading opened and immediately hit the upper 10 percent limit on the Shenzhen Stock Exchange, according to Refinitiv data. STO Express said in a statement on Monday its controlling shareholder planned to set up a new subsidiary that will own a 29.9 percent stake in the courier firm. Alibaba will in turn invest 4.66 billion yuan ($693.44 million) for a 49 percent stake in the new subsidiary, and by extension hold more than 14 percent of STO Express, the statem...
Tags: News, Alibaba, Shenzhen Stock Exchange, STO Express


Chinese logistics firm Best, backed by Alibaba, launches $930 million U.S. IPO: Reuters

Best Inc, a Chinese logistics company backed by Alibaba Group (BABA.N), is launching a U.S. IPO that is seeking about $930 million to fund an expansion of its supply chain network, develop new technology and open more convenience stores. The Hangzhou-based company, led by Johnny Chou, a former Greater China president for Alphabet Inc’s (GOOGL.O) Google, plans to list on the New York stock exchange and the IPO is expected to value Best at up to $5.7 billion. The company had in June said it aimed ...
Tags: New York, China, Ipo, Trends, IPOs, Best, Alibaba, Ads, Hangzhou, Reuters, Goldman Sachs Group Inc, U S Securities and Exchange Commission, Alphabet Inc, Greater China, Chou, STO Express


Amazing Chinese Robotic Mail-Sorting Facility

Global shipping company Shentong Express (a/k/a STO) is China's answer to UPS. To increase efficiency—and cut human staff—they've designed this rather amazing facility consisting of a huge open floor punctuated by a grid of square holes that open onto chutes. Human beings pull parcels off of a conveyor belt and place them on the robots, which then do most of the work. Check out the traffic: China's People's Daily states that "The company estimates its robotic sorting system is saving around...
Tags: Videos, Design, Technology, Organization, China, Hangzhou, Object Culture, STO, South China Morning Post, Shentong Express, STO Express