Caizhong News Agency, December 30th - Baozun E-commerce (09991/BZUN) announced that it will continue to engage in ongoing related party transactions with Alibaba Group, covering logistics services and marketing platform services. According to the announcement, Baotong Limited is 63% owned by the company and 37% owned by Cainiao, therefore Cainiao, as a subsidiary of Alibaba Group, is considered an affiliated person of the company. The announcement mentioned that the logistics service fees paid to Alibaba Group in 2022 and 2023 were 47.57 million yuan and 38.37 million yuan respectively, and it is expected to decrease to 20.39 million yuan in 2024, mainly due to the rapid development of the company's direct logistics infrastructure.
Meanwhile, for marketing and platform services, the service fees generated in 2022 and 2023 will be 747 million yuan and 279 million yuan respectively, and are expected to rise to 504 million yuan in 2024. The board of directors of the company believes that the transaction terms with Alibaba Group are fair and reasonable, and in line with the overall interests of the company and its shareholders. In the next three years, the recommended annual caps for logistics services are 39.69 million yuan, 41.67 million yuan, and 43.75 million yuan, while the recommended annual caps for marketing and platform services are 926 million yuan, 976 million yuan, and 1.025 billion yuan.