出售丹鸟，阿里断舍离？

财经早餐2025-07-29

近日，申通快递公告称，拟以现金收购浙江丹鸟物流科技有限公司（简称“丹鸟物流”）100%股权，交易对价3.62亿元。丹鸟物流是菜鸟旗下业务之一菜鸟速递的运营主体。申通快递称，此次交易有助于公司整合同业优质资产、资源，加快推进品质快递网络构建，并提升业务和收入规模。被优化的丹鸟物流这两年，相较于不少行业在“大洗牌”，快递业格局相对稳定，丹鸟物流被收购算得上大事了。交易前，丹鸟物流是阿里全资持有的企业，...

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href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250729062703a46850cc&s=b><strong>财经早餐</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>近日，申通快递公告称，拟以现金收购浙江丹鸟物流科技有限公司（简称“丹鸟物流”）100%股权，交易对价3.62亿元。丹鸟物流是菜鸟旗下业务之一菜鸟速递的运营主体。申通快递称，此次交易有助于公司整合同业优质资产、资源，加快推进品质快递网络构建，并提升业务和收入规模。被优化的丹鸟物流这两年，相较于不少行业在“大洗牌”，快递业格局相对稳定，丹鸟物流被收购算得上大事了。交易前，丹鸟物流是阿里全资持有的企业，...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250729062703a46850cc&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0469268626.HKD","symbol_name":"AB FCP I-ASIA EX JAPAN EQUITY 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up?","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"89988":0.9,"02618":0.75,"HBBD.SI":0.6,"ALBmain":0.6,"09988":0.6,"BABA":0.6},"content_text":"近日，申通快递公告称，拟以现金收购浙江丹鸟物流科技有限公司（简称“丹鸟物流”）100%股权，交易对价3.62亿元。丹鸟物流是菜鸟旗下业务之一菜鸟速递的运营主体。申通快递称，此次交易有助于公司整合同业优质资产、资源，加快推进品质快递网络构建，并提升业务和收入规模。被优化的丹鸟物流这两年，相较于不少行业在“大洗牌”，快递业格局相对稳定，丹鸟物流被收购算得上大事了。交易前，丹鸟物流是阿里全资持有的企业，称得上是“亲儿子”。阿里旗下菜鸟持有丹鸟物流96.15%股权，阿里创投持有2.95%股权，阿里巴巴（中国）网络技术有限公司持股0.9%。资料显示，丹鸟物流2024年营收为123.51亿元，净利为2011.54万元，经营活动产生的现金流量净流出12.31亿元；2025年前4个月营收为29.65亿元，净亏损2.33亿元，经营活动产生的现金流量净流出2.79亿元。据菜鸟速递公布的信息，菜鸟2021年至2023财年国内快递包裹的日均履约交付量分别为305万件、401万件、633万件。而据申通公告，丹鸟2024年至2025年4月的日均包裹量是400万件以上。这一数据，与其他主流快递平台差距较大。以交易对手申通快递做参照，2024年，申通快递完成快递业务量227.29亿件，日均超6000万。而从“品质快递”的角度，丹鸟相比顺丰和京东，同样差距很大。2024年，顺丰实现营业收入人民币2844亿元，同比增长10.1%；实现归属于上市公司股东的净利润达到101.70亿元，创A股上市以来新高，时隔三年后超越中通重返第一。京东物流快递快运等其他客户收入约955亿元，同比增长12.1%，年度利润同比增长507.2%至70.88亿元。另外值得关注的点是，2024年，京东物流接入淘宝天猫平台，这意味着竞争多年的淘宝和京东，在物流层面“握手言和”。而阿里依托菜鸟，培育丹鸟物流，最主要的目的之一，就是拉平和京东在物流层面的差距，和京东物流“握手言和”之后，丹鸟快递的战略地位就不可避免地下降了。同时，横向对比来看，丹鸟物流自身经营情况难言理想，长期处于盈亏平衡线上，因而，阿里出手丹鸟物流，并不令市场意外。纵观行业，其他快递公司都有能力承接丹鸟物流，为什么阿里选择了申通，答案或许在股权架构中。自2019年起，阿里巴巴就同申通建立了股权关糸，目前大约占有申通25%的股份，是实际控股人之外申通快递最大的股东。截止2024年申通核心管理层中至少有3人曾在阿里巴巴旗下任职。申通在2022年12月公布的《关于公司股东签署经第二次修订和重述的购股权协议之延期协议的公告》显示，阿里网络拥有在2025年12月27日之前购买德润二和恭之润持有申通21%股份的权利。如果阿里如约行权，将会成为申通快递的实际控制人。相较而言，阿里尽管入股了中通、圆通等快递公司，但占股比例并不算高，并且还有减持的动作，比如前不久圆通速递发布公告称，阿里旗下杭州灏月在2025年4月3日至2025年6月26日期间，通过大宗交易方式转让公司68,935,068股无限售条件流通股，转让股份数量占公司总股本的2%。就此而言，申通快递收购丹鸟物流，对于阿里来说，还是“肉烂在锅里”。这对于阿里旗下的菜鸟来说，或许也意味着战略重心的调整，剥离了国内的重资产，更加聚焦全球供应链、境外仓储、海外本地、物流科技等服务，配合速卖通开掘境外市场。夸克AI眼镜——阿里AI战略的阶段性成果相比物流业务，如今市场更关注阿里在AI方面的进展，阿里自身也表现出了“all in AI”的姿态。2025世界人工智能大会上，阿里巴巴宣布将推出首款自研AI眼镜--夸克AI眼镜。据阿里方面介绍，夸克AI眼镜具备语音助手、音乐播放、电话通话、实时翻译、会议纪要等基础功能，并整合阿里巴巴生态内的地图、支付、购物等功能。在硬件层面，夸克AI眼镜采用高通ar1旗舰设计芯片加低功耗的协处理器双芯设计，搭配安卓加RTOS双系统实现动态资源调度。夸克AI眼镜一大特点是将融合阿里及支付宝生态：具备通义千问大模型和夸克最新AI能力，还支持高德导航、支付宝扫一下支付、淘宝比价、飞猪商旅提醒等。夸克AI眼镜算得上阿里AI战略的“阶段性成果”。去年年底，阿里对AI To C业务进行统筹调整。原属于阿里云的AI应用 “通义” 被拆分并入到夸克所在的阿里智能信息事业群。今年2月，阿里巴巴创始人马云现身夸克办公区，引发业界热议。同期，阿里AI To C业务开启数百个岗位的大规模招聘，90%集中在AI技术与产品研发方向。“85后少壮派”高管吴嘉获马云亲自点将，担任该业务负责人，直接向阿里CEO吴泳铭汇报工作，成为阿里AI To C战略的实际操盘手。根据AI产品榜，今年3-6月，夸克的月活一直保持在1.5亿左右，远高于DeepSeek、豆包和元宝，跟百度网盘相仿。图片来源：AI产品榜从一系列举措来看，阿里称得上在AI领域投入最坚决、布局最全面，也是最早实现商业化收益的公司之一。阿里通义系列已开源超过200个模型，衍生出的模型数量突破10万个，成为全球最大的开源AI模型家族。阿里云2025财年收入突破双位数增长达到1180亿元，AI相关产品收入连续七个季度实现三位数同比增长。结语阿里近期在物流与AI领域的动作呈现出不同的战略指向。物流方面，申通收购丹鸟物流，既与丹鸟自身经营表现及战略地位变化相关，也受阿里系内部股权架构和资源整合逻辑影响。这一交易将使丹鸟的业务资产得以纳入申通体系，而阿里通过持股关系仍能保持一定关联，同时菜鸟可进一步聚焦全球供应链等领域。AI领域，夸克AI眼镜的推出是阿里在该赛道布局的阶段性体现，整合了其生态内的多项功能与技术能力，反映出阿里在人工智能硬件及应用场景拓展上的尝试。其后续市场表现及对阿里AI战略的支撑作用，仍有待观察。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 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