SAN FRANCISCO June 15 news Alipay solo (from Yahoo, Softbank two large shareholders) event led to the outside on the entrepreneurial spirit and integrity of the contract discussions are all the discussions based on "Alipay solo results from Yahoo, Softbank agreed or unilaterally by Ma and other management as "foundation. Ma repeatedly stressed yesterday that he received the Board authorized the Executive Board, but ZDNet find Alipay real solo (with Alibaba Group to terminate the control) compared with the prior permission of the condition (protocol control) has not received consent from Yahoo, Softbank, Ma also confirmed that the management is to terminate the license and then control returns to talk to Yahoo Softbank compensation benefits.
Ma in the media yesterday, the notice will be an emergency meeting (Click here to see the communication will be on-site Record) on numerous occasions stressed that he had Alibaba Group Board minutes of the meeting that he and the management at July 24, 2009 Board received permit "legal license, ownership adjust". Alibaba Group, the Board has four seats, respectively, Ma, Alibaba Group CFO Caichong Xin, Yahoo's Jerry Yang and Masayoshi Sun Softbank, Alipay and Yahoo Softbank to sell the case have veto power, which must obtain their consent.
However, Ma has repeatedly stressed that with the acquisition of the license than Ma did not mention, but a recognition of the situation, leadership is a prerequisite for obtaining such a permit, Alibaba Group (Yahoo and Softbank, holding over 70%) still performs protocol control (VIE structure) is in control of Alipay.
In this context, agreed Yahoo and Softbank to pay the tax for domestic enterprises, which is seen on the outside of the media in June 2009 to transfer 70% in August 2010 and the transfer of the remaining 30%. At this time the name of Alipay to domestic, in fact still controlled by agreement between all vested in Alibaba Group, Yahoo and Softbank interests are not jeopardized. At this time Paypal, looks like a solo, and actually still is under the control of Alibaba Group.
Alipay true meaning of the solo (from Yahoo, Softbank two shareholders) in the first quarter of this year. Obliged to pay the central bank to declare their taxes without an agreement after controlling for ownership structure, and I think Yahoo and Softbank to get a license through the protocol control case, Ma and management unilaterally chose to terminate the agreement at this time control, making Alipay At this time began the real solo. Ma goes to Netease technology to confirm the presence of 50 media to Alipay Alibaba Group terminate and control (ie actual solo) without the consent of Yahoo and Softbank, management's unilateral decision. Alipay control after the central bank to terminate the agreement to submit a public statement the next day board meeting, and Yahoo and Softbank to talk about the issue of damages.
Ma Yahoo and Softbank have yet to comment on yesterday's argument, all the words are still today one of the words Ma.
Ma goes from publishing information view Alipay solo after three steps is the first step in the June 2007 transfer to Ma 70% of shares controlled by a domestic company, the second step is August 2010 to transfer the remaining 30% of the shares, the third step is to end the first quarter of this year, Alibaba Group, and protocol control. Prior to the first two steps is to understand the world around Alipay solo, the reality is that there was consensus on the control and no solo, is that Ma has stressed that he has approved a two-step, the core of Softbank Yahoo does not agree with the third step, more is not approved. The final step in a definitive agreement to control the actual solo, Ma had not come on the board to confirm authorization. This can be simply understood as Ma always said that obtaining a license are not authorized Alipay solo, but to do some of the ownership structure of technical care (does not affect the interests of Yahoo Softbank) permission.
The information industry had also answered some questions. For example Alipay transferred in 2009 to 70% stake, announced why Yahoo continues to consolidated financial statements because at the time even the 70% stake in the transfer of control agreement, but still, can still consolidated accounts; Ma has insisted that Yahoo could not know Softbank Why Yahoo will say that they did not know because the first two lots, even approved the transfer of their knowledge, and then only to take control of the license agreement to make it third time to cancel the contract to control their own prior knowledge, 31 March, knows time is completed, the question of compensation only in our interests. (Cattle Lixiong)
Glossary:
Protocol Control (also known as VIE mode)
Certain way, the parties Yiqi offshore companies controlled by the name back up wholly foreign owned enterprise (WFOE), and in the name of WFOE through the exclusive management consulting or technical service agreements and other contracts, control of all business activities in domestic companies domestic companies and thus achieve the main revenue and profit. Through the above series of events, but on the surface of domestic companies are increasingly independent of domestic companies, but in reality the entire company's business and corresponding assets, revenues and earnings attributable to foreign companies that are outside the company's actual control.
Also known as "VIE fashion," according to U.S. GAAP in the "variable interest entities" (Other Tnterests Entity) requirements, a unit with another unit, although there is no equity on the control conditions, but the former depends on the benefits and risks fully in the latter, is the former the latter variable interest entities, so both statements should be merged. Is to achieve equity in the consolidated accounts of listed overseas financial condition.
Ma in the media yesterday, the notice will be an emergency meeting (Click here to see the communication will be on-site Record) on numerous occasions stressed that he had Alibaba Group Board minutes of the meeting that he and the management at July 24, 2009 Board received permit "legal license, ownership adjust". Alibaba Group, the Board has four seats, respectively, Ma, Alibaba Group CFO Caichong Xin, Yahoo's Jerry Yang and Masayoshi Sun Softbank, Alipay and Yahoo Softbank to sell the case have veto power, which must obtain their consent.
However, Ma has repeatedly stressed that with the acquisition of the license than Ma did not mention, but a recognition of the situation, leadership is a prerequisite for obtaining such a permit, Alibaba Group (Yahoo and Softbank, holding over 70%) still performs protocol control (VIE structure) is in control of Alipay.
In this context, agreed Yahoo and Softbank to pay the tax for domestic enterprises, which is seen on the outside of the media in June 2009 to transfer 70% in August 2010 and the transfer of the remaining 30%. At this time the name of Alipay to domestic, in fact still controlled by agreement between all vested in Alibaba Group, Yahoo and Softbank interests are not jeopardized. At this time Paypal, looks like a solo, and actually still is under the control of Alibaba Group.
Alipay true meaning of the solo (from Yahoo, Softbank two shareholders) in the first quarter of this year. Obliged to pay the central bank to declare their taxes without an agreement after controlling for ownership structure, and I think Yahoo and Softbank to get a license through the protocol control case, Ma and management unilaterally chose to terminate the agreement at this time control, making Alipay At this time began the real solo. Ma goes to Netease technology to confirm the presence of 50 media to Alipay Alibaba Group terminate and control (ie actual solo) without the consent of Yahoo and Softbank, management's unilateral decision. Alipay control after the central bank to terminate the agreement to submit a public statement the next day board meeting, and Yahoo and Softbank to talk about the issue of damages.
Ma Yahoo and Softbank have yet to comment on yesterday's argument, all the words are still today one of the words Ma.
Ma goes from publishing information view Alipay solo after three steps is the first step in the June 2007 transfer to Ma 70% of shares controlled by a domestic company, the second step is August 2010 to transfer the remaining 30% of the shares, the third step is to end the first quarter of this year, Alibaba Group, and protocol control. Prior to the first two steps is to understand the world around Alipay solo, the reality is that there was consensus on the control and no solo, is that Ma has stressed that he has approved a two-step, the core of Softbank Yahoo does not agree with the third step, more is not approved. The final step in a definitive agreement to control the actual solo, Ma had not come on the board to confirm authorization. This can be simply understood as Ma always said that obtaining a license are not authorized Alipay solo, but to do some of the ownership structure of technical care (does not affect the interests of Yahoo Softbank) permission.
The information industry had also answered some questions. For example Alipay transferred in 2009 to 70% stake, announced why Yahoo continues to consolidated financial statements because at the time even the 70% stake in the transfer of control agreement, but still, can still consolidated accounts; Ma has insisted that Yahoo could not know Softbank Why Yahoo will say that they did not know because the first two lots, even approved the transfer of their knowledge, and then only to take control of the license agreement to make it third time to cancel the contract to control their own prior knowledge, 31 March, knows time is completed, the question of compensation only in our interests. (Cattle Lixiong)
Glossary:
Protocol Control (also known as VIE mode)
Certain way, the parties Yiqi offshore companies controlled by the name back up wholly foreign owned enterprise (WFOE), and in the name of WFOE through the exclusive management consulting or technical service agreements and other contracts, control of all business activities in domestic companies domestic companies and thus achieve the main revenue and profit. Through the above series of events, but on the surface of domestic companies are increasingly independent of domestic companies, but in reality the entire company's business and corresponding assets, revenues and earnings attributable to foreign companies that are outside the company's actual control.
Also known as "VIE fashion," according to U.S. GAAP in the "variable interest entities" (Other Tnterests Entity) requirements, a unit with another unit, although there is no equity on the control conditions, but the former depends on the benefits and risks fully in the latter, is the former the latter variable interest entities, so both statements should be merged. Is to achieve equity in the consolidated accounts of listed overseas financial condition.
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