Uoxin 188bet sports betting, whose performance is in jeopardy, has introduced heavyweight strategic investors。

September 29，Alibaba Networks and Feng Bin, the actual controller of Uxin 188bet sports betting, signed the "Share Transfer Agreement"，Feng Bin intends to use 8.46 yuan/share transfer 5% of unrestricted shares to Alibaba Network，Total 4547.030,000 shares，The total transfer price is about 3.8.5 billion yuan，After transfer，Alibaba Network will become the third largest shareholder of Uoxin 188bet sports betting。

September 30，Zhongxin 188bet sports betting Announcement，According to the resolution of the 36th meeting of the company’s fourth board of directors，Agreed to sign the "Strategic Cooperation Framework Agreement" with Zhejiang Ali 188bet sports betting Investment Co., Ltd.。According to the cooperation framework，Uxin 188bet sports betting will jointly invest in the establishment of a limited liability company with Alibaba 188bet sports betting，Registered capital 1.500 million，Of which Uxin 188bet sports betting accounts for 45%，Alibaba accounts for 55%，Mainly engaged in tourism product distribution solution system capability output and tourism product distribution platform business。

To this，Essence Securities Research believes，Alibaba Fliggy and Ant Financial will provide empowerment to the joint venture，Strengthen the profitability and growth capabilities of upstream and downstream resources of 188bet sports betting agencies that Uxin 188bet sports betting is good at，The “new retail” model of the tourism industry is about to begin。

CICC also wrote an article to point out，This cooperation will change the current low online rate of domestic 188bet sports betting products，The joint venture is expected to pass IT、Payment, etc. establish a distribution platform that connects upstream and downstream small B-sides。

However，The capital market does not seem to buy this。September 30，Uoxin 188bet sports betting’s stock price opens low and moves low，And close at the lower limit。Since this year，The stock price of Uoxin 188bet sports betting has risen by 45% in total.67%，But，Since the company’s stock price hit the high point of the year on July 13, it has continued to fall back，The high point has been corrected by 23 points so far.74%。

It is reported，Zhongxin 188bet sports betting mainly engages in outbound 188bet sports betting wholesale，Outbound 188bet sports betting retail，Integrated marketing services, etc.，is the largest outbound 188bet sports betting operator in China。The company entered the A-share capital market in 2014，The first A-share listed private 188bet sports betting agency company，2019 revenue reached 126.7.7 billion yuan。But，After the company’s stock price surged more than a year after its listing，There was a continuous decline。2016 to present，The company’s stock price has dropped by 65% ​​in total.12%，Corresponding to this，is the company’s operating income、Net profit growth continues to decline after reaching the high point in 2015。Semi-annual report as of this year，Affected by the epidemic, the company’s half-year revenue growth dropped by 78%.4%，Net profit growth rate declined 283.4%。

Then，This strategic cooperation between Uxin 188bet sports betting and Alibaba，Can the company be brought out of the quagmire，Create greater glory？

For this cooperation，Secretary of the Board of Directors of Uoxin 188bet sports betting stated in the conference call，The introduction of Alibaba by Uoxin is not only a financial consideration，It is also the introduction of resources，Open up space for the company’s future development。

Guo Shu, Secretary of the Board of Directors of Uoxin 188bet sports betting, thinks，From the current situation of the industry，Currently, the online adoption rate of “machine wine” standardized products is high，The online rate of the entire tourism industry is very low，The industry as a whole presents an extremely decentralized "distribution model"，The joining of Alibaba can greatly improve the current industry structure，Enable leading companies like Uxin 188bet sports betting to give full play to their advantages。

“The strategic cooperation agreement is actually to launch Ali 188bet sports betting with Alibaba in many aspects，To carry out all-round tourism-related business cooperation，And utilize Alibaba’s brand、Traffic and System Technology、Payment technology and other big data will enhance Uoxin 188bet sports betting’s capabilities in this area”，Guo Shu speaks out。

However，It is difficult to bring non-standardized tourism products online。First，From a business model perspective，If most long-term tourism products in the future will still be through in-depth exchanges、Thinking and understanding of destination conditions to close the deal，Then such transactions will still be realized through offline channels。For this reason，The purpose of this cooperation with Uoxin 188bet sports betting is to improve the online level of these offline channels，As for which aspects can be moved online，And whether onlineization can bring faster revenue growth and profitability to Uxin，It’s still confusing at present。

Also，For the Cooperation Framework，Alibaba’s role in the joint venture focuses on system builder，Uxin 188bet sports betting participated in the form of industry “Know-How”，How to get the two teams to work together as quickly as possible is a major difficulty。From the perspective of shareholding ratio，Uxin 188bet sports betting is the second shareholder in the joint venture，In the future, Uxin 188bet sports betting’s shareholding ratio may be further reduced to 37%，Such cooperation brings a lot of uncertainty to whether Zhongxin 188bet sports betting can quickly improve profitability in the future。

Currently，Alibaba already has Fliggy to carry out retail business，The advantage of Zhongxin lies in products and wholesale。actually，For Ali，The overall business strategy is "new retail"，How to subvert traditional industries through IT technology，Evolve the business model to a centralized model with the online platform as the core。From this perspective，Both Fliggy in the past and Usin 188bet sports betting now may be the target of being “subverted”，In this situation，Ali、How Fliggy complements the advantages of Zhongxin 188bet sports betting becomes more complicated。

A buyer-side researcher views this cooperation this way: “The industry concentration in the domestic tourism market is very low，Uxin 188bet sports betting previously focused on overseas 188bet sports betting because of the higher quality of outbound 188bet sports betting，More systematic。But in recent years, domestic tourism has begun to become more high-end，The growing need for systematization，Therefore, the cooperation between Uxin and Alibaba is not only due to the epidemic，But good wishes，Whether it can be done still needs to be tested”，The person said。

Another institutional investor said bluntly，“Alibaba has tried a lot in new retail over the years，But many projects are not very successful，Such cooperation will cause little loss to Alibaba，But for the other cooperative enterprise，But I can’t stand such trouble，For this reason，The cooperation between Uoxin 188bet sports betting and Alibaba is full of uncertainty”。

*Source of 188bet sports betting article: Sina Finance, Author:Li Luo, original title: "Uoxin 188bet sports betting introduces Alibaba strategic investment. How to "seek skin from a tiger"?》.