Alibaba's subsidiaries include: Ant Financial, Alibaba Cloud, Cainiao Network, Ali Sports, Ali Health, Ali Music, Ali Games, Tao Piao Piao, DingTalk, and Local Life Group. Let's focus on the companies with relatively large valuations.

1. Ant Financial

Ant Financial is the most highly valued of Alibaba's unlisted companies, with a valuation of 1 trillion RMB. Many people may not know Ant Financial, but if we mention its product Alipay, I believe everyone is very familiar with it. Alipay ranks first in the payment industry.

2. Cainiao Network

"Cainiao Network Technology Co., Ltd." was established on May 28, 2013 by Alibaba Group, Intime Group, Fosun Group, Fuchun Group, SF Express Group, and the three links (Shentong, Yuantong, Zhongtong, and Yunda). It is the cornerstone of e-commerce and is valued at 100 billion RMB.

3. Alibaba Cloud

Founded in 2009, Alibaba Cloud is a world-leading cloud computing and artificial intelligence technology company. Alibaba Cloud is the largest public cloud service provider in China, serving more than 2.3 million customers in more than 200 countries and regions. It ranks third in the world's public cloud market share, second only to Amazon Cloud and Microsoft Cloud. The valuation has reached US$65 billion.

4. Alibaba Local Life Group

It is estimated that some people have not heard of the Local Life Group. In fact, the Local Life Group was formed by the merger of Koubei and Ele.me. In January 2019, it received US$3 billion led by Alibaba and SoftBank China, with a valuation of US$30 billion. With sufficient ammunition, it can compete with Meituan, which is good for us ordinary consumers.