(Yicai Global) June 2 -- China's State Post Bureau asked the country's leading courier S.F. Holding Co. [SHE:002352] and e-commerce logistics company Cainiao Network Technology Co., which internet behemoth Alibaba Group Holding [NYSE:BABA] has a 51-percent stake in, to focus on the big picture after a disagreement between the companies caused service disruptions.
In a statement yesterday, the national post bureau called on the parties to find the "greatest common factor" in solving their dispute to maintain market order and protect consumers' interests. The spat should not lead to serious social consequences, it said.
The bureau has contacted the senior management of both companies and will coordinate with delivery service providers to ensure the unhindered transportation of fresh agricultural goods such as cherries, lychees, bayberries and mangos.
In a bid to soothe investors, SF Holding issued a statement today saying that the matter will not affect the 2017 and 2018 net profit forecasts that the company made after its reorganization last year.
SF and Cainiao cut access to each other's logistics data yesterday due to a disagreement over data services.
Alibaba's push for S.F. Holding's SF Express to stop using Tencent Holding Ltd.'s [HKG:0700] cloud computing services and subscribe to AliCloud created tension between SF and Cainiao, Chinese media reported, citing a source at S.F. Holding.