Alibaba’s logistics operation Cainiao will double employees’ annual bonuses next year after the company announced it was canceling its planned IPO in Hong Kong. Wan Lin, chief of Cainiao announced the annual bonus decision late Tuesday in a staff-facing email, shortly after Alibaba said it was abandoning the subsidiary’s anticipated IPO. Why it matters: Alibaba’s offer to buy remaining Cainiao shares up to $3.75 billion and the bonus incentive plan should give a double boost to investors and staff amid the unexpected listing withdrawal. When Alibaba announced the withdrawal of the IPO plan this Tuesday, it coincided with the last day of the six-month window during which the company was obligated to update its listing status. Details: As part of the new incentive plan, Cainiao employees will receive their standard year-end bonus in April 2025, with an additional bonus of the same amount in August 2025.