Nan Fang Du Shi Bao·2025-11-06 05:57Core Viewpoint - Alibaba's subsidiary, Hangzhou Alibaba Zeta Information Technology Co., plans to reduce its stake in Sanjiang Shopping Club Co., Ltd. by up to 16,430,352 shares, representing a maximum of 3% of the company's total share capital, due to its own business arrangements [1][2]. Group 1: Shareholding Changes - Alibaba Zeta intends to reduce its holdings through centralized bidding and block trading, with a maximum of 5,476,784 shares through centralized bidding and 10,953,568 shares through block trading [2]. - The reduction period is set from November 27, 2025, to February 26, 2026 [2]. Group 2: Company Background - Sanjiang Shopping, headquartered in Zhejiang, operates community fresh supermarkets and was listed on the Shanghai Stock Exchange in 2011 [2]. - The company primarily runs three business formats: community fresh supermarkets, Hema Fresh, and Anxian Life, with nearly 200 stores in Zhejiang Province [2]. Group 3: Historical Context - Alibaba first invested in Sanjiang Shopping in 2016, acquiring a 9.33% stake, which later increased to 32% after participating in a private placement [2][3]. - The partnership included sharing supply chain advantages and integrating Alibaba's e-commerce resources, with agreements to operate innovative stores like Hema Fresh [3]. Group 4: Recent Financial Performance - Sanjiang Shopping reported a third-quarter revenue of nearly 1 billion yuan, a year-on-year decrease of 0.81%, and a net profit of 23.12 million yuan, down 46.64% year-on-year [4]. - For the first three quarters of the year, the company achieved a revenue of 2.988 billion yuan, a slight increase of 0.59%, while the net profit decreased by 5.42% to 114 million yuan [5]. Group 5: Store Operations - In the third quarter, Sanjiang Shopping opened 7 Hema stores, all located in Ningbo, generating revenue of 161.98 million yuan with a gross margin of 24.18% [6].