688220，阿里减持！

Core Viewpoint - Alibaba has reduced its stake in Aojie Technology (688220) from 13.99% to 12.69% by selling 5,439,008 shares, as part of a planned divestment strategy [1][2]. Group 1: Shareholding Changes - Aojie Technology announced that Alibaba Network has notified them of a reduction in shareholding, with the reduction occurring between November 24 and December 1, 2025 [1]. - Alibaba Network had previously announced a plan to reduce its holdings by up to 12.549 million shares, representing a maximum of 3% of the total share capital [1]. Group 2: Financial Performance of Aojie Technology - For the first three quarters of the year, Aojie Technology reported revenue of 2.88 billion yuan, reflecting a year-on-year growth of 13.42% [2]. - The company recorded a net loss attributable to shareholders of 327 million yuan during the same period [2]. Group 3: Alibaba's Strategic Focus - Alibaba's CEO stated that the company is in an investment phase, focusing on building AI technology and infrastructure platforms, as well as integrating life services with e-commerce to create long-term strategic value [2]. - The company reported a 34% year-on-year revenue growth in its cloud intelligence group, driven by strong demand for AI, with AI-related product revenue achieving triple-digit growth for the ninth consecutive quarter [2].