Guo Ji Jin Rong Bao·2025-12-02 13:31Core Viewpoint - Alibaba is accelerating its divestment from the platform chip company Aojie Technology, reducing its stake from 13.99% to 12.69% through the sale of 5,439,008 shares [1] Group 1: Shareholding Changes - Alibaba's recent share reduction is part of a series of divestments, with the last reduction occurring just over two weeks prior [1] - The total shares sold by Alibaba from October 9 to December 1 amount to 11,490,515, representing a significant exit strategy [7] - The cumulative divestment during this period corresponds to a market value exceeding 1 billion yuan [7] Group 2: Historical Investment - Alibaba was a key early investor in Aojie Technology, contributing approximately 650 million yuan across two funding rounds between 2017 and 2018 [5][6] - In 2020, after Aojie Technology transitioned to a joint-stock company, Alibaba held 64.56 million shares, making it the largest shareholder with a 17.15% stake [6] - Following Aojie Technology's IPO in January 2022, Alibaba's shareholding was 15.43%, significantly higher than the actual controlling shareholder [6] Group 3: Market Context - The timing of Alibaba's divestment coincides with a period of declining stock prices for Aojie Technology, which has seen its shares drop below the initial offering price [6] - The stock price on the day of Alibaba's initial divestment announcement was at a yearly high of 112.15 yuan, indicating a strategic decision to sell at a favorable price [6]