Xin Lang Cai Jing·2025-12-03 12:57Core Viewpoint - Alibaba's subsidiary Hangzhou Haoyue plans to reduce its stake in Meikailong by no more than 3% due to funding needs [1][9]. Group 1: Shareholding Changes - Hangzhou Haoyue intends to reduce its holdings through a combination of methods: up to 1% via centralized bidding and up to 2% through block trading [1][9]. - The proposed timeline for the reduction is from December 25, 2025, to March 24, 2026, starting 15 trading days after the announcement [1][9]. - Currently, Hangzhou Haoyue holds 5.40% of Meikailong's shares, and if the reduction occurs, its stake may fall below 5% [5][12]. Group 2: Background Information - Hangzhou Haoyue is an investment platform under Alibaba, with three main shareholders: Taobao (China) Software Co., Zhejiang Tmall Technology Co., and Alibaba Network China Co. [1][9]. - The shares held by Hangzhou Haoyue were originally part of Alibaba (China) Network Technology Co., which had 248.22 million shares (5.70% of total shares) before the restructuring [3][11]. Group 3: Recent Trading Activity - Prior to this reduction plan, Hangzhou Haoyue completed a previous reduction, selling a total of 1.28% of its shares in Meikailong through centralized bidding and block trading by November 30, 2025 [14]. - As of December 3, 2023, Meikailong's A-share price was reported at 2.64 yuan per share, with a market capitalization of 10.4 billion yuan [15].