Zhong Guo Ji Jin Bao·2025-12-03 13:00Core Viewpoint - Alibaba's subsidiary Hangzhou Haoyue plans to reduce its stake in Meikailong by no more than 3%, citing funding needs [1][6]. 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]. - Following the reduction, Hangzhou Haoyue's direct stake in Meikailong may fall below 5%, from the current 5.40% [6]. - Prior to this announcement, Hangzhou Haoyue had completed a previous reduction, decreasing its stake by 1.28% [8]. 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]. - The stake reduction plan is set to be executed within three months, starting from 15 trading days after the announcement [1]. - As of December 3, Meikailong's A-share price was reported at 2.64 yuan per share, with a total market capitalization of 10.4 billion yuan [8].