Core 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].

Core Viewpoint - Alibaba's subsidiary, Hangzhou Alibaba Zetai Information Technology Co., Ltd., plans to reduce its stake in Sanjiang Shopping by up to 16.43 million shares, representing no more than 3% of the total share capital, due to its own business arrangements [1] Group 1: Shareholding Changes - As of the announcement date, Alibaba Zetai holds 32% of Sanjiang Shopping, totaling approximately 175 million shares, making it the second-largest shareholder [1] - After the reduction, Alibaba Zetai will remain the second-largest shareholder, while Shanghai He'an Investment Management Co., Ltd. is the largest shareholder with a 35.42% stake [1] - This marks the first reduction in Alibaba Zetai's holdings since its investment in Sanjiang Shopping in 2016, when it acquired a 32% stake for a total of 2.15 billion yuan, with a holding cost of approximately 11.19 yuan per share [1] Group 2: Market Performance - Following the announcement of Alibaba Zetai's investment in November 2016, Sanjiang Shopping's stock price surged to a historical high of 54.96 yuan, but has since declined significantly, closing at 11.81 yuan on April 22, 2024, with a total market capitalization of 6.468 billion yuan [1] Group 3: Industry Context - In recent years, Alibaba has been gradually exiting traditional retail businesses to focus on core areas such as cloud computing and international e-commerce [2] - Sanjiang Shopping is a major commercial enterprise in Zhejiang Province and a top chain operator in China, primarily operating community fresh supermarkets and other retail formats [2] - The company's revenue has fluctuated significantly from 2020 to the first three quarters of 2024, with revenues of 4.3 billion yuan, 3.925 billion yuan, 4.091 billion yuan, 3.896 billion yuan, and 2.971 billion yuan, and net profits of 122 million yuan, 88.29 million yuan, 156 million yuan, 138 million yuan, and 121 million yuan respectively [2]

公开资料显示，三江购物是浙江省大型商贸流通企业、中国连锁经营百强企业，于2 0 11年在上交所 挂牌上市。公司主要经营社区生鲜超市、盒马鲜生、安鲜生活等三种业态，在浙江省内有2 0 0多家门 店。 值得注意的是，4月2 1日，大消费股再度活跃，电商、影视等方向领涨，国芳集团（6 0 1 0 8 6 .SH）等 多股涨停。三江购物表现弱于板块，当日小幅下跌0 . 3 2%，最新价报1 2 . 4 0元/股，总市值达6 7 . 9 1亿 元。 值得一提的是，去年，阿里宣布以7 4亿元出售百货和购物中心运营商银泰股权。 作 者丨孙永乐 编 辑丨刘巷 4月2 1日晚间，三江购物（6 0 111 6 .SH）突发公告称，公司股东杭州阿里巴巴泽泰信息技术有限公司 （以下简称"阿里泽泰"）因自身商业安排需要，拟通过集中竞价及大宗交易方式减持不超过1 6 4 3万 股，即不超过公司总股本的3%。 截至公告披露日，阿里泽泰持有三江购物无限售条件流通股股份约1 . 7 5亿股，占公司总股本的 3 2 . 0 0%，为公司第二大股东。 三江购物此前公告显示，阿里巴巴集团通过阿里巴巴（中国）网络技术有限公司控制阿里泽泰1 0 0% ...