Sanjiang Shopping Club (601116.SH): Alibaba's Zetai plans to reduce its stake by no more than 3%.

Sanjiang Shopping Club (601116.SH) announced that the company recently received a notice from Alibaba Zetai regarding a share reduction plan. Due to Alibaba Zetais business arrangements, they plan to reduce their holdings in the company by no more than 16.43 million shares through centralized bidding and block trading, which is equivalent to no more than 3% of the company's total share capital.