US Stock Market Move | Alibaba Group Holding Limited Sponsored ADR(BABA.US) dropped more than 2% in pre-market trading, causing attention after Lin Junyang resigned.

On Thursday, Alibaba Group Holding Limited Sponsored ADR (BABA.US) fell by more than 2% in pre-market trading, closing at $129.70. On the news side, in the early hours of March 4th, Lin Junyang announced his resignation on social media, quickly drawing market attention. Lin Junyang was previously the youngest P10-level technical leader within the Alibaba Group Holding Limited Sponsored ADR group. In 2024, Lin Junyang led the open-source work of the Qwen series models, involving different parameter scale versions such as 7B, 14B, and 72B. On March 5th, BABA-W (09988) CEO Wu Yongming responded to Lin Junyang's departure in an internal email. Wu Yongming stated that the company has approved Lin Junyang's resignation and thanked him for his past contributions in his role. Jing Ren will continue to lead the Tongyi Lab to advance the follow-up work. Reports suggest that Lin Junyang's ultimate decision to leave is likely related to the organizational adjustments that the Qwen team is currently undergoing. The Qwen team, directly supervised by Lin Junyang, is subordinate to the Tongyi Lab led by Alibaba Cloud CTO Zhou Jingren. Recently, Tongyi Lab plans to split up the Qwen team from a "vertical integration" system covering different training processes and modalities into separate horizontal teams focusing on pre-training, post-training, text, multimodal, etc., while these teams will still be part of the Tongyi Lab. Lin Junyang's management scope has been narrowed down.