US Stock Market Move | Alibaba Group Holding Limited Sponsored ADR (BABA.US) rose over 2%, with a cumulative investment of about 7.6 billion yuan in Changxin Technology.

On Thursday, Alibaba Group Holding Limited Sponsored ADR (BABA.US) rose more than 2%, closing at $111.67. In terms of news, Changxin Technology's initial public offering on the Science and Technology Innovation Board is scheduled for July 16th, aiming to raise 29.5 billion yuan, making it the largest fundraising amount on the board since its opening. It is understood that Alibaba Group Holding Limited Sponsored ADR has invested approximately 7.6 billion yuan in Changxin Technology, holding the highest stake among industry investors. According to Changxin Technology's prospectus and public information, the Alibaba Group first invested in Changxin Technology in December 2021, with a stake of around 1% after several rounds of financing dilution. In June 2025, 3 and a half years later, the Alibaba Group made a significant additional investment, increasing its stake to around 5% before the IPO, with Alibaba Cloud holding 3.85% and Alibaba Network holding 1.12%. As a result, the Alibaba Group has invested approximately 7.6 billion yuan in Changxin. Alibaba Cloud was also one of the largest single investors in the final round of funding before Changxin Technology's listing.