Alibaba: Baozhuang shares plan to list in Hong Kong, the company holds about 44.72% of Baozhuang shares.

Alibaba announced that the board of directors has announced that Zebra is seeking an independent listing on the main board of the Hong Kong Stock Exchange. As of the date of this announcement, the Company holds approximately 44.72% of Zebra's shares, and Zebra is accounted for as an equity method investee by the Company. It is proposed that the spin-off will be carried out through a global offering of Zebra shares. After certain proposed adjustments to the Zebra shareholding structure and the completion of the proposed spin-off, the Company will continue to hold over 30% of Zebra's shares, and Zebra will still be accounted for as an equity method investee by the Company. Zebra has submitted a listing application to the Hong Kong Stock Exchange.