Technology peripheralsIt IndustryAlibaba reduces its stake in NetEase Cloud Music, with shareholding ratio falling from 7.0% to 5.19%Alibaba reduces its stake in NetEase Cloud Music, with shareholding ratio falling from 7.0% to 5.19%
This site reported on July 10 that Hong Kong Stock Exchange documents showed that Alibaba reduced its holdings in NetEase Cloud Music, and its shareholding ratio dropped from 7.0% to 5.19%.
- In September 2019, Alibaba and Yunfeng Fund invested US$700 million in NetEase Cloud Music.
- As of the listing, Alibaba and Yunfeng Fund held 9.98% and 4.99% of the shares respectively.
- In December 2021, after NetEase Cloud Music went public, Alibaba began to reduce its stake in Cloud Music.
- In Q2 2022, Alibaba’s equity stake decreased from 9.98% to 9.91%.
- On June 6, 2023, Alibaba reduced its stake from 8.3% to 7.0%.
- In 2023, NetEase Cloud Music’s total revenue was 7.867 billion, a year-on-year decrease of 12.51%.
- NetEase Cloud Music’s gross profit margin and net profit margin are 26.73% and 9.33% respectively, which are far lower than Tencent Music.
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