Xpeng Motors' prospects are optimistic, Alibaba reduces its stake

On the evening of December 15, Alibaba Group announced the sale of part of its stake in Xpeng Motors.

In this regard, the relevant person in charge of Alibaba Group said, "Based on our own capital management goals, we sold part of our shares in Xpeng, and our shareholding dropped from 10.2% to 7.5%. Xpeng is a Chinese electric company One of the leaders in the automotive field, we have established a strategic partnership with it. We believe in Xpeng's prospects and look forward to continued cooperation with the company."

Alibaba Group management stated at the quarterly results conference call on the 16th of last month that it will continue to optimize capital management, increase capital return and enhance shareholder value in the future

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