Alibaba completed the sale of 33 million ADSs of Xpeng Motors, reducing its shareholding ratio to 4.94%

According to news from this site on March 25, according to the equity disclosure of the Hong Kong Stock Exchange, on March 22, Taobao China Holding Limited, a subsidiary of Alibaba, completed the sale of its holdings Xpeng Motors' 33 million ADSs (representing 66 million Class A ordinary shares), 's shareholding ratio dropped from 9.23% to 4.94%.

This is not the first time Alibaba Group has reduced its holdings in Xpeng Motors. On December 15 last year, U.S. Securities and Exchange Commission filings showed that Taobao China Holdings Co., Ltd. planned to sell 25 million shares of Xpeng Motors, with a total value of about $391 million. At that time, the relevant person in charge of Alibaba Group said, "Based on our own capital management objectives, we sold part of our shares in Xpeng, reducing our shareholding from 10.2% to 7.5%." Xpeng Motors later publicly stated that Alibaba will continue to be The second largest shareholder of Xpeng.

This site noticed that on March 19, Xpeng Motors issued an announcement of "Termination of Related Agreements with Taobao China and Resignation of Non-executive Directors." The announcement stated that based on mutual voluntary negotiation, Taobao China, He Xiaopeng and the company signed a written agreement. According to the agreement, Taobao China, He Xiaopeng and the company confirmed and agreed that the relevant agreements will be terminated as of March 19, 2024 and will no longer have any Potency. The company will continue to cooperate with Alibaba Group in various areas such as R&D and marketing services, and will explore new business cooperation opportunities in the future.

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