According to Baozun E-Commerce's announcement, the board of directors learned that on May 30, 2024, Alibaba, the Company's main shareholder, entered into a sales agreement with ChampionKerryInc. According to this, Alibaba agreed to sell, and ChampionKerryInc agreed to purchase 26,469,422 Class A common shares of the Company, accounting for approximately 14.4% of the total number of shares issued by the Company on March 31, 2024. Following the transfer of shares, Alibaba will no longer be a shareholder of the Company, and ChampionKerryInc. will become the Company's main shareholder. The Company and Alibaba will maintain a mutually beneficial business relationship, including continuing strategic cooperation.