Alibaba Group Holdings Limited announced that, as of August 28, 2024, the company will transition from a secondary listing status on the Hong Kong Stock Exchange (HKEX) to a dual primary listing. This means that the company will operate as a primary listed company on both the HKEX and the New York Stock Exchange, and will remove the 'S' designation from its stock symbol. The transition will require the company to comply with all relevant Hong Kong listing rules, securities and futures ordinance, and takeover code for dual primary listed issuers, including certain exemptions previously obtained as a secondary listed issuer. The necessary shareholder approval was obtained at the annual general meeting on August 22, 2024 to comply with the relevant regulations. Additionally, the...Show More

Alibaba Group Holdings Limited announced that, as of August 28, 2024, the company will transition from a secondary listing status on the Hong Kong Stock Exchange (HKEX) to a dual primary listing. This means that the company will operate as a primary listed company on both the HKEX and the New York Stock Exchange, and will remove the 'S' designation from its stock symbol. The transition will require the company to comply with all relevant Hong Kong listing rules, securities and futures ordinance, and takeover code for dual primary listed issuers, including certain exemptions previously obtained as a secondary listed issuer. The necessary shareholder approval was obtained at the annual general meeting on August 22, 2024 to comply with the relevant regulations. Additionally, the company's dual-class share structure will continue, and Alibaba partners will retain the right to nominate directors. The company emphasized that failure to comply with the relevant rules could result in potential violations and disciplinary actions. The company will continue to prepare its financial statements in accordance with US Generally Accepted Accounting Principles and provide reconciliation tables between US GAAP and International Financial Reporting Standards in its annual and interim reports. Mr. Tsai Chongxin has been appointed as the new authorized representative with effect from the effective date.