Futu News, January 7, 2019, BABA's latest statement on market rumors is as follows:

1. Jack Ma never transferred or withdrew his shares in Taobao. I have no intention of doing so. 2. This is a very normal and common technical and legal operation in the management process of any company. 3. Such an adjustment will further promote the transparency and openness of BABA's management. It is only good for the future of the company, not bad.

Earlier, it was reported that Jack Ma and Xie Shihuang withdrew from the equity filing of Zhejiang Taobao Network Co., Ltd., adding Hangzhou Zhenxi Investment Management Co., Ltd. as the sole shareholder.

Hangzhou Zhenxi by Hangzhou Zhenqiang Investment Management Partnership and Hangzhou Zhensheng Investment Management Partnership each subscribe 2.5 million yuan in registered capital and hold 50% shares. Zhang Yong, Zhao Ying, Zheng Junfang, Tong Wenhong and Shao Xiaofeng each hold 20% shares in Hangzhou Zhenqiang and Hangzhou Zhensheng. After equity penetration, Zhang Yong, Zhao Ying and other five people each hold a 20% stake in Taobao.

Earlier, BABA's official response to the "Ma Yun clear Taobao equity" has been made the first time. BABA said that information related to this adjustment was disclosed as early as July 2018 in the annual report. Handing over the corresponding equity to the partners will ensure that BABA's partnership system plays a role in corporate governance. This adjustment does not involve the equity adjustment at the level of BABA Group, nor does it affect BABA's partner mechanism. Jack Ma will remain a partner of BABA and will continue to exert an important influence in BABA's partnership mechanism.