Jinwu Financial News | According to reports citing sources, Alibaba (09988) plans to sell its shares in Intime Retail to the leading company in the textile and Outfits Industry, Youngor Group. It is reported that both parties intend to hold a press conference to announce the Trade.

As early as February this year, reports cited sources indicating that Alibaba had been in contact with several companies to assess their interest in acquiring Intime Retail.

It is reported that Intime is part of Alibaba's New Retail Global Strategy. In 2017, during the privatization Trade led by Alibaba, Intime was valued at approximately 4 billion USD (about 31.2 billion HKD).