Did China Resources Vientiane Life take over Ali's Hangzhou Wushan Plaza project? People close to Ali called it “fake”

Breakings ·  Feb 22 14:39
In response to recent market news that China Resources Vientiane Life has taken over Ali's Hangzhou Wushan Plaza project, a person close to Ali said, “This is fake.” At the same time, I learned from China Resources Vientiane Life that it has not joined the project either. According to public information, the Wushan Plaza underground space phase I commercial plot was contested by Hangzhou Chuanfu Network Technology Co., Ltd., a subsidiary of Ali, at a price of 283 million yuan in May 2021. Furthermore, regarding the recent market circulation about Runxin Commercial Investment (Shenzhen) Co., Ltd. and Chuanfu (Hangzhou) Real Estate Co., Ltd. “setting up a joint venture to conduct commercial operations related to commercial real estate”, relevant sources said that China Resources Vientiane Life has always cooperated with Ali over the years, including undertaking its office buildings, industrial parks, etc., but this screenshot has nothing to do with the Wushan Plaza project. It is also worth mentioning that at the beginning of February this year, market news indicated that Ali was considering selling the Yintai Department Store it owns. In Ali's subsequent conference call on February 7, Ali management responded, “We still have some traditional physical retail businesses on our balance sheet, and these are not our core focus. If the withdrawal can be completed, it is also very reasonable”.

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