Alibaba announced that the company and another minority Shareholder agreed to sell 100% of the equity of Intime to a buyer consortium composed of Youngor Group and members of the Intime management team. Alibaba currently Holds about 99% of Intime's equity, and the total proceeds from the sale of Intime are approximately 7.4 billion yuan. Alibaba expects to recognize a loss of about 9.3 billion yuan from the sale of Intime. The completion of the sale of Intime is subject to the review of concentration of operators in China and other customary closing conditions.