Cai Chongxin and Wu Yongming Increase Their Holdings in Alibaba Shares by Approximately HKD 120 Million

On August 24, Alibaba Group Chairman Cai Chongxin and CEO Wu Yongming increased their holdings in Alibaba shares, totaling approximately HKD 120 million. Cai Chongxin purchased 720,000 shares at an average price of about HKD 112, costing around HKD 80 million; Wu Yongming bought 350,000 shares at an average price of about HKD 111.6, costing around HKD 40 million. Together, they increased their holdings by 1.07 million shares. Previously, Alibaba announced a new share placement of HKD 80 billion, with the proceeds to be used for AI capabilities and infrastructure development, achieving nearly three times oversubscription. The management's increase in holdings reflects confidence in the company's AI strategy.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.