Shulou(Shulou.com)11/24 Report--

CTOnews.com, November 17, according to Sina Science and Technology, in response to the "Ma Yun Family Trust's proposed reduction of Alibaba shares", the lawyer in Ma Yun's office replied that the disclosed sale plan is a long-term plan, and there is no actual reduction at present. Jack Ma is firmly optimistic about Ali, the current stock price is far lower than the actual value of Ali, will still firmly hold Ali stock.

According to documents disclosed on the official website of the Securities and Exchange Commission (SEC), the Ma family trust JC Properties Limited (a British Virgin Islands company) and JSP Investment Limited (a British Virgin Islands company) plan to reduce their holdings in each of Alibaba's founder shares on November 21, involving a total stock market capitalization of $870.7 million (CTOnews.com Note: about 6.313 billion yuan), CTOnews.com reported yesterday.

Alibaba, whose Hong Kong shares closed down 2.22 per cent at HK $81.35 yesterday, is about to report quarterly earnings from July to September.

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