Cai Chongxin spends another HKD 82 million to increase his stake by 720,000 shares in Alibaba

On August 25, according to Hong Kong Stock Exchange documents, Alibaba Group Chairman Cai Chongxin purchased another 720,000 shares of Alibaba on Tuesday, costing 82 million Hong Kong dollars, following his initial purchase of 720,000 shares.

After Alibaba announced a new share placement plan of 80 billion Hong Kong dollars, Group Chairman Cai Chongxin and CEO Wu Yongming increased their holdings by a total of approximately 120 million Hong Kong dollars in Alibaba shares. Among them, CEO Wu Yongming bought 350,000 shares of Alibaba's Hong Kong stock at an average price of about 111.6 Hong Kong dollars, costing approximately 40 million Hong Kong dollars. Together, the two increased their holdings by 1.07 million shares, totaling about 120 million Hong Kong dollars.

The proceeds from Alibaba's 80 billion Hong Kong dollar new share placement will be fully invested in full-stack AI capabilities and AI infrastructure construction. The placement received active subscriptions from long-term investors such as global sovereign wealth funds, ultimately achieving nearly 3 times oversubscription.