Alibaba Exec Says Jack Ma Not to Trim Any Stake as Sales Plan Arouses Concern

2023-11-23 10:13:58 - 新浪财经头条

来源:钛媒体

BEIJING,November22(TMTPost)—AtopexecutiveofAlibabaGroupmadeclarificationascofounderJackMa’soffloadingmoveintensifiedconcernsafterthecompanydroppedaspinoffplanforitskeyunit.

Alibaba Exec Says Jack Ma Not to Trim Any Stake as Sales Plan Arouses Concern

Credit:VisualChina

DisclosureofJackMa’ssalesplancoincidedwiththereleasedateofAlibaba’squarterlyfinancialresults,whichledtomisunderstandingthatMaturnedbearish,reportedTencenTechNewsandmanyotherChinesenewsmediaoutletsonWednesday,citingapostofJiangFang,theChiefTalentOfficerandapartnerofAlibaba.

InthepostonAlibaba’sintranet,JiangclarifiedthatJackMa’sofficehassignedanoffloadingcontractwithstockbrokersearlierthisyear,andthecontract,whichaimstofundinvestmentsinagriculturetechnology,publicwelfareandotherprojectsathomeandabroad,requiredMatodisclosetheconditionaloffloadingplaninthefutureinmidNovember.Thebrokersdidn’tknowNovember16isthedaythatAlibabareleasedfinancialreportaswellasthespinoffdevelopmentofitscloudunit,Jiangsaidinthepost. “Mahasn’tsoldasingleshare”forsalesatapricetheysetinAugustismuchhigherthanthecurrentAlibabastockprice,accordingtoJiang.

FundsunderJackMa’sfamilytrustplanstosellabout5millionAmericanDepositoryShares(ADSs)ofAlibabaeach,foratotalofabout$871million,accordingtoafilingwiththeU.S.SecuritiesandExchangeCommission(SEC)onNovember16.ThatdayAlibabasaid,inafinancialreportforthethirdquarter,thatitdecidednottoproceedwithafullspinoffofCloudIntelligenceGroupastherecentexpansionU.S.exportrestrictionsonadvancedcomputingchipshascreateduncertaintiesfortheunit’sprospects.

Alibabawarnedthenewexportcontrol“maymateriallyandadverselyaffect”thecloudunit’sabilitytoofferproductsandservicesandtoperformunderexistingcontracts,therebynegativelyaffectingthecompany’sresultsofoperationsandfinancialcondition.TheChinesee-commercegiantsaiditwillfocuson"developingasustainablegrowthmodelforthecloudunitunderthefluidcircumstances".

Adayafterdisclosureofsalesplan,JackMa’sofficeannouncedlastFridaythatMaisfirmlybullishonAlibabaandwillalsofirmlyholditsshareseventhoughthecompanyiscurrentlyhighlyundervalued.ItaddedthatMa’slatestplanisalong-runplanning.

AtherpostreportedWednesday,JiangFangreiteratedMawillunwaveringlyholdontohisstakes,stressinghisstanceisnotlipservicebutafact.Mawon’tsellAlibabashares,Jiangsaid,quotingaforementionedannouncementofMa’sofficethatthecurrentstockpriceismuchlowerthanthefirm’sactualvalue.TheexecutiveaddedMabelievesAlibaba’sbusinesseswillgetfurtherboost.

Inthesamepost,Jiangdismissedtalksaboutamassivelayoffinvolving25,000people.Shesaidhercompanyhasfiledapolicereportovertherumorandhopetoseetherumormongerstobeheldliable.YanQiao,headofpublicrelationsandvicepresident,hasdeniedthelayofflastweekendandnotedthatissimilartotheoneinMay,whenAlibabasaiditwouldhireatotalof15,000peoplethisyearforallthesixbusinessgroups,asaresponsetotherumor.

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