On the evening of December 1st, A-share listed companies YTO Express, Red Star Macalline, and Liren Lizhuang(Lily&Beauty) successively released equity change reports stating that their shareholders holding more than 5% of the shares, Alibaba (China) Network Technology Co., Ltd. (hereinafter referred to as “Alibaba Network”), will transfer its holdings of listed company shares to a newly established consistent action person company – Hangzhou Haoyue Enterprise Management Co., Ltd. (referred to as “Hangzhou Haoyue”). After the transaction is completed, Alibaba Network will no longer directly hold shares in the listed company.
The reasons for this major change in equity among the three companies are stated in identical announcements: to achieve independent development of Alibaba Network’s main business and non-core businesses, each focusing on their respective roles; improve operational efficiency; further realize asset preservation, appreciation, and sustainable development; create competitive enterprises. Alibaba Network has decided to implement continued separation by dividing into Alibaba Network (continuing company) and newly established companies Hangzhou Haoyue, Chuanbin Technology, and Chuanhang Technology. The shareholders and shareholding ratios of the continuing company and each newly established company after separation remain consistent with those before separation for Alibaba Network.