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on august 28, 2024, alibaba group announced that it had officially completed its dual primary listing in hong kong, becoming a company with dual primary listings on both the hong kong stock exchange and the new york stock exchange. this move marks an important moment in alibaba's development.

from the date when the dual primary listing came into effect, alibaba's secondary listing status on the hong kong stock exchange was officially changed to primary listing status, and the "s" representing the secondary listing in its stock symbol has been deleted from the stock abbreviations of the hong kong dollar and rmb counters.

according to the announcement, after the dual primary listing officially takes effect, alibaba's common shares listed on the hong kong stock exchange and its american depositary shares listed on the new york stock exchange can be continuously converted. it is worth noting that this dual primary listing does not involve new share issuance and financing.

research reports from goldman sachs and other institutions pointed out that after completing the dual primary listing in hong kong, alibaba is expected to be included in the hong kong stock connect, which will help expand the company's investor base, improve the liquidity of its hong kong stocks, and provide investors with greater flexibility to continue holding and trading alibaba shares in the open market.

alibaba group said that completing the dual primary listing is an important step in the company's globalization strategy, which will further enhance the company's competitiveness in the global market and create more value for shareholders.