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on the 25th anniversary of alibaba’s founding, jack ma spoke on the internal website.

jack ma pointed out that the reason why alibaba is alibaba is because it adheres to the spirit of idealism, believes in the power of the market and the value of innovation, and firmly believes that only companies that create real value for society can survive for a long time.

ma yun also mentioned that alibaba is facing many challenges in the face of the rapid development of internet ai technology and fierce industry competition. ma yun emphasized that competition is the driving force for the healthy development of itself and the industry. he reminded alibaba people that even in the fierce competition, they should not forget their original intention.

alibaba is included in hong kong stock connect

on september 9, the shanghai and shenzhen stock exchanges issued a notice stating that due to the adjustment of constituent stocks of the hang seng composite large cap index, mid cap index and small cap index, the list of hong kong stock connect (hereinafter referred to as "hong kong stock connect") under the shanghai-shenzhen-hong kong stock connect has been adjusted and will take effect from the next hong kong stock connect trading day.

among the stocks added to the hong kong stock connect, alibaba has attracted the most attention, which means that southbound funds can buy alibaba shares through the hong kong stock connect starting from september 10.

on september 4, the hang seng index added a new fast inclusion rule for the hong kong stock connect index. securities that are eligible for southbound interconnection trading by converting from secondary listing to primary or dual primary listing will be included in the index in the next monthly regular adjustment if their closing total market value ranks in the top 10 among the existing constituent stocks. alibaba, which completed dual primary listings on the new york stock exchange and the hong kong stock exchange on august 28, became the first beneficiary of the new rule.

on august 28, alibaba group announced that it had officially completed its dual primary listing in hong kong, becoming a company with dual primary listings on the hong kong stock exchange and the new york stock exchange. at that time, the market expected that alibaba would be included in the hong kong stock connect as early as september.

goldman sachs research report predicts that after being included in the hong kong stock connect, southbound funds will bring alibaba a potential capital inflow of us$15 billion to us$16 billion (approximately rmb 106.7 billion to rmb 113.8 billion). morgan stanley research report also mentioned that in the long run, the proportion of southbound funds holdings may remain at a level of more than 10%, providing considerable incremental support for the company's value.

quarterly buyback of $5.8 billion

according to the latest announcement disclosed by alibaba group on the hong kong stock exchange, in the second quarter ending june 30, 2024, the group repurchased a total of 613 million common shares (equivalent to 77 million american depositary shares) at a total price of us$5.8 billion, which was more than in previous quarters.

the announcement stated that the above-mentioned repurchase was carried out in the u.s. and hong kong markets in accordance with the share repurchase plan, including approximately 14.8 million american depositary shares repurchased at a price of us$80.80 per american depositary share at the same time as the pricing of the convertible priority notes issuance on may 23.

as of june 30, 2024, alibaba group has 19.024 billion common shares outstanding. compared with march 31, 2024, the number of common shares outstanding decreased by 445 million shares, a net decrease of 2.3%.

according to statistics, in the past fiscal year 2024, alibaba has invested a total of us$12.5 billion in repurchases, and its repurchase scale has remained the largest among chinese stocks listed in the united states.

as of june 30, 2024, alibaba still has a remaining repurchase quota of us$26.1 billion under its share repurchase plan, which is valid until march 2027.