On September 23, BABA-W declined 3.31% in regular trading, trading at 111.1 HKD/share, with turnover of 1.621 billion HKD. The pullback came after the stock had rallied approximately 3% in the prior session on the back of its AI chip launch event.

On the news front, the company disclosed that its annual general meeting held on September 22 approved all proposed resolutions, including authorizing the board to issue up to 10% of the outstanding ordinary shares — equivalent to approximately 1.989 billion shares — at a discount of no more than 10% to the benchmark price. The potential dilution from this issuance mandate weighed on market sentiment.

Additionally, it was reported that BABA-W sold approximately 25 million ZTO Express ADRs via an unregistered block trade at 20.02 USD per share, representing a 4.5% discount to the previous closing price, generating roughly 500 million USD in proceeds. This transaction is part of a broader systematic divestment of non-core logistics assets over the past two years, during which the company has progressively reduced stakes across multiple express delivery firms to refocus capital toward AI infrastructure and cloud computing.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)