Baozun E-commerce announced on May 31st that the board of directors learned that on May 30th, the company's major shareholder Alibaba and ChampionKerry Inc. entered into a purchase and sale agreement. Based on this agreement, Alibaba agreed to sell and ChampionKerry Inc. agreed to purchase 26.4694 million Class A common shares of the company, accounting for approximately 14.4% of the total issued shares of the company as of March 31st. Following the transfer of shares, Alibaba will no longer be a shareholder of the company, and ChampionKerry Inc. will become the main shareholder of the company. The company will maintain a mutually beneficial business relationship with Alibaba, including continuing strategic cooperation.