According to information disclosed by the Hong Kong Stock Exchange, JPMorgan Chase increased its holdings of approximately 56.36 million shares of Alibaba-W on October 14th, with an average price of HKD 105.0870 and an investment of approximately HKD 5.922 billion. After the increase in holdings, the number of shares held was 1.551 billion, and the shareholding ratio increased from 7.80% to 8.09%.
September has been included in the Hong Kong Stock Connect
There have been continuous updates on Alibaba's capital market recently.
On October 14th, Hang Seng Index Company announced that Alibaba will be included in the Hang Seng Hong Kong Stock Connect Index and other indices after the market closes on October 25th, 2024 (Friday), as Alibaba W (09988. HK) has been included in the Hong Kong Stock Connect and meets the requirements of the relevant index's quick inclusion rules. This will take effect on October 28th, 2024 (Monday).
On September 9th this year, the Shanghai Stock Exchange and the Shenzhen Stock Exchange announced in the evening that due to the adjustment of constituent stocks in the Hang Seng Composite Large Cap Index, Medium Cap Index, and Small Cap Index, the list of Hong Kong Stock Connect targets has been adjusted in accordance with relevant regulations, and will take effect from September 10th, 2024.
Among them, 33 stocks including Alibaba, Zhixing Automotive Technology, SF Express, Henderson Group, Jiahua International, COFCO Packaging, Tianli International Holdings, Jiuxing Holdings, Zhongqing Shares, Daxin Bank Group, Sinopec Refining and Chemical Engineering, Dekang Agriculture and Animal Husbandry, Meimei Jiahe, Chabaidao, Jiangnan Buyi, and China Shipbuilding Leasing were transferred in.
33 stocks including Xiabu Xiabu, Pudat Technology, Baolong Real Estate, Shimao Group, COSCO Shipping Group, Huanan City, Yidianyun, and Agile Group have been removed from the list of Hong Kong Stock Connect targets.
This means that southbound funds will be able to purchase stocks such as Alibaba through the Hong Kong Stock Connect.
A few days earlier, on September 4th, the Hang Seng Index added the Hong Kong Stock Connect Index to the rules for rapid inclusion. Securities that meet the qualifications for southbound interconnectivity trading and have transitioned from secondary listing to primary or dual primary listing will be included in the index in the next monthly regular adjustment if their total market value at the end of trading ranks among the top 10 existing constituent stocks.
Alibaba, which completed its dual major listings on the New York Stock Exchange and the Hong Kong Stock Exchange on August 28th this year, became the first beneficiary of the new rules.
Previously, Alibaba Group announced that it has added Hong Kong as its main listing location and will primarily list on the main board of the Hong Kong Stock Exchange on August 28 this year, becoming a company with dual main listings on the Hong Kong Stock Exchange and the New York Stock Exchange. Now, this action has been successfully completed.
According to data, since Alibaba's second listing in Hong Kong in 2019, most of its publicly traded shares have been transferred to Hong Kong. In terms of market value and trading volume, Alibaba has consistently ranked among the top three Hong Kong stocks.
During the ongoing repurchase in the new fiscal year
On the evening of October 2nd, Alibaba announced on the Hong Kong Stock Exchange that during the quarter ending September 30th, 2024, the company repurchased a total of 414 million ordinary shares (equivalent to 52 million American Depositary Shares) for a total price of $4.1 billion. These repurchases are conducted in the US market and Hong Kong market according to the company's share repurchase plan.
The announcement shows that as of September 30, 2024, the company had 18.62 billion shares of common stock in circulation (equivalent to 2.327 billion American depositary shares). Compared to June 30, 2024, there was a net decrease of 405 million ordinary shares, with a net decrease ratio of 2.1% (after including the shares issued by Alibaba under the equity incentive plan). Under the authorized share repurchase plan by the board of directors, there is still a remaining repurchase quota of $22 billion, valid until March 2027.
According to financial report data, Alibaba has invested $5.8 billion to repurchase 613 million shares of common stock in the first quarter of the 2025 fiscal year, exceeding the strength of previous quarters.
According to previous statistics, in the past fiscal year 2024, Alibaba has invested a total of $12.5 billion in repurchases, ranking first among Chinese concept stocks in terms of repurchase scale. As of June 30, 2024, there is still a remaining repurchase amount of $26.1 billion under Alibaba's share repurchase plan, valid until March 2027.