Alibaba reduces its stake in NetEase Cloud Music, with shareholding ratio falling from 7.0% to 5.19%

Alibaba reduces its holdings in NetEase Cloud Music

This site reported on July 10 that Hong Kong Stock Exchange documents showed that Alibaba reduced its holdings in NetEase Cloud Music, and its shareholding ratio dropped from 7.0% to 5.19%.

In September 2019, Alibaba and Yunfeng Fund invested US$700 million in NetEase Cloud Music.
• As of the listing, Alibaba and Yunfeng Fund held 9.98% and 4.99% of the shares respectively.
• In December 2021, after NetEase Cloud Music went public, Alibaba began to reduce its stake in Cloud Music.
• In Q2 2022, Alibaba’s equity stake decreased from 9.98% to 9.91%.
• On June 6, 2023, Alibaba reduced its stake from 8.3% to 7.0%.
• In 2023, NetEase Cloud Music’s total revenue was 7.867 billion, a year-on-year decrease of 12.51%.
• NetEase Cloud Music’s gross profit margin and net profit margin are 26.73% and 9.33% respectively, which are far lower than Tencent Music.

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