ALIBABA:

COMPANY TOGETHER WITH ANOTHER MINORITY SHAREHOLDER HAS AGREED TO SELL 100% OF THE EQUITY INTEREST IN INTIME TO A CONSORTIUM OF PURCHASERS COMPRISING YOUNGOR GROUP AND MEMBERS OF INTIME’S MANAGEMENT TEAM.
EXPECTED GROSS PROCEEDS TO ALIBABA FROM THE INTIME SALE IS APPROXIMATELY RMB7.4 BILLION (US$1.0 BILLION), TO RECORD LOSSES OF APPROXIMATELY RMB9.3 BILLION (US$1.3 BILLION)1 AS A RESULT OF THE SALE OF INTIME.