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On December 19, Alibaba-W (09988.HK) spent 39.99 million USD to repurchase 3.78 million shares.
Gelonghui reported on December 20 that Alibaba-W (09988.HK) announced the repurchase of 3.78 million shares at a cost of 39.99 million USD on December 19.
Guizhou Aviation has formed a strategic cooperation with 1688 to establish a procurement and sourcing platform for the aviation industry.
Sina Technology News, on the afternoon of December 20, reported that recently, Guizhou Zhonghang International Logistics Co., Ltd. (hereinafter referred to as "Guizhou Zhonghang") signed a strategic cooperation agreement with Alibaba 1688 in Hangzhou. According to the agreement, Guizhou Zhonghang will use the 1688 enterprise procurement self-operated mall as the primary online procurement channel, focusing on professional sources in the MRO (industrial supplies that are not production materials) sector. Jiang Yan, the deputy general manager of Guizhou Zhonghang, stated the hope to jointly build a centralized procurement and sourcing platform for the aviation industry with 1688 to improve procurement efficiency, reduce procurement costs, and at the same time promote transparency and compliance in the enterprise procurement process.
Hong Kong stocks volatility | Alibaba-W (09988) fell over 4% in the morning as WeChat e-commerce welcomes significant catalysts. The competitive landscape in the Industry suppresses the valuations of e-commerce platforms.
Alibaba-W (09988) dropped over 4% in the early session, as of the time of writing, it has fallen 3.5% to 80 Hong Kong dollars, with a trading volume of 5.208 billion Hong Kong dollars.
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