Alibaba announced that during the quarter ending June 30, 2024, the company repurchased a total of 613 million ordinary shares (equivalent to 77 million American Depositary Shares) for a total price of $5.8 billion, including approximately $1.2 billion of American Depositary Shares repurchased through non-public market transactions on May 23, 2024, when convertible notes were issued. As of June 30, 2024, the company has 19.024 billion shares of common stock in circulation (equivalent to 2.378 billion American depositary shares). Compared to March 31, 2024, there was a net decrease of 445 million ordinary shares, with a net decrease ratio of 2.3% (after considering the shares issued under the equity incentive plan).