On November 4th, Alibaba's Hong Kong stock market announced that the company spent $19.9728 million to repurchase 1.6332 million shares on November 1st, 2024, at a repurchase price ranging from $12.18 to $12.29 per share.
During the continuous repurchase process
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.
Already included in the Hong Kong Stock Connect
Earlier 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.
As a result, southbound funds will be able to purchase stocks such as Alibaba through the Hong Kong Stock Connect.
In fact, on September 4th, the Hang Seng Index added the Hong Kong Stock Connect Index and quickly incorporated it into the rules. Securities that meet the qualifications for southbound interconnectivity trading and have been converted 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.
This also means that Alibaba, which completed its dual major listings on the New York Stock Exchange and the Hong Kong Stock Exchange on August 28th this year, has become the first beneficiary of the new rules.