On November 22nd, Cailian News Agency reported that today, Alibaba Partner and Chief Talent Officer Jiang Fang posted on the Alibaba intranet, detailing the reasons and consequences of Jack Ma's office's reduction in holdings.
Jiang Fang stated that in order to invest in agricultural technology and obtain funds for public welfare projects both domestically and internationally, Jack Ma's office signed a reduction contract with a stock broker in August this year. Due to the set selling price being much higher than the current stock price at that time, as long as the stock price did not reach the set selling price, the stock would not be sold. Therefore, in fact, Jack Ma's stock was not sold. Jiang Fang also conveyed to Alibaba employees through the intranet that Jack Ma is firmly optimistic about Alibaba, saying, "Alibaba's stock is currently significantly lower than Alibaba's actual value, and he will not sell it.
The following is a post from Jiang Fang's internal website:
Dear friends,
There are two things about Alibaba that have been widely circulated in the past few days, but there are serious errors. I have synchronized the true information I know with everyone, and I welcome everyone to share the information I have provided with colleagues and friends who care about Alibaba's development:
Since the quarterly report released by the group last Thursday, the announcement of Teacher Ma's plan to reduce his holdings in Alibaba's stock and media reports have led students to mistakenly believe that Teacher Ma is not optimistic about the company.
Here, I would like to clarify the fact that Teacher Ma's office needs funds to invest in agricultural technology and public welfare projects both domestically and internationally. Earlier this year, it signed a reduction contract with a stock broker in accordance with SEC 10b5-1 regulations. According to regulations, this conditional future reduction plan will be announced to the public in mid November.
November 16th happened to be the set disclosure time, but the stock broker was not aware that it happened to be the day the company released its financial report. This coincidence was the first cause of misunderstandings among the outside world.
The selling price set in August was much higher than the current stock price, so Teacher Ma did not sell a single share! This is the second misconception from the outside world.
Mr. Ma's office has issued a statement to the public that he will firmly hold Alibaba. This is not a clich é, it is a fact. Alibaba's stock is currently significantly lower than Alibaba's actual value, and he will not sell it.
The external speculation that he sold stocks shows a lack of confidence in Alibaba's business, completely disregarding the fact that this is a long-term plan and the high selling price he set for believing that Alibaba's business will further appreciate.
2. Rumors about Alibaba's plan to lay off 25000 employees: In the past few days, this rumor has spread with a nose and an eye, and it has also created a storyline about how we go to the human resources and social security departments to apply for approval layer by layer. The group has reported to the police to hold the rumormongers accountable. I hope to see the rumormonger take responsibility soon.
I don't think this is my first time debunking rumors on the intranet, and it's probably not my last time either. Throughout the years of entrepreneurship and ups and downs with the company, we have never lacked rumors. The important thing is that every time we believe, we always defeat rumors.
We have gone from negation, questioning, and even rumors to today. Believing, believing in the future, believing in ourselves, is the power that we face all storms. Facing the future, facing the wave of technology, and facing the endless innovation, we still have many important things to do. Let's work together!