On December 16th, Beijing time, according to documents from the US Securities and Exchange Commission, Alibaba Group (hereinafter referred to as "Alibaba") subsidiary Taobao China Holdings Limited (hereinafter referred to as "Taobao China") plans to sell 25 million shares of equity in Xiaopeng Automobile Co., Ltd. (hereinafter referred to as "Xiaopeng Automobile"), with a total value of approximately 391 million US dollars.