On December 20th, Alibaba announced that Wu Yongming, CEO of Alibaba Group and Chairman of Taotian Group, will also serve as CEO of Taotian Group. From now on, Wu Yongming will concurrently serve as the CEO of Alibaba Group, Taotian Group, and Alibaba Cloud Intelligent Group, helping to lead Taotian's transformation through technological innovation, ensuring that the group focuses on core strategic e-commerce and cloud, forming a unified command and high-intensity continuous investment. Dai Shan, former CEO of Taotian Group, will assist in the establishment of Alibaba Group Asset Management Company, which is a new business function after Alibaba's transformation.