The reporter learned from sources close to Alibaba that Alibaba Group released an internal email on March 11th stating that the performance and annual incentives for the new fiscal year have been launched. In order to improve the certainty and liquidity of employee compensation and income, the group has made several adjustments to Alibaba's (AGH) equity incentive policy. Specifically, it can be divided into the adjustment of incentive tools and the adjustment of attribution rhythm. In terms of adjusting incentive tools, starting from April 1, 2024 in the new fiscal year, newly granted performance and promotion equity incentives will be adjusted to a combination of "equity+long-term cash", and each business will formulate its own policies based on its own situation. In terms of adjusting the attribution rhythm, the newly awarded performance and promotion awards starting from April 1, 2024 will accelerate the frequency of attribution and distribution, from the original annual attribution to quarterly attribution, with attribution of 1/16 per full quarter. According to sources close to Alibaba, the situation is true.