Yesterday evening, Alibaba announced on the Hong Kong Stock Exchange that it had repurchased a total of 524 million shares of common stock, equivalent to 65 million American depositary shares, for a total price of $4.8 billion during the quarter ended March 31, 2024. As of the financial year ended March 31, 2024, a total of 1.249 billion shares of common stock were repurchased for a total price of $12.5 billion, equivalent to 156 million American depositary shares. The annual investment of nearly 100 billion yuan in repo means that Ali has become the Chinese Internet company with the largest repo strength in the past fiscal year.