Alibaba announced on Aug 21, 2025 a proposed Hong Kong listing of Banma, in which it held about 44.72%

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

On Aug 21, 2025, Alibaba Group announced that Banma Network Technology Co., Ltd., a former subsidiary that develops smart cockpit solutions, was seeking a separate listing of its shares on the Main Board of the Hong Kong stock exchange. Alibaba held approximately 44.72% of Banma at the time and said it would continue to hold over 30% after the spin-off and adjustments to Banma's shareholding structure. Alibaba said the size and structure of the offering had not been finalized and that the spin-off was subject to, among other things, approval from the exchange's listing committee. The announcement was attached to a Form 6-K, the report a foreign company files with the US Securities and Exchange Commission, filed on Aug 21, 2025.1^,2^,3^,4^,5^,6^,7^,8^,9^,10