Yintai Group Chairman Shen Guojun joins forces with Alibaba to initiate the privatization of Yintai Commercial Group

On January 10th, Shen Guojun, Chairman of Intime Group, and Alibaba Group jointly initiated the privatization of Intime Commercial Group.

Yintai Commercial (01833 HK) announced on the morning of January 10th that Alibaba Investment Limited ("Alibaba"), a wholly-owned subsidiary of Alibaba Group Holdings Limited, and Yintai International Holdings Limited ("Joint Offeror"), a wholly-owned subsidiary of Yintai Commercial (Group) Co., Ltd. founder Shen Guojun, have requested the Yintai Commercial Board to submit a proposal to its shareholders regarding the privatization of Yintai Commercial through an agreement arrangement.

The announcement states that in the context of retail industry transformation, the joint offeror plans to cooperate more deeply with the company, explore new development opportunities, and implement a series of long-term development strategies. It is recommended that after implementation, the joint offeror and Yintai Commercial can make strategic decisions, focus on long-term interests, and avoid market expectations and stock price fluctuations related to the identity of publicly listed companies.