Alibaba: Plans to spin off T-Head Semiconductor and list it independently on the Hong Kong Stock Exchange.

BlockBeats news, November 10 - Alibaba (09988.HK) Group announced on the Hong Kong Stock Exchange that the Hong Kong Stock Exchange has confirmed the Company may proceed with the proposed spin-off. Accordingly, on September 11, 2026, Pingtouge confidentially submitted an application form for listing (Form A1) to the Hong Kong Stock Exchange to apply for approval for the listing of and permission to deal in Pingtouge's H Shares on the Main Board of the Hong Kong Stock Exchange.

The spin-off is proposed to be carried out through a global offering of H Shares, including a Hong Kong public offering and a placing to institutional and professional investors. Upon completion of the proposed spin-off, Pingtouge is expected to remain a subsidiary of the Company. The proposed spin-off is subject to the approval by the Listing Committee of the Hong Kong Stock Exchange, the completion of filing with the China Securities Regulatory Commission, and the final decisions by the Company and Pingtouge. Therefore, shareholders and potential investors of the Company are advised to exercise caution when dealing in or investing in the securities of the Company.