It is reported that Alibaba Group Holding Limited ("Alibaba") announced through its board of directors on Thursday (August 21st) its proposal to spin off Zebra Network Technology Co., Ltd. ("Zebra"), an autonomous driving software company, and seek an independent listing of Zebra on the Main Board of the Hong Kong Exchanges and Clearing Limited ("HKEX"). Zebra was once a subsidiary of Alibaba, but has not been included in Alibaba's consolidated financial statements since December 27th, 2024. The spin-off plan proposed by the company has been confirmed by HKEX.

According to the announcement, the spin-off will be conducted by way of a global offering. Upon completion of the spin-off, Alibaba's shareholding in Zebra will decrease from the current 44.72% to 30%. The plan to spin off Zebra for listing in Hong Kong is still subject to the approval of the China Securities Regulatory Commission ("CSRC"), and no specific listing date has been disclosed yet.

The announcement states that the spin-off will be beneficial to both Alibaba and Zebra. It will better reflect Zebra's own value and enhance Zebra's operational and financial transparency, enabling investors to separately evaluate and assess the performance and potential of Zebra and the remaining business of Alibaba (post-spin-off).

As introduced, Zebra's unique automotive system solutions will attract investor groups focusing on relevant business areas. The listing in Hong Kong will enhance Zebra's independent image among customers, suppliers and potential strategic partners, allowing Zebra to better negotiate and secure more business opportunities. Alibaba will also share in the benefits brought by Zebra's growth through its remaining shareholding in Zebra.

Zebra is mainly engaged in the development of intelligent cockpit solutions and provides three categories of solutions, including system-level OS solutions, end-to-end AI full-stack solutions and in-vehicle platform services.

It is reported that Alibaba Group Holding Limited ("Alibaba") announced through its board of directors on Thursday (August 21st) its proposal to spin off Zebra Network Technology Co., Ltd. ("Zebra"), an autonomous driving software company, and seek an independent listing of Zebra on the Main Board of the Hong Kong Exchanges and Clearing Limited ("HKEX"). Zebra was once a subsidiary of Alibaba, but has not been included in Alibaba's consolidated financial statements since December 27th, 2024. The spin-off plan proposed by the company has been confirmed by HKEX.

According to the announcement, the spin-off will be conducted by way of a global offering. Upon completion of the spin-off, Alibaba's shareholding in Zebra will decrease from the current 44.72% to 30%. The plan to spin off Zebra for listing in Hong Kong is still subject to the approval of the China Securities Regulatory Commission ("CSRC"), and no specific listing date has been disclosed yet.

The announcement states that the spin-off will be beneficial to both Alibaba and Zebra. It will better reflect Zebra's own value and enhance Zebra's operational and financial transparency, enabling investors to separately evaluate and assess the performance and potential of Zebra and the remaining business of Alibaba (post-spin-off).

As introduced, Zebra's unique automotive system solutions will attract investor groups focusing on relevant business areas. The listing in Hong Kong will enhance Zebra's independent image among customers, suppliers and potential strategic partners, allowing Zebra to better negotiate and secure more business opportunities. Alibaba will also share in the benefits brought by Zebra's growth through its remaining shareholding in Zebra.

Zebra is mainly engaged in the development of intelligent cockpit solutions and provides three categories of solutions, including system-level OS solutions, end-to-end AI full-stack solutions and in-vehicle platform services.