Responding to reports that Jack Ma no longer holds shares of e-commerce platform taobao.com, Alibaba said on Monday that Jack Ma continues to be the group's partner and plays a key role in Alibaba's partner mechanism.
Media reports had said that Hangzhou Zhenxi Investment Management Co is now the only shareholder of taobao.com since Jack Ma is no longer on the list, citing information from a data search platform Tianyancha.
The adjustment was included in the annual report released last July, and it does not affect the group, the conglomerate responded on its Weibo account, noting Jack Ma is still a partner in the group.
Hangzhou Zhenxi, controlled by five top executives of Alibaba, is an investor in almost all major business lines of the group including taobao.com, tmall.com and Alibaba Cloud.
