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Alibaba's Strategic Investment in CXMT Surges, Netting Unrealized Profits of Over 160 Billion Yuan
16 hour ago /
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Author：小编
On July 27th, CXMT made its debut on the Science and Technology Innovation Board (STAR Market), with its stock price soaring over 455% at the opening bell and achieving a peak market capitalization of 3.5 trillion yuan during the trading session. Alibaba, through two of its affiliated entities, holds a nearly 5% stake in CXMT, with a cumulative investment amounting to approximately 7.6 billion yuan. Leveraging the market capitalization recorded on that day, the valuation of Alibaba's holding soared beyond 170 billion yuan, marking unrealized gains exceeding 160 billion yuan and yielding a total return on investment surpassing 20-fold.
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