On November 10, Alibaba announced plans to spin off its wholly-owned subsidiary T-Head (Shanghai) Technology Co., Ltd. for an independent listing on the Main Board of the Hong Kong Stock Exchange. The Hong Kong Stock Exchange has confirmed that the spin-off may proceed, and T-Head submitted a confidential A1 listing application on September 11, 2026. The spin-off is proposed to be implemented through a global offering of H shares, comprising a Hong Kong public offering and a placing to institutional and professional investors.
