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Alibaba has 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 company had already submitted a confidential listing application in September this year. According to Tianyancha, T-Head was established in December 2023, with a business scope covering technology services, development, consulting, transfer, and promotion, among other areas. Its shareholders include T-head Limited, Pingtou Di (Shanghai) Technology Co., Ltd., and Shanghai Wuxinyue Technology Partnership (Limited Partnership). In June this year, the legal representative changed from Fu Huili to Yao Gang. During the year, the company increased its capital twice, with registered capital rising from 5 million yuan to 2 billion yuan.
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