In the second quarter of 2025, Alibaba repurchased 56 million ordinary shares on the US market, amounting to a total value of US$805 million, equivalent to approximately 7 million American Depositary Shares (ADS). This transaction was executed as part of the company's ongoing share repurchase program. As of June 30, a remaining quota of US$19.3 billion was still available under this program, which remains valid until March 2027.