Alibaba (NYSE: BABA) plans Banma Network Hong Kong spin-off listing

Rhea-AI Filing Summary

Alibaba Group Holding Limited has filed a Form 6-K as a foreign private issuer, furnishing an announcement about a planned corporate restructuring. The exhibit describes a proposed spin-off and separate listing of Banma Network Technology Co., Ltd. on the Main Board of The Stock Exchange of Hong Kong Limited.

This means Alibaba is considering turning Banma into a separately listed company in Hong Kong, but the excerpt does not include terms, timing, or financial details of the proposed transaction.

Insights

Equity analyst

Alibaba outlines a proposed Hong Kong spin-off of Banma, with deal details not included here.

Alibaba Group Holding Limited is preparing for a possible restructuring by proposing a spin-off and separate listing of Banma Network Technology Co., Ltd. on the Main Board of The Stock Exchange of Hong Kong Limited. A spin-off typically involves moving a business out of the parent group into its own listed company, which can change how that business is valued and governed.

The excerpt does not provide financial metrics, ownership percentages, or a timetable, so it mainly signals intent rather than a completed or fully defined transaction. Actual impact on shareholders will depend on final terms disclosed in future company communications and regulatory approvals referenced in those materials.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 Under

the Securities Exchange Act of 1934

August 21, 2025

Commission File Number: 001-36614

Alibaba Group Holding Limited

(Registrant’s name)

26/F Tower One, Times Square

1 Matheson Street

Causeway Bay

Hong Kong S.A.R.

People’s Republic of China

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F x Form 40-F o

EXHIBITS

Exhibit 99.1 – Announcement – Proposed Spin-off and Separate Listing of Banma Network Technology Co., Ltd. on the Main Board of The Stock Exchange of Hong Kong Limited

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	ALIBABA GROUP HOLDING LIMITED
Date: August 21, 2025	By:	/s/ Kevin Jinwei ZHANG
	Name:	Kevin Jinwei ZHANG
	Title:	Company Secretary

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FAQ

What did Alibaba (BABA) disclose in this Form 6-K?

Alibaba furnished an announcement about a proposed spin-off and separate listing of Banma Network Technology Co., Ltd. on the Main Board of The Stock Exchange of Hong Kong Limited.

What is the key corporate action involving Banma Network Technology in Alibabas filing?

The filing highlights a proposed spin-off and separate listing of Banma Network Technology Co., Ltd. on the Main Board of The Stock Exchange of Hong Kong Limited.

Is the Banma Network Technology spin-off from Alibaba completed?

No. The document refers to a proposed spin-off and separate listing of Banma Network Technology Co., Ltd., indicating it is a potential transaction rather than a completed one.

On which exchange is Banma Network Technology proposed to be listed?

Banma Network Technology Co., Ltd. is proposed for a separate listing on the Main Board of The Stock Exchange of Hong Kong Limited.

Does the Alibaba (BABA) Form 6-K provide financial terms of the Banma spin-off?

The excerpt only identifies a proposed spin-off and separate listing of Banma Network Technology Co., Ltd. and does not include specific financial terms or transaction structure.