(Yicai) Dec. 4 -- Hangzhou Alibaba Network Technology, a unit of Chinese e-commerce giant Alibaba Group Holding specialized in cloud computing, digital media and entertainment, and innovative businesses, transferred its stake in seven listed companies to its newly-established affiliate Hangzhou Haoyue Business Management to focus on the independent development of its main businesses.

Meinian Onehealth Healthcare Holdings announced yesterday that Alibaba Network handed its whole 8 percent stake in the Chinese medical institution at CNY6.17 (87 US cents) apiece to Haoyue Management.

On the same day, Chinese smart transportation and networking solutions provider China TransInfo Technology, advertiser Focus Media, and furniture retailer Easyhome also announced that Alibaba Network had transferred its whole 14.1 percent, 6.1 percent, and 9.2 percent stakes in the companies at the prices of CNY12.08 (USD1.69), CNY6.62, and CNY3.55 apiece, respectively, to Haoyue Management.

On Dec. 1, express delivery firm YTO Express Group, furniture retailer Red Star Macalline Group, and online cosmetics retailer Lily & Beauty said in separate statements that Alibaba Network gave 11 percent, 5.7 percent, and 17.6 percent of their shares to Hangzhou Haoyue at prices of CNY13.15, CNY4.24, and CNY11.26 apiece, respectively.

The equity transfer did not change the actual controllers of the companies and will not affect their corporate governance structure, the seven listed firms noted.

Alibaba plans to raise its returns on invested capital to double-digit levels in the next few years, an executive said at the company’s third-quarter earnings conference call. To this end, Alibaba will increase investment in core businesses and turn investments in non-core businesses into profit, the executive added.

Alibaba Network was founded in 1999 and went public in 2019. Alibaba’s marketplace Taobao is the company’s largest shareholder with a 57.6 percent stake, followed by Zhejiang Tmall Technology at 35.8 percent and Alibaba’s business-to-business arm Alibaba.Com at 6.7 percent. Alibaba Network has invested in 127 enterprises, according to corporate information platform Tianyancha.

Haoyue Management was established on Oct. 24, with the exact same shareholder composition as Alibaba Network.

Shares of Meinian Onehealth [SHE: 002044] were trading down 1.5 percent at CNY6.09 as of lunch break in Shenzhen today. China TransInfo [SHE: 002373] and Focus Media [SHE: 002027] fell 0.6 percent and 1.1 percent to CNY12.16 and CNY6.23, respectively. Easyhome’s stock [SHE: 000785] plunged 3.8 percent to CNY3.52.

YTO Express [SHA: 600233] and Lily & Beauty [SHA: 605136] were trading 1.7 percent and 2.7 percent down at CNY12.78 and CNY11.38, respectively, as of today’s lunch break in Shanghai. Macalline [SHA: 601828] was unchanged at CNY4.29.

Editor: Futura Costaglione