(Yicai Global) Nov. 2 -- Beijing Shiji Information Technology Co. [SHE:002153], an information system developer in China, plans to integrate its business in retail information systems and transfer part of its equities of the integrated subsidiary to the investors of the e-commerce giant Alibaba Group Holding Ltd. [NYSE:BABA].

To this end, Shiji Information entered into a framework agreement with Alibaba Investment Limited. The company will integrate its business in retail information systems to establish Shiji Information Retail Information Technology Co., said a statement from the company today.

After finishing the integration, Shiji Information will transfer 38 percent of its equities of Shiji Retail Information Technology to the related parties of Alibaba Investment with no more than USD500 million.

Taobao (China) Software Co., a subsidiary of Alibaba, became the second largest shareholder of Shiji Information with 13.07 percent of equities, by subscribing its stocks issued privately in December 2015, today's statement disclosed, making the transaction about Shiji Retail Information Technology a type of related-party transaction.

Shiji Information said this transaction was to help the company integrate its resources in the sector of retail business, which will also bring in the technical and financial support of Alibaba to facilitate its transformation from a software supplier in consumption industry to a platform operator.