Alibaba Group has repurchased 119 million ordinary shares, totaling US$1.3 billion, over the past three months.

The transactions occurred in the US market as part of the firm’s ongoing share repurchase program.

The Chinese ecommerce company disclosed that it spent US$9.9 billion on stock buybacks during the six months ending September 30, 2024.

As of the end of 2024, Alibaba had US$20.7 billion remaining in its board-authorized share repurchase program, which is set to expire in March 2027.

For the fiscal year 2024, ending March 31, 2024, Alibaba allocated US$12.5 billion for share repurchases.

The company is also divesting non-core assets to align its operations closely with its ecommerce, cloud, and AI sectors.

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