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On July 27, CXMT listed on the STAR Market, surging over 455% at the open, with a market cap reaching as high as 3.5 trillion yuan at the time of writing.
Among industry investors, Alibaba holds the highest proportion of shares in CXMT—Alibaba holds nearly 5% of CXMT's shares through two entities combined, with cumulative investments of approximately 7.6 billion yuan. Based on today's latest market capitalization, the value of Alibaba's stake in CXMT exceeds 170 billion yuan, representing an unrealized investment profit of over 160 billion yuan, and a total return multiple of over 20 times since listing.
If this news is true, it would be better to buy Alibaba than CXMT.
$BABA-W(09988.HK)
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