ASR announced that its shareholder Alibaba Network plans to reduce its holdings of the company's shares by no more than 12.549 million shares, accounting for no more than 3% of the company's total share capital, through block trades and centralized bidding transactions within three months after 15 trading days from the date of this announcement. The reduction price will be determined at market price. If the company undergoes any changes in share capital, such as stock dividends or capital reserve transfers, during the reduction period, the number of shares to be reduced will be adjusted accordingly