Today, Lingxi Mutual Entertainment CEO Zhou Bingshu issued a letter from all internal employees announcing that Alibaba Group and Xinchen Capital have formally reached a transaction agreement. According to the agreement, Alibaba will sell its shares in Lingxi Mutual Entertainment, and Xinchen Capital will become the new shareholder of Lingxi Mutual Entertainment. According to some sources, Xinchen Capital, a subsidiary of CITIC Capital, purchased Alibaba's Lingxi Entertainment for over 1.5 billion US dollars. The previous “candidates” included a number of listed game companies, such as 37 Entertainment, Giant Network, and China's Ruyi, which participated in the entire bidding process, but all were eliminated.

Today, Lingxi Mutual Entertainment CEO Zhou Bingshu issued a letter from all internal employees announcing that Alibaba Group and Xinchen Capital have formally reached a transaction agreement. According to the agreement, Alibaba will sell its shares in Lingxi Mutual Entertainment, and Xinchen Capital will become the new shareholder of Lingxi Mutual Entertainment. According to some sources, Xinchen Capital, a subsidiary of CITIC Capital, purchased Alibaba's Lingxi Entertainment for over 1.5 billion US dollars. The previous “candidates” included a number of listed game companies, such as 37 Entertainment, Giant Network, and China's Ruyi, which participated in the entire bidding process, but all were eliminated.