Alibaba Group Holding Ltd. has executed significant financial moves by offloading its stakes in two major companies. The company sold approximately 33 million US-traded shares of XPeng, an electric vehicle maker, raising around $317 million. This sale was conducted at $9.60 per share, booking a 70% loss. Additionally, Alibaba raised $357.8 million through the sale of securities in Chinese streaming platform Bilibili Inc., pricing the sale of 30.85 million American Depositary Receipts (ADRs) at $11.60 each. The sales have led to a notable impact on the market, with XPeng's shares falling 3% in Hong Kong and Bilibili opening down 7.8% after the transactions. These moves come after Alibaba terminated an agreement with XPeng, which was initially made in June 2021 for the appointment of a director.