Alibaba is not listed on the A-shares. Alibaba was originally planning to list on the Hong Kong stock market, but because it could not have different rights for the same shares, it finally chose to list in the United States. But last year, Alibaba returned to the Hong Kong stock market because the Hong Kong stock market and the domestic capital market gradually opened up. This is a simultaneous listing, listing on the US and Hong Kong stocks at the same time, and the value is synchronized with the US stock market.