What is the difference between Alibaba's US and Hong Kong stocks?
阿里巴巴港股和美股的区别主要在于两个交易所在交易规则上的区别，本质都是一个上市公司，区别就在于计价方式不同，交易时间不同，投资者结构可能也有不同。
港股上市的阿里巴巴和美股上市的阿里巴巴是同一家公司，两地是按照比例进行转化发行交易，即1股美股阿里巴巴相当于8股港股阿里巴巴，但是美股与港股的对应权利是一样的。
Professional answer
The main difference between Alibaba's Hong Kong and US stocks lies in the differences in trading rules between the two exchanges. In essence, they are both listed companies, but the differences are in different pricing methods, trading times, and investor structures.
Alibaba listed on the Hong Kong stock market and Alibaba listed on the US stock market are the same company. The two places conduct conversion and issuance transactions in proportion, that is, 1 share of Alibaba's US stock is equivalent to 8 shares of Alibaba's Hong Kong stock, but the corresponding rights of US and Hong Kong stocks are the same.
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