Alibaba Gains After Fiscal 2022 Annual Report Clears SEC Review

Alibaba rises as much as 3.3% in US trading after the Chinese e-commerce firm’s annual report for fiscal 2022 cleared the Securities and Exchange Commission’s regulatory review.

• A Hong Kong exchange filing shows the SEC completed its review April 12 after several interactions with the company. The SEC asked Alibaba to disclose its a Cayman Islands holding company with a variable interest entity (VIE) based in China, which “involves unique risks to investors”, the filing shows
  • The SEC has been demanding better disclosures among China-based issuers under VIE structures, with guidance updated in February
• Other US-listed Chinese stocks also gain, ...