According to business registration records on Tianyancha, Intime Department Stores Co has undergone a shareholder change. River Three Holdings Limited has exited, and Hangzhou Intime Mingyi Commercial Management Co — a wholly owned subsidiary of Youngor Group — has become the sole shareholder. This change follows Alibaba’s announcement in December 2023 that it, along with another minority shareholder, had agreed to sell 100% of its stake in Intime to a consortium formed by Youngor Group and members of Intime’s management. Alibaba disclosed it would receive approximately 7.4 billion RMB ($1.03 billion) from the sale, and expects to record a loss of about 9.3 billion RMB ($1.29 billion) from the transaction. Youngor, a major Chinese apparel and retail group, has in recent years expanded into diversified investments, with a growing focus on retail.