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      Alibaba Sells Lingxi Interactive Entertainment to Xincheng Capital

      Alibaba has confirmed the sale of its gaming subsidiary, Lingxi Interactive Entertainment, to Xincheng Capital, a private equity investment firm under CITIC Capital. The transaction agreement marks a significant shift in ownership, although the existing management team will remain in place to ensure stability and continuity in operations.

      Lingxi Interactive Entertainment, which has its roots in Alibaba's acquisition of the Jiuyou channel business in 2014, has developed a notable presence in the gaming industry. The company gained recognition with the successful launch of its self-developed game, 'Three Kingdoms Strategy Edition,' in 2019, which became a leading title in the strategy game category. Recent leadership changes included the stepping down of founder Zhan Zhonghui as CEO in March 2024, with Zhou Bingshu, the producer of 'Three Kingdoms Strategy Edition,' taking over the role.

      Xincheng Capital, which has a history of over 100 investments and manages approximately $10.5 billion in funds, is expected to bring new momentum to Lingxi's development. In an internal communication, CEO Zhou Bingshu expressed appreciation for Alibaba's role in nurturing the company and conveyed optimism about the future under the new ownership. The financial details of the transaction have not been disclosed.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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