Alibaba's Restructuring: What's Next?

JD.com will merge its 7th fresh, which is its grocery retail store with other units to create something like the innovation retail that you said. So it will list as early as two weeks, which is July or August, and it will go public in November. Apart from this grocery spin-off, we also have the logistics arm of Alibaba, Tanya. That's also looking to go public next year if things go as planned.