According to Game Knowledge, Alibaba Group plans to sell its gaming business brand Lingxi Games. It has reportedly contacted at least five potential buyers, including 37 Interactive Entertainment, China Ruyi, Century Huatong, Giant Network, and two private equity firms considering a joint acquisition. Insiders reveal the sale price ranges from 7 to 9 billion yuan (approximately 1 to 1.3 billion US dollars). Some gaming industry insiders speculate that Alibaba’s move aims to supplement cash flow by divesting non-core businesses.
Lingxi Games owns several well-known mobile games including “Romance of the Three Kingdoms Strategy Edition” and “One Piece: Bloodline” (One Piece: The Line of Bloodline), holding a certain scale in the domestic mobile game market. Alibaba has been continuously shrinking its non-core businesses in recent years, having sold or reduced stakes in multiple non-e-commerce sector assets. Currently, neither Alibaba nor the aforementioned potential buyers have publicly responded. Whether the deal will be finalized and the ultimate buyer remain to be confirmed.