- Alibaba Group Holding Ltd (NYSE:BABA) founder Jack Ma Yun and movie star Jet Li have quit Taiji Zen International lifestyle firm, the Global Times reports.
- Li stepped down as President and GM of Taiji, while Ma led Hangzhou Kunbao Investment Consultancy Co no longer remained a shareholder of the company.
- Taiji’s official store on Alibaba’s online marketplace, Taobao, has few fans, with mats for exercising tai chi, priced at 599 yuan ($94), showing zero sales.
- Early in October 2020, Ma stepped down as director of Taiji, with former VP of Alibaba Fan Chi no longer a director of Taiji Zen as of January 2022.
- Ma and Li co-founded Taiji to promote tai chi, a traditional form of Chinese martial arts. The pair also withdrew from several cooperation projects.
- During the Singles Day shopping festival in 2017, Ma debuted in a movie called Gong Shou Dao, or The Art of Attack and Defence, alongside Li, Donnie Yen, and other movie stars to promote tai chi.
- The movie did not garner much attention.
- Price Action: BABA shares traded lower by 1.58% at $101.89 on the last check Monday.
