Alibaba Group Holding, China's Internet giant, and Yunfeng Fund have invested 1.33 billion HK dollars ($171.23 million) to obtain 54.3 percent of shares in CITIC 21CN, an integrated information and content service provider.

Alibaba and Yunfeng, which will take 38.1-percent and 16.2-percent stakes respectively, plan to help fund a pharmaceutical information platform being developed by CITIC 21CN Co. The ratio of its current major shareholder CITIC Group will drop to 9.92 percent and its current executive directors will resign and be replaced by five new ones commissioned by Alibaba.

CITIC 21CN's statement filed to the Hong Kong Stock Exchange said the company would continue its current businesses and plans to expand its domestic pharmaceutical data platform. Alibaba will probably introduce new businesses or other forms of cooperation.