HONG KONG -- Jack Ma’s family trusts, JC Properties, and JSP Investment, plan to reduce their holdings by 5 million shares each in Alibaba Group Holding on Nov. 21 for a total of $870.7 million, according to a disclosure published on the website of the U.S. Securities and Exchange Commission on Thursday.

Alibaba is scheduled to report its July-September quarterly earnings later in the day. The e-commerce conglomerate’s shares closed down 2.22% in Hong Kong at HK$81.35 on Thursday.