Chinese e-commerce giant Alibaba has on Monday filed an updated version of its initial public offering (IPO) prospectus to the US Securities and Exchange Commission (SEC).

For the first time, the company has revealed via its IPO prospectus a 27-person partnership, its nine board members, and its present financial status, according to China Daily.

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The partnership is comprised of 22 management members, four personnel from Small and Micro Financial Services Co, and one management employee from China Smart Logistics. Among others, the name list also includes Alibaba founder Jack Ma, chief executive officer (CEO) Jonathan Lu, and executive vice-chairman Joseph Tsai.

Based on the plans the firm laid out for its corporate structure, partnership will be the main deciding entity in the future listed company. This will be made up of selected employees who have been with Alibaba for more than five years and will be granted the right to nominate most of the members of the nine-person board of directors.

Tsai said the partnership shields the company from the quick fluctuation of the capital market by granting the strategic decision-making power to the core managers of Alibaba. This method would also make sure that the long-term interests of the firm, its shareholders, and its clients are well-preserved.

Just this May, Alibaba had filed for an IPO in the US SEC. Hong Kong was its initial choice for the transaction, but the company pulled out from the original plan because Hong Kong's Securities and Futures Commission did not approve of the Chinese firm's planned corporate structure.

Alibaba's statuses allow its partners to vote on and control the members of the board of directors. The updated IPO it submitted listed all nine board members, including five directors as well as four independent directors.

Tung Chee Hwa, the former chief executive in Hong Kong, is one of the independent directors invited to be part of the board.

The new prospectus also detailed the e-commerce company's financial status. The document said its total revenue had reached US$8.4 billion (CNY52.504), which is a 52.1 percent year on year increase, and its net income had ballooned to US$3.8 billion (CNY23.403) in the fiscal year that ended March 31 of this year.

Alibaba will reportedly go public in the US in August 2014.

TagsIPOs, Alibaba Group