Wal-Mart will be selling its Yihaodian stake to JD.com in return for a 5% equity interest into the website. I don’t really think this materially alters the earnings/revenue model of Wal-Mart, but it’s nice to know that they’re gaining further exposure to the Chinese market via a viable competitor in the market, which gives it some incremental advantages.UBS analyst Michael Lasser made some compelling points today:Also, it should benefit WMT's remaining assets in China, including 396 Supercenters & 12 Sam's Clubs (it will also retain its WMT & Sam's Club websites). We est. WMT China saw ~$18 b in FY'16 sales (on its base of ~$479 b in net sales). We also est. the divestiture resulted in a $500 mm - $600 mm profit for the retailer (translating to a 1- time EPS boost of $0.16 - $0.19 in 2Q). Further, Yihaodian was likely losing money, so the transaction should be slightly accretive to earnings going forward.In a nut shell it seems increasingly likely that the retailer may deepen its presence in China going forward, and the divestiture is at least incrementally positive to profitability with the divestiture resulting in slight accretion for shareholders. Given the massive revenue base of Wal-Mart (roughly $480 to $490 billion in revenue by end of FY’17), I wouldn’t anticipate too material of an impact on reported earnings.That being the case, the stock has been relatively undervalued for quite a while, and is starting to move higher. I think the stock is still attractive with some additional upside. I haven’t run a valuation model quite yet, but I believe the sleepy retail giant is at least awaking from its stupor.