China’s Alibaba Group Holding Ltd. forecast annual revenue to grow at its slowest pace since its 2014 stock market debut as second-quarter results missed expectations due to slowing consumption, increasing competition, and a regulatory clampdown. U.S.-listed shares of Alibaba, which expects its fiscal year 2022 revenue to grow by 20 percent to 23 percent, were…
Alibaba, Xpeng Dip in Hong Kong: JD, Tencent, and Baidu Strike Gains as China Data Beats Estimates
Shares of Alibaba Group Holding Limited and Xpeng Motors fell in Hong Kong on Monday, while JD.Com Inc., Tencent Holdings Inc., and Baidu Inc. traded higher. Li Auto Inc. traded flat. What’s Moving Chinese e-commerce giant Alibaba’s shares traded 0.9 percent lower at about $20.7 in Hong Kong, while e-commerce company JD.Com’s shares gained 1.6…
Alibaba Spotlights Social Welfare in Last Hours of Toned-Down Singles’ Day Shopping Fest
November 11, 2021
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BEIJING—Alibaba Group Holding Ltd. played down its sales figures and touted its social welfare initiatives in the final hours of its Singles’ Day festival on Thursday, marking a shift in tone for the highly-publicized annual online shopping event. Eschewing a rolling tally tracking transactions that had taken center stage in previous years, Alibaba urged viewers…
China’s Rich List Reshuffles as Business Regulations Tighten
November 10, 2021
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AlibabaAsia & PacificChinaChina Business & EconomyChina Rich ListHurunJack MaPony MaSpecial TopicsTencent GroupTikTokWorldZhang YimingZhong Shanshan
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Xi Jinping’s crackdown on business has transformed the ranking of China’s wealthiest people. As indicated by the Hurun China Rich List 2021, many familiar names dropped several places, while at least nine tycoons have had their properties auctioned by the courts. New names were seen in the top three of this year’s rich list, with…
VNET Shares Pop as Fitch Sees Robust Data Center Demand From Alibaba
Fitch Ratings has affirmed China-based carrier-neutral data center operator VNET Group Inc’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at ‘B+.’ The Outlook is Negative, reflecting Fitch’s expectation that VNET’s 2021–2022 funds flow from operations (FFO) leverage will worsen to above 6.0x (2020: 4.2x), the threshold above which we lead to negative rating action….
Poor Report Cards Likely at China’s Big Tech After Regulatory Clampdown
November 8, 2021
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AlibabaBusiness & EconomyChinaChina Business & EconomyChinese RegimeCompaniescrackdowneconomic policiesEconomiesregulatoryTechtechnologyTencent
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SHANGHAI—China’s biggest listed companies Tencent and Alibaba are expected to report a fall in profits and slowing revenue growth in the July–September quarter, hurt by the year-long regulatory clampdown that has upended its tech industry. Beijing has reasserted control over its once-freewheeling Internet sector, punishing well-known names for engaging in what were previously considered regular…
Alibaba Yearly Stock Loss Breaks Record
Amid high tensions between China and Taiwan, President Tsai Ing-wen answers a question that no Taiwanese president has in the past 40 years: whether American troops are stationed on Taiwanese soil. A veteran in Taiwan tells how, as a soldier, he shot from an island at Chinese ships. That spot lies just 2 miles from…
Jack Ma Is a Typical Example of a Red Capitalists’ Fate
News Analysis “Common prosperity” has been storming in Beijing since August. Many Chinese enterprise owners responded to the program enthusiastically with charity donations and pledged their allegiance to the Party through collective activities. When the Chinese Communist Party (CCP) leader Xi Jinping demanded “common prosperity,” he was eyeing the excessive wealth of the Chinese billionaires…
News of Jack Ma, Founder of Alibaba, Resurfacing Overseas, Props up Investor Confidence
October 21, 2021
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The reported reappearance of Jack Ma overseas, for the first time in over a year, has resulted in shares of the tech giant Alibaba Group surging in Hong Kong. Ma is the founder and former chairman of Alibaba Group Holding, which owns the South China Morning Post (SCMP) which reported on Oct. 19 that he…
Alibaba Unveils Custom Arm-Based Server Chip for Cloud Computing Data Centers
SHANGHAI—Chinese tech giant Alibaba Group Holding Ltd. said on Tuesday it has developed a processor that will be used to power servers in its data centers. The development marks the latest foray into semiconductors for the company, mirroring moves from other global cloud computing players while also dovetailing with the Chinese government’s priorities to boost…
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