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Alibaba Group Holding Ltd said on Monday night its voluntary conversion to a dual primary listing in Hong Kong has been confirmed by the Hong Kong stock exchange. Alibaba, which already has a secondary listing in Hong Kong, expected the primary listing to be completed by the end of this year, the company said in a statement. The Hangzhou-headquartered company announced on July 26 it would apply for a primary listing in Hong Kong to further expand and diversify its investor base, which would make Alibaba a dual-primary listed company on the New York Stock Exchange and the Hong Kong bourse.

Despite the challenges posed by the COVID-19 resurgence, Chinese tech heavyweight Alibaba Group Holding Ltd delivered better-than-expected financial results in the April-June period, saying it is determined to continuously invest in technology, customer service and logistics operations for sustainable and long-term growth. The company"s total revenue stood at 205.56 billion yuan ($30.4 billion) for the quarter ending June 30, down 1 percent year-on-year compared with 205.74 billion yuan a year ago, beating analysts' expectations. Its adjusted net income fell 30 percent on a yearly basis to 30.25 billion yuan. "During the past quarter, we actively adapted to changes in the

Chinese tech heavyweight Alibaba Group Holding Ltd delivered better-than-expected financial results in the April-June period on Thursday, with total revenue standing at 205.56 billion yuan ($30.4 billion), down 1 percent year-on-year compared with 205.74 billion yuan in the same period last year. Its net income attributable to ordinary shareholders came in at 22.74 billion yuan for the quarter ending June 30, a decrease of 49.63 percent on a yearly basis. Non-GAAP (generally accepted accounting principles) net income reached 30.25 billion, down 30 percent from a year earlier. "During the past quarter, we actively adapted to changes in the macro environment