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20-02-2017, 01:18 PM,
Post: #151
RE: Alibaba
Alibaba extends bricks-and mortar retail push with Bailian deal

Chinese tech giant Alibaba Group Holding Ltd has formed a strategic partnership with retail conglomerate Bailian Group, extending a push into bricks-and-mortar retail as online growth slows.

The move comes on the heels of a recent purchase of a stake in retailer Suning Commerce Group Co Ltd as well as plans to take a controlling stake in Intime Retail Group Co Ltd and privatize it.

There are currently no plans for financial investment, an Alibaba spokesman said.

Shanghai-based Bailian Group is one of China's largest retailers by sales, operating 4,700 outlets in 200 cities including supermarkets, convenience stores and pharmacies. Alibaba has an active user base of around 500 million.

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19-05-2017, 03:09 PM,
Post: #152
RE: Alibaba
Alibaba posts record 2016 revenue of US$22.96 billion, even as profit slips

by Zen Soo
PUBLISHED : Thursday, 18 May, 2017, 8:17pm
UPDATED : Friday, 19 May, 2017, 9:46am

Alibaba Group’s 2016 revenue soared to a record, spurred by the increasing penchant by Chinese consumers to buy everything online, from clothing to food and electronics. Net profit missed analysts’ estimates due to a larger tax bill and investments in cloud computing.

Revenue jumped 56 per cent to 158.27 billion yuan (US$22.96 billion) for the year ended March 31, even as net income fell 42 per cent to 41.23 billion yuan. Fourth-quarter sales rose for the seventh consecutive quarter to 38.58 billion yuan, while net income jumped 85 per cent to 9.85 billion yuan during the three months.

Alibaba’s shares plunged as much as 5.6 per cent in New York trading after results were announced, before recovering to close the day 0.5 per cent higher at US$121.27.

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