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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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11-10-2017, 03:10 PM,
Post: #153
RE: Alibaba
Alibaba to Spend $15 Billion Exploring 'Moonshot' Projects

By Lulu Yilun Chen
October 11, 2017, 10:28 AM GMT+8

Alibaba Group Holding Ltd. will more than double research and development spending to $15 billion over the next three years to develop next-generation technology, drive its sprawling business and explore moonshot projects that could upend industries.

The e-commerce giant plans to set up seven research labs and hire 100 scientists around the world to delve into artificial intelligence, the Internet of Things and quantum computing, the company said in an emailed statement. Specific fields include machine learning, visual computing and network security.

The program marks a significant ramp-up in its R&D outlay and is intended to help the $469 billion behemoth keep pace with Inc. and Tencent Holdings Ltd. in potentially industry-changing advancements. It’s in line with ambitions voiced by top policy makers who want China to become a global leader in artificial intelligence.

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11-11-2017, 02:33 PM,
Post: #154
RE: Alibaba
Alibaba Singles' Day Sales Hit $8.6 Billion in First Hour

Bloomberg News
November 11, 2017, 12:27 AM GMT+8 Updated on November 11, 2017, 2:47 AM GMT+8

Alibaba Group Holding Ltd. kicked off its annual Singles’ Day shopping bonanza, logging $8.6 billion in sales within the first hour.

Shoppers from at least 192 countries and regions swarmed the e-commerce giant to scoop up discounted lobster, iPhones and refrigerators, at a rate of as many as 256,000 transactions per second. The Chinese company hosted a star-studded gala enlisting tennis star Maria Sharapova and American rapper Pharrell Williams to pump sales. As the event got underway, 93 percent of transactions were done via mobile.

Analysts are expecting another record day on Alibaba’s platforms, with Citigroup Inc. predicting a 31 percent rise in transactions to 158 billion yuan ($23.8 billion). While that’s only half of last year’s growth rate, it still dwarfs other events such as Black Friday and Cyber Monday. Billionaire founder Jack Ma is using this year’s event as a testing ground for his plans to revamp China’s $4 trillion traditional retail sector with technology, an experiment that could help the behemoth gain an edge in China’s saturated retail market.

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