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11-11-2019, 07:03 PM.
Post: #171
RE: Alibaba
Alibaba's Singles' Day sales hit $30 billion, on track for record

Josh Horwitz
NOVEMBER 11, 2019 / 12:10 AM

HANGZHOU, China (Reuters) - Chinese retailer Alibaba Group Holding Ltd said on Monday that sales for its annual Singles’ Day shopping blitz crossed the $30 billion mark at 4:31 p.m. (0831 GMT), putting the event on track to set a record in its 11th year.

The figure is equivalent to over 80% of U.S. rival Inc’s online store sales in the latest quarter and matches takings across Alibaba’s e-commerce platforms on Singles’ Day last year.

Sales growth for the full 24-hour event, however, is likely to fall short of the year earlier, analysts said, held back by a slowing overall e-commerce industry in China at a time when the country’s economic expansion is heading toward a historic low.

The event, a gauge of Chinese consumer sentiment, has also become a shop window this year for Alibaba as the firm plans to sell $15 billion worth of shares in Hong Kong this month. The U.S.-listed firm has spent big to diversify its business yet still earns over fourth-fifths of revenue from e-commerce.

Alibaba turned China’s informal Singles’ Day into a shopping event in 2009 and built it into the world’s biggest online sales fest, dwarfing Cyber Monday in the United States which took in $7.9 billion last year. The name is a play on the date, Nov. 11, rendered 11/11 - or Double Eleven, as the event is also known.

The event has since been replicated at home and abroad, with Singles’ Day promotions found at rivals such as China’s Inc and Pinduoduo Inc as well as South Korea’s 11thStreet and Singapore’s Qoo10.

But sales growth for Alibaba on Singles’ Day has weakened as China’s economy slowed. Last year, it posted a 27% year-on-year sales increase, the lowest in the event’s 10-year history. Citic Securities forecasts sales to rise 20-25% this year.


The Chinese retail juggernaut, with a market value of $486 billion, kicked off this year’s 24-hour shopping bonanza with a live performance by U.S. pop star Taylor Swift followed by live-streamed marketing of over 1,000 brands.

Sales hit $1 billion after one minute and eight seconds and reached 158.31 billion yuan ($22.6 billion) in the first nine hours, up 25% from the same point last year, Alibaba said.

The firm also said 84 brands including those of Apple Inc, L’Oreal SA and Fast Retailing Co Ltd’s Uniqlo each made over 100 million yuan in sales in the first hour.

Over half of merchants on its Tmall marketplace used live streaming to sell products during the event, and sales generated through the medium surpassed 10 billion yuan at 8.55 a.m. (0055 GMT), Alibaba said.

The firm has said it expects over 500 million users to make purchases this year, about 100 million more than last year. It has also put more emphasis this year on promotions targeting areas outside of China’s massive first- and second-tier cities.

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15-11-2019, 06:15 PM.
Post: #172
RE: Alibaba

Alibaba sets retail price for Hong Kong-listed shares after overwhelming response for global tranche of US$13.9 billion secondary listing
* Alibaba Group Holding to price its retail shares at no more than HK$188 (US$24) each, according to a company statement
* The e-commerce giant will raise up to US$13.86 billion in the first secondary listing on Hong Kong’s stock exchange, in a deal that would catapult the city back to the top of global ranks as the IPO capital

Peggy Sito & Enoch Yiu  
Published: 6:53pm, 14 Nov, 2019
Updated: 9:30am, 15 Nov, 2019

Alibaba Group Holding has picked auspicious numbers for both its stock code and set the offer price for retail investors in its sale of new shares in Hong Kong, after receiving overwhelming response for the global tranche of its US$13.86 billion secondary listing.

The 12.5 million new shares in the Hong Kong retail offering will be priced at no more than HK$188 (US$24) each, the company said in an email statement on Friday. The international offering tranche of 487.5 million shares will be set by November 20 after a marketing process.

The size of the retail portion may be increased to as many as 50 million shares, subject to demand and a clawback mechanism. The final price will be set at the lower of the international offer price and HK$188, it added.

The stock’s code on the Hong Kong stock exchange is 9988, which rhymes with “prosperity forever.” The numbers eight and nine are considered auspicious in both Cantonese and Mandarin Chinese.

“During this time of ongoing change, we continue to believe that the future of Hong Kong remains bright,” Daniel Zhang, Alibaba’s executive chairman, said in a letter to investors on Friday. “We hope we can contribute, in our small way, and participate in the future of Hong Kong.”

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22-11-2019, 06:55 PM.
Post: #173
RE: Alibaba
Alibaba’s mega IPO attracts 200,000 retail applications, including one bid for HK$1.1 billion worth of shares
* The number of applications ranks among the highest in the city’s IPO history, but trails bids in MTR Corp, ICBC and LinkREIT retail offerings
* Retail investors are assured of getting one lot for every five they applied for, sources say

Enoch Yiu & Peggy Sito  
Published: 6:25pm, 22 Nov, 2019
Updated: 6:48pm, 22 Nov, 2019

Alibaba Group Holding received about 200,000 applications from investors in the retail portion of its mega stock offering in Hong Kong, including one whopping bid for HK$1.1 billion (US$140 million) worth of shares, according to sources who are familiar with the deal.

The size of the applications for the e-commerce giant’s stock ranks among the highest in the city’s retail offerings, according to exchange data. There were 184,000 retail bids in the Tracker Fund IPO in 1999 and 110,000 in mainland smartphone maker Xiaomi offering in 2018. The three highest retail applications are still held by lender Industrial and Commercial Bank of China in 2006 (969,298), MTR Corp in 2000 (600,000) and LinkREIT in 2005 (510,000).

The Hangzhou-based e-commerce giant raised HK$101.2 billion from its secondary listing plan by selling up to 575 million new shares at HK$176 each, the biggest stock offering globally this year. Ten per cent of the shares were set side for the public in Hong Kong. An initial portion of 12.5 million shares was oversubscribed by 40 times and locked up a record HK$94 billion in the banking system, people familiar with the listing said earlier this week.

Retail investors can be assured of getting one lot of shares for every five they applied for, people involved in the allocation said. About 80 per cent of applications for a minimum lot of 100 shares will be successful, they said, compared with a success rate of about 50 per cent in other popular IPOs in the city.

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13-02-2020, 09:49 PM.
Post: #174
RE: Alibaba
Alibaba beats estimates on record Singles' Day sales

Akanksha Rana, Josh Horwitz
FEBRUARY 13, 2020 / 6:55 PM

(Reuters) - China’s Alibaba Group Holding Ltd beat analysts’ estimates for quarterly results on Thursday, driven by record sales during its annual Singles’ Day shopping blitz and demand for its cloud computing business.

The e-commerce giant usually reports its highest revenue in the December quarter due to its mega “Singles’ Day” shopping bonanza in November. The company said sales during the 24-hour shopping event hit a record $38.4 billion in 2019.

Alibaba primarily generates revenue by selling advertising and promotional services to third-party merchants that list products on its e-commerce sites, Taobao and Tmall.

The company said it was supporting the fight against the coronavirus outbreak in China by ensuring supply of daily necessities and introducing relief measures for its merchants.

Alibaba affiliate Ant Financial’s MYBank unit has said it would offer 20 billion yuan ($2.86 billion) in loans to companies in China in the wake of the outbreak.

The outbreak, which originated in the city of Wuhan, has resulted in companies laying off workers, seeking cheaper funding and struggling to restart production after an extended new year holiday as supply chains remained disrupted.

The epidemic is expected to pile more pressure on China’s economy and comes as the country signed a Phase 1 deal with the United States to ease a protracted trade war that had weighed on its growth.

Sales in the company’s core commerce business jumped 38% to 141.48 billion yuan ($20.26 billion) in the third quarter ended Dec. 31, while revenue at its cloud computing unit surged 62% to 10.72 billion yuan.

Net income attributable to ordinary shareholders rose to 52.31 billion yuan from 33.05 billion yuan.

Excluding items, the company earned 18.19 yuan per American Depository Share. Analysts had expected 15.75 yuan per ADS, according to IBES data from Refinitiv.

Revenue rose about 38% to 161.46 billion yuan, beating estimates of 159.28 billion yuan.

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