Alibaba Reports Slowest Quarterly Revenue Growth on Record
Alibaba reported its slowest quarterly revenue growth since its IPO in 2014. Revenues rose 10% YoY to $38bn and net income fell 75% to $3bn, which the company said was primarily due to the impairment of goodwill of $3.9bn. Revenues in its China commerce business rose...
Fresh Worries Emerge over Chinese Tech Clampdown with Alibaba in Focus
Concerns over a new wave of regulatory crackdowns across China’s tech sector have taken over investor sentiment. Bloomberg had reported that Chinese authorities were said to have told state-owned firms and banks to begin a fresh round of checks on Alibaba...
Tsinghua Unigroup Gets State-Backed Investors in $9.4bn Restructuring Plan; Alibaba Out
Troubled Chinese chipmaker Tsinghua Unigroup will see a consortium led by Beijing Jianguang Asset Management and Wise Road Capital becoming its strategic investors pending court approval in a proposed RMB 60bn ($9.4bn) restructuring plan. The deal would culminate a...
