by Amruth Sundarkumar | Mar 22, 2022 | China, Corporates
Chinese e-commerce giant Alibaba has increased its share buyback program to $25bn, which will be conducted till March 2024. Alibaba’s share buyback program is its largest till date and tops its $15bn buyback program in August 2021. Last week, China announced its...
by Amruth Sundarkumar | Feb 25, 2022 | China, Corporates
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...
by Amruth Sundarkumar | Feb 23, 2022 | China, Corporates
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...
by Amruth Sundarkumar | Dec 14, 2021 | China, Distressed / Defaulted Bonds
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...
by Amruth Sundarkumar | Nov 19, 2021 | China, Corporates
Alibaba slashed its 2022 forecast for fiscal revenue growth from the 27% projected by analysts to 20-23%, following sales that missed estimates for a second straight quarter. Alibaba reported a 29% rise in revenue for 3Q2021 to RMB 200.7bn ($31.4bn) lagging estimates...
