by Amruth Sundarkumar | Jul 26, 2022 | China, Corporates
Alibaba is seeking to upgrade its secondary listing on Hong Kong’s stock exchange to a primary listing, which will give it direct access to a wider pool of mainland Chinese investors. Additionally, this move will allow the Chinese e-commerce giant to seek inclusion in...
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 | 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...
by Amruth Sundarkumar | Nov 18, 2021 | China, Distressed / Defaulted Bonds
A consortium led by Alibaba Group that includes funds backed by the Zhejiang government, has emerged as the frontrunner to take over troubled chipmaker Tsinghua Unigroup for a possible RMB 50bn ($7.8bn) deal. Sources say that the government is leaning towards the...
