The Digital Source For China's Tech Innovation Since 2000

Search
Close

Alibaba's E-commerce Profit Drops In China

August 17, 2009
Business | Internet

Chinese B2B e-commerce company Alibaba has published its performance report for the first half of 2009 ended June 30.

According to the report, the company made total revenue of CNY1.715 billion during the first half of the year, an increase of 21% compared with the same period of 2008, but its net profit decreased from CNY697 million in the first half of 2008 to CNY514 million, a year-on-year decrease of 26.3%. Its operating profit also decreased from CNY651 million to CNY564 million, a year-on-year decrease of 13%.

By June 30, 2009, the company had had 42.78 million registered users, increasing 31.5% over the previous year. Of the total, the number of corporate users was 5.5 million, a year-on-year increase of 46.1%, and the number of paid members was 530,000, a year-on-year increase of 44.4%.

Alibaba revealed in the report that it will implement a special dividend with total value of HKD1.01 billion, which equals about CNY880 million, to return the support of shareholders.

With regards to Alibaba's future strategy, David Wei, CEO of Alibaba, said that the company will continue to promote its loan scheme to aid the financing of small and medium-sized enterprises. With the aim of a transition from "meet at Alibaba" to "work at Alibaba", the company will establish itself as a platform that can help these SMEs with daily operations.

Tags: AIM | Alibaba | B2B | CEO | China | Chinese | David Wei | e-commerce | financial services | financing | IT | loan | net profit | online shopping | performance | platform | procurement | profit | report | revenue | SME | sourcing | strategy | Total

Other Related News:

Fujian's First Travel E-Commerce Center Goes Live

December 3, 2009

“China is Laughing at Us:” Twitter Suspends Rep. Jim Banks and Censors Marjorie Taylor Greene for Pointing Out That “The First-Ever Female 4 Star Admiral,” Rachel Levine, is a MAN

October 24, 2021

Overview of 3D AR Edutainment Apps Market 2021 The Lower Cost and Giant Consumer Base Are Some of the Key Reasons Permitting China to Dominate the Asian Market – Press Release

September 5, 2021

The US Should do The Opposite of China on Crypto: a16z Partner

October 1, 2021

Rumor: China Mobile May Acquire Telenor's Pakistani Subsidiary

July 23, 2009

China bans crypto, Marvel film ‘Shang-Chi’ and ‘effeminate men.’ This is what they share.

September 26, 2021

Global Quick Service Restaurant (QSR) IT Market SWOT Analysis, By Top Vendor- NCR Corporation Verifone Systems Inc Cognizant PAR Technology Corporation NEC Display Solutions of America, Inc. LG Panasonic Corporation Oracle Corporation Delphi Display Systems, Inc HM Electronics, Inc. Revel Systems PAX Technology SZZT Electronics Shenzhen Xinguodu

October 23, 2021

Chinese hackers Deep Panda return with Log4Shell exploits, new Fire Chili rootkit Malware News Malware Analysis, News and Indicators

April 1, 2022

Why data centres, 5G networks are at the forefront of climate-change fight in China

December 27, 2021
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
Menu
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
© 2022 ChinaTechNews.com. A Service of Asia Media Network.
Twitter
Posting....