Alibaba Group

Alibaba Group Holding Ltd. announced Tuesday it's going to sell Chinese department-store chain Intime to a local apparel group for $1 billion. The price is around 30% of the company's valuation

Ma, China's best-known tech entrepreneur, publicly criticized Chinese regulators in a speech in October 2020, derailing a massive listing by Ant Group. That was followed by regulatory crackdowns

Alibaba split into six business units in 2023, in the biggest revamp of its 24-year history

The deal is the first time the company has tapped the dollar bond market since 2021, according to data compiled by LSEG, and also the largest corporate bond in Asia Pacific this year

Expectations for sales growth for the festival, which is viewed as a gauge of consumer confidence, were subdued this year as confidence in the world's second-largest economy remains low in the wake

Alibaba is also grappling with stiff competition from rivals including JD.com and discount-focused retail platforms such as PDD Holdings' Pinduoduo and ByteDance-owned Douyin

The partnership also illustrates the growing focus of the high end luxury brands on improving online shopping

It was quickly followed by Baidu, which hours later announced that its Ernie Speed and Ernie Lite models would be free for all business users

Ma, who's still revered by many of the company's 200,000-plus employees, struck a markedly more upbeat tone than just four months ago

Alibaba is trying to stage a comeback after years of government punishment and strategic missteps that cost the e-commerce operator its place as leader of the country's tech industry

Chinese e-commerce firm Alibaba Group Holding on Wednesday approved an additional USD 25 billion authorisation to its share buyback programme, after reporting lower-than-expected sales revenue for the last quarter of 2023. The company's Hong Kong-traded shares plunged 6.8 per cent on Thursday. Alibaba's New York-listed stock price sank 5.9 per cent on Wednesday and has fallen nearly 26 per cent over the past year. Alibaba posted a 5 per cent increase in sales to 260.3 billion yuan (USD 36.67 billion) in the quarter that ended in December, slightly missing analysts' estimates. Net income sank to 14.4 billion yuan (USD 2 billion), down 77 per cent compared to a year earlier. The Hangzhou, China-based firm attributed the drastic decrease to declining values of its equity investments and falling revenues. Alibaba has struggled to sustain its growth and faces increasing competition in the e-commerce sector from rivals such as Pinduoduo and ByteDance, which operates TikTok and Douyin. On

Alibaba is under pressure as consumers in China, have been cutting spending, boosting rival lower-cost domestic e-commerce players such as PDD Holdings

Alibaba announced a plan in March to split into six units and explore fundraisings or listings for most of them. It has since filed a Hong Kong listing application for the logistics arm Cainiao in Sep

Alibaba slid as much as 1.4 per cent in Hong Kong, putting its market value at about HK$1.46 trillion ($187 billion) and on track to close below US-listed PDD Holdings Inc.'s $188.3 billion

Ma, who has mostly stayed away from day-to-day operations since 2020, stunned employees Wednesday by replying to a staff post on Alibaba's internal forum

Berkshire's exit comes after a string of selldowns for the firm, including stake cuts by Japanese conglomerate SoftBank Group and the exit of China's Alibaba Group

Ma has not sold a single share in Alibaba, as the stock price has not reached the level the billionaire was seeking

Bailing will be applied to Ant's various services and help with innovation, Xu Peng, vice president of Ant Group said in a statement on Monday

In the months since, the company has approved a process to start external financing for its international commerce arm and was also looking to list its cloud unit

This year, Alibaba enlisted two co-founders to replace Daniel Zhang at the helm and oversee a complicated six-way split of its main businesses from the cloud to local and global e-commerce