Alibaba Plans Unit IPOs After Sales Disappoint in Shaky Economy

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Alibaba Plans Unit IPOs After Sales Disappoint in Shaky Economy

Bloomberg2023-05-18

It will begin exploring listings of logistics and grocery armsAlso formally approved spinoff of its cloud services divisionThe Alibaba Group Holding Ltd. offices in Beijing. Source: BloombergAlibaba ...

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买菜也要用券
·2023-05-18
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SPOT_ON
·2023-05-18
Rocket
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Source: BloombergAlibaba ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2023-05-18/alibaba-sales-growth-disappoints-with-chinese-rebound-uncertain?srnd=technology-vp\">Source Link</a>\n\n</div>\n","source":"lsy1584095487587","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba Plans Unit IPOs After Sales Disappoint in Shaky Economy</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAlibaba Plans Unit IPOs After Sales Disappoint in Shaky Economy\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-05-18 19:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2023-05-18/alibaba-sales-growth-disappoints-with-chinese-rebound-uncertain?srnd=technology-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It will begin exploring listings of logistics and grocery armsAlso formally approved spinoff of its cloud services divisionThe Alibaba Group Holding Ltd. offices in Beijing. Source: BloombergAlibaba ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2023-05-18/alibaba-sales-growth-disappoints-with-chinese-rebound-uncertain?srnd=technology-vp\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"09988","symbol_name":"阿里巴巴-W","start_time":0,"source_url":"https://www.bloomberg.com/news/articles/2023-05-18/alibaba-sales-growth-disappoints-with-chinese-rebound-uncertain?srnd=technology-vp","article_id":"1168666281","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1168666281","pubTimestamp":1684410300,"sourceInfo":{"source_id":"lsy1584095487587","name":"Bloomberg"},"weMediaInfo":null,"summary":"It will begin exploring listings of logistics and grocery armsAlso formally approved spinoff of its ","collect":0,"end_time":0,"defaultTopTitle":"bloomberg.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"09988":"阿里巴巴-W","BABA":"阿里巴巴"},"translate_title":"阿里巴巴-SW计划在不稳定的经济中销售令人失望后进行首次公开募股","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"09988":0.9,"BABA":0.9},"content_text":"It will begin exploring listings of logistics and grocery armsAlso formally approved spinoff of its cloud services divisionThe Alibaba Group Holding Ltd. offices in Beijing. Source: BloombergAlibaba Group Holding Ltd. will begin exploring initial public offerings for its logistics and grocery arms, kicking off a long-awaited breakup that may help reverse anemic growth at China’s cloud and online commerce leader.Alibaba on Thursday again posted single-digit revenue growth, reinforcing concerns that a Chinese consumer spending rebound may be farther out than anticipated. It also announced formal approval to spin off its cloud services division by distributing stock to shareholders, and to explore IPOs for its Cainiao logistics arm and Freshippo grocery chain. The company also plans to secure external financing for its international commerce division, which encompasses overseas operations such as Singapore-based Lazada.As China’s largest e-commerce company, Alibaba remains a barometer for consumer demand in the country. Its domestic commerce shrank 3%, while the cloud division, the other closely watched business, was down 2%. That lackluster showing underscores how China may be recovering from years of Covid Zero restrictions at a slower pace than projected, hampered by US sanctions on China and an uncertain global economic environment. Hopes that Beijing would support private enterprise this year after a blistering crackdown on the internet sector haven’t translated into meaningful policy so far.It reported sales of 208.2 billion yuan for the March quarter, versus an average analyst estimate for 209.2 billion yuan. Net income was 23.5 billion yuan, reversing losses a year ago thanks to once-off gains. Alibaba’s stock stood largely unchanged in pre-market New York trading. Investors had bet that consumer spending and the tech sector would rebound after Beijing lifted years of sweeping restrictions that hobbled the world’s No. 2 economy. But economists point to slowing trade and other signs the nascent recovery is losing steam. During the recent Golden Week holiday, an important indicator of broader sentiment, overall spending lagged behind booking volumes.Beyond fundamental trends, some investors harbor hopes that the spinoffs might galvanize the market, enable the different operations to move more nimbly and fuel a share rebound. In March, Alibaba made the historic decision to split itself into six units covering its main businesses from cloud services to international commerce and logistics. Each unit, except for the core Taobao Tmall Commerce Group, can seek fundraising and listings.Despite overall malaise, there’re hints online commerce is at least rounding a corner.Gross merchandise value growth in China’s e-commerce industry accelerated to 11% in March after slowing to 5% in the first two months of 2023, according to estimates by Goldman Sachs Group Inc., which cited recovering demand and easing logistics disruptions. Last week, JD.com Inc. said volume growth this quarter was outpacing the previous three months, helping prop up its stock.Tencent Holdings Ltd. grew revenue at its fastest pace since 2021, while Baidu Inc. also posted sales beyond estimates. Both credited a recovery in segments of domestic consumption. Michael Burry, the money manager made famous in The Big Short, boosted his bullish bets on JD and Alibaba even as other hedge funds cooled on the nation’s reopening trades. What Bloomberg Intelligence SaysThis would have been led by stronger year-over-year earnings for the China commerce unit (Taobao Tmall) as the firm improved operating efficiency by streamlining functions within platforms on the mainland. In comparison, rival JD.com’s retail profitability gains for the same period likely shrank sequentially as the firm spent more to retain merchants and entice users to spend more. Alibaba could narrow international commerce (global digital) losses into 2024 even as consensus expects a wider deficit from the prior year if the firm aims to list this unit. This can help tame the drag on Alibaba’s overall margin from hikes in cloud intelligence costs this year.- Catherine Lim and Trini Tan, analystsFor now, Alibaba is pushing aggressive cost-cuts to shore up margins and offset anemic domestic growth — a sea-change for a tech deal-maker that once spent aggressively to dominate wide swaths of the economy. The crackdown on online commerce by the Xi Jinping administration has also forced Alibaba to alter a business model that once pursued merchant exclusivity.That bottom-line focus is taking on urgency because of fierce competition in its home market from JD, PDD Holdings Inc. and up-and-comers such as ByteDance Ltd., which have stepped efforts to lure customers and woo merchants.Overseas, the tech giant is curtailing its global ambitions. Alibaba sold off the last of its shares in Indian fintech giant Paytm this month, accelerating a withdrawal from the world’s fastest-growing mobile and internet arena.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9970659225,"gmtCreate":1684412674267,"gmtModify":1684412677429,"author":{"id":"4145625240718392","authorId":"4145625240718392","authorIdStr":"4145625240718392","name":"买菜也要用券","avatar":"https://community-static.tradeup.com/news/8b96cec22e65ced89fd36d87919b0b23","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"4145625240718392"},"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9970659225","repostId":1168666281,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9970659850,"gmtCreate":1684412136070,"gmtModify":1684412141021,"author":{"id":"3582922989777578","authorId":"3582922989777578","authorIdStr":"3582922989777578","name":"SPOT_ON","avatar":"https://static.tigerbbs.com/080f029371339d9db26930961de6adb1","vip":1,"hat":"https://static.tigerbbs.com/a3dee1aa3a3a3c1814833a4d3f8a5669","crmLevel":4,"crmLevelSwitch":1,"idStr":"3582922989777578"},"htmlText":"Rocket","listText":"Rocket","text":"Rocket","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9970659850","repostId":1168666281,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":2,"commentSize":2,"repostSize":2,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}