Movement Alert｜Alibaba Falls 3.5% in Pre-Market Trading, Annual Profit Decline and Tech Sector Selloff Weigh on Shares

Market Focus16:09

On June 23, Alibaba fell 3.5% in pre-market trading, trading at $101.26/share, with turnover of $8.9723 million.

On the news front, Alibaba recently disclosed its annual financial report showing net profit declined 19% year-over-year to 102.127 billion yuan, while non-GAAP net profit dropped sharply by 62% to 60.658 billion yuan. The significant profit retreat was primarily attributed to reduced operating profit and sustained investment in instant retail, user experience, and technology businesses. Total revenue grew 3% year-over-year to 1.0237 trillion yuan, but the margin compression raised investor concerns.

Meanwhile, the broader Chinese internet sector faced systemic selling pressure. Hong Kong-listed Alibaba broke below the 100 HKD level, hitting its lowest since April 2025. The Hang Seng Tech Index fell over 2.4%, with JD.com down 2.64% and PDD Holdings down 2.91% in the US-listed Broadline Retail sector. The combination of disappointing earnings and sector-wide weakness formed the primary backdrop for the current decline.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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