To differenitate itself from Taobao.com, Alibaba Group has changed Taobao’s Tmall.com chinese name to 天猫. Tmall is designed
Alibaba gave a red-letter day to Hong Kong students
Alibaba (HKSE1688) took 80 business school students in Hong Kong by surprise as its Chairman and Non-Executive Director Jack Ma presents each of them 100 shares of the B2B eCommerce company.
Hangzhou-based Alibaba has it annual general meeting late last week in Hong Kong, meeting with its 300 shareholders, customers and other guests, including a selective of university students.
Alibaba Jack Ma presents company's shares to Hong Kong students
Sustained Revenue Growth but Net Profit Declined
Addressing to concerns over narrowing margins since it lowered its membership fees for exporters by 60 percent in 2008, Alibaba announced last Tuesday to raise the fee for international members five-fold, effective June 15, in return for an upgraded package of services, according to Reuters UK report.
“Due to our voluntary investments in customers, people and technology innovation, we expect our full-year margin will be significantly lower than that of 2008,” Alibaba Chief Executive David Wei said in an accompanying statement.
Mr Wei said he expects higher revenue as a result of the investment starting next year, and significant margin improvement in 2011.
Higher Costs in exchange for New Paying Members and Market Share
Key metrics can be found in Alibaba latest report. A summary is listed as below:
- Net income fell to 253.4 million yuan from 300.7 million yuan a year earlier, representing a 16% drop
- Revenue rose 19% y-o-y to reach 806.6 million yuan from 680.1 million yuan a year earlier.
- Debt-free with 6.9 billion yuan cash flow
- Total number of paying members increased 47% y-o-y to 481,575
- Total number of registered users went up 36% y-o-y to 40 millions
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- Alibaba Jack Ma at AGM 2009_ Alirens.com
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- Alibaba David Wei at AGM 2009_Alirens.com
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- From left to right: Alibaba Joseph Tsai, David Wei, Jack Ma and Maggie Wu_alirens.com
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- Alibaba Annual General Meeting 2009 with shareholders and guests_ alirens.com
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- Alibaba Jack Ma presents company’s shares to Hong Kong students
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