BABA Forex News
Alibaba Sees $1.3 Bln Loss On Sale Of Intime Store Chain
Alibaba Group Holding Limited announced its agreement to sell Intime department store chain in China to textile and apparel company Youngor Group-led consortium in around RMB 7.4 billion or $1.0 billion deal. The online marketplace company, which currently holds 99 percent stake in Intime, expects to record losses of around RMB 9.3 billion or $1.3 billion as a result of the planned sale.
RTTNews
|
10 days ago
Alibaba, Baidu Invest In Intel-Backed Horizon Robotics' IPO
Horizon Robotics, a Chinese developer of artificial intelligence chips used in autonomous driving systems, is seeking to raise as much as HK$5.4 billion or around $696 million in its Hong Kong initial public offering. According to its listing document, Chinese majors Alibaba Group Holding Ltd. and Baidu Inc. are investing in the IPO of the firm, which is backed by tech major Intel Corp.
RTTNews
|
72 days ago
Alibaba Q4 Net Profit Plunges, Misses Estimates
e-commerce giant Alibaba Group Holdings Ltd. (BABA) reported Thursday that net income attributable to ordinary shareholders for the fourth quarter plunged to 3.27 billion Chinese yuan or $453 million from last year's 23.52 billion yuan. Earnings per ADS were 1.30 yuan or $0.18, compared to 9.00 yuan a year ago.
RTTNews
|
227 days ago
Alibaba Group Says Logistics Subsidiary Cainiao Withdraws IPO And Listing Application On HKEX
Alibaba Group Holding Ltd. (BABA) announced Tuesday that its logistics subsidiary Cainiao Smart Logistics Network Ltd. has withdrawn its initial public offering and listing application on the Hong Kong Stock Exchange.
RTTNews
|
276 days ago
Alibaba Q3 Profit Drops, To Buy Back Addl. $25 Bln Shares; Stock Down
Chinese e-commerce giant Alibaba Group Holdings Ltd. reported Wednesday sharply lower profit in its third quarter on significant charges, despite growth in revenues. Further, the company's board of directors has approved an increase of $25 billion to share repurchase program through the end of March 2027. In pre-market activity on the NYSE, the shares were losing around 4 percent.
RTTNews
|
324 days ago
Alibaba's Ant Group Gets Chinese Govt Approval To Release AI Products
Ant Group, the fintech affiliate of Chinese conglomerate Alibaba Group, has received approval from the Chinese government to offer artificial intelligence or AI products to the public, reports said. The company plans to roll out multiple products built on its own Bailing large language model or LLM, a deep learning algorithm that can perform a variety of natural language processing tasks.
RTTNews
|
417 days ago
Alibaba Stock Down As Former CEO Daniel Zhang Quits Cloud Unit
Shares of Alibaba Group Holding Ltd. dropped around 3 percent in Hong Kong trading after the Chinese e-commerce major announced the departure of Daniel Zhang, former chief executive officer, as the head of its cloud business. The move comes as the cloud business reportedly is preparing for its IPO. In a statement, the company now said that Eddie Yongming Wu, the newly appointed CEO, will succeed
RTTNews
|
473 days ago
Alibaba Q1 Results Top Estimates
Chinese e-commerce giant Alibaba Group Holdings Ltd. (BABA) reported Thursday net income for the first quarter that surged 51 percent from last year, driven revenue growth across all operating segments as well as lower costs and expenses.
RTTNews
|
505 days ago
Alibaba Group To Split Into Six Independently Managed Groups
Alibaba Group Holding Ltd. (BABA) announced Tuesday a new organizational and governance structure to empower all its businesses to become more agile, enhance decision making, enable faster responses to market changes, and promote innovation to capture opportunities in their respective markets and industries, thereby unlocking the value of Alibaba Group's various businesses.
RTTNews
|
640 days ago
Alibaba Shares Climb As Jack Ma To Give Up Control Of Fintech Giant Ant Group
Shares of e-commerce giant Alibaba Group gained in Hong Kong trading as well as in pre-market activity on the NYSE following the announcement that Jack Ma, its co-founder, and executive chairman, is giving up control of its sister concern Ant Group Co., Ltd. Ma, who also founded Ant Group, currently controls nearly 53 percent of the fintech major through his direct stake and by acting in concert
RTTNews
|
718 days ago
