Analysis-With Cainiao buyback, Alibaba takes aim at rivals' overseas advance [Yahoo! Finance]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
Last alibaba group holding limited american depositary shares each representing eight ordinary share earnings: 2/13 06:45 am
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Source: Yahoo! Finance
the Chinese giant is taking competition from e-commerce rivals Shein and Temu more seriously in overseas markets, analysts said. The company on Tuesday said it has decided against listing Cainiao - a year after announcing its intention to list - citing reasons such as a "depressed" share market in Hong Kong. At the same time, it outlined further investment in Cainiao's global network to reduce delivery times to three days from five for markets including the U.S. The sprawling technology firm has returned focus to its core business against a sputtering macroeconomic backdrop at home and booming e-commerce market abroad. While it has solidified its number one rank in China, it is far from dominant overseas. "We see a lot of players in the market being very aggressive but in the future this is going to be an even bigger market and we want to participate in that," Chairman Joe Tsai told analysts during a conference call on Tuesday. Alibaba has been grappling with how to make its
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Sec Filings
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- BABA's page on the SEC website