Alibaba fell 6% in pre-market trading. Alibaba has always lacked traffic entry points, and the previous logic was to drive the growth of the main e-commerce business (Taobao and Tmall) through high-frequency food delivery entry points.
However, after 3 quarters of experimentation, the specific results were very poor. It's equivalent to spending 105 billion in subsidies, which only brought 125 billion in flash sales revenue growth. This quarter, net profit decreased by approximately 40 billion compared to the same period last year. The revenue of the main Taobao and Tmall platforms grew by less than 1% year-on-year, with no synergistic effect whatsoever.
Alibaba fell 6% in pre-market trading. Alibaba has always lacked traffic entry points, and the previous logic was to drive the growth of the main e-commerce business (Taobao and Tmall) through high-frequency food delivery entry points.
However, after 3 quarters of experimentation, the specific results were very poor. It's equivalent to spending 105 billion in subsidies, which only brought 125 billion in flash sales revenue growth. This quarter, net profit decreased by approximately 40 billion compared to the same period last year. The revenue of the main Taobao and Tmall platforms grew by less than 1% year-on-year, with no synergistic effect whatsoever.