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Global X E-Commerce Etf Newsroom
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Alibaba Q2 conference call: Continuing to invest in e-commerce AI computing power, a huge space for new user growth with WeChat Pay cooperation.
Alibaba stated that it will continue to invest in e-commerce AI capabilities to support multiple AI products under development, in order to enhance user experience and merchant services. Following the integration with WeChat Pay, Alibaba holds an optimistic view on new user growth and plans to make medium to long-term investments in user growth and retention, considering it as a key focus for future investments. It is expected that this collaboration will significantly increase the monthly trade users of Taobao and Tmall.
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The increase in market cap of held equities, alibaba's Q2 net income surged by 63% year-on-year, with revenue growing by 5% compared to the previous year | Financial report insights.
Benefiting from the changes in private equity valuation at market cap, the reduction in investment impairment, and the improvement in the company's operation profit, the net income attributable to ordinary shareholders increased by 63% year-on-year. During this year's november 11 shopping festival-related period, Taobao and Tmall's GMV achieved strong growth, with the number of buyers reaching a historical high.
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