Everything has grown a bit, not bad.
Alibaba, the local time of August 15th, announced the first quarter of the 2020 fiscal year (April-June 2019) Financial Report. The financial report shows that Alibaba’s revenue for the quarter was RMB 114.92 billion, a year-on-year increase of 42%. Non-GAAP net profit was 30.949 billion yuan, a year-on-year increase of 54%.
After the trading day, Alibaba stocks rose by 3%.
Because this quarter is the quarter when the acquisition is hungry and the first time after the comparison, the financial report more fully reflects the current business performance of the entire group.
Together for the hardship
Compared with peers, the statements of Jingdian, Vipshop, Alibaba and other Chinese e-commerce companies are relatively good this quarter. One important reason is that China’s VAT reform has benefited the whole industry since April, and the manufacturing industry. The applicable VAT rate was further reduced from 16% in the 2018 reform to 13%, and the retail platform benefited from it. Two days ago Jingdong Financial Reporting Conference mentioned this factor.
National Bureau of Statistics data show that the growth rate of total retail sales of consumer goods in the second quarter of 2019 rebounded, and the growth rate in June reached 9.8%, the highest level since April 2018. In addition, the total growth rate of online retail sales has also rebounded from 19% and 16% in the previous two quarters to 20%. It can be seen that although the economic environment is still in the downside range, GDP growth in the second quarter was only 6.2%, but the consumption level of Chinese consumers seems to have stabilized. In addition, Ali paid a previously agreed $250 million litigation settlement fee in this quarter. Shareholder Altaba has also processed $261 million in ADS, which can be described as a bad one.
Split down, Ali’s core e-commerce growth rate remains at a high level of 44%, second only to the major e-commerce platforms in the major e-commerce platform (to fight more will be released next week) Quarterly financial report), more than Jingdong, Vipshop, this is not easy for Taobao, Tmall 5.7 trillion yuan GMV per year.
In addition, Ali also disclosed the group’s self-operated business. The “other” in China’s retail business, which is highly correlated with self-operated business, remained in three-digit revenue growth this quarter.