Alibaba Group Holding Limited American Depositary Shares, each represents eight Ordinary Shares - BABA STOCK NEWS

Alibaba Group Holding Limited (NYSE: BABA) reported stable revenue of RMB205,555 million (US$30,689 million) for the quarter ending June 30, 2022, unchanged from the previous year. The China commerce segment saw a slight decline of 1% in revenue, while the Cloud segment grew by 10%. Net income attributable to ordinary shareholders dropped by 50% to RMB22,739 million (US$3,395 million). Despite challenges from COVID-19, losses in key strategic businesses narrowed due to improved operational efficiency and cost optimization. The company plans to diversify its investor base with a primary listing in Hong Kong.

Alibaba Group Holding Limited (NYSE: BABA) has appointed Irene Yun-Lien Lee and Albert Kong Ping Ng as independent directors to its board, effective August 4, 2022. This move aims to enhance corporate governance and diversity within the leadership. With these additions, the board will consist of twelve directors, including seven independent members and three females. CEO Daniel Zhang emphasized that the new members bring valuable insights, especially as Alibaba plans a dual-primary listing in Hong Kong to broaden its investor base.

Alibaba Group (NYSE: BABA) announced the filing of its annual report on Form 20-F for the fiscal year ended March 31, 2022. The report, which includes audited consolidated financial statements, is available on Alibaba’s investor relations website. Shareholders can request a hard copy of the report free of charge. The company continues to aim for long-term growth and infrastructure development in commerce, aligning with its mission to facilitate business globally.

Alibaba Group Holding Limited (NYSE: BABA) is set to apply for a primary listing on the Hong Kong Stock Exchange, joining its existing listing on the New York Stock Exchange. This transition aims to diversify its investor base, particularly focusing on growth from China and Asia. After its secondary listing in November 2019, Alibaba experienced increased trading volume in Hong Kong, with average daily trading of approximately US$0.7 billion in the first half of 2022.

Completion of the primary listing is anticipated before the end of 2022.

Alibaba Group Holding Limited (NYSE: BABA) will announce its unaudited financial results for the quarter ending June 30, 2022, on August 4, 2022, before U.S. market opening. A conference call to discuss these results will be held at 7:30 a.m. U.S. Eastern Time. Participants must pre-register for the call, which can be accessed via a live webcast. The earnings release and presentation materials will be available on Alibaba's Investor Relations website prior to the conference.

Apple leads the Kantar BrandZ Most Valuable Global Brands 2022 ranking with a brand value of $947.1 billion, marking a 55% increase from the previous year. Google follows in second place, rising 79% to $819.6 billion. The combined value of the top 100 brands surged by 23% to $8.7 trillion, highlighting the importance of brand strength in today's economy. Notably, Chinese brands like Tencent and Alibaba rank fifth and ninth, respectively. The report emphasizes the need for companies to invest in brand building and diversification to maintain growth amid market volatility.

Farfetch Limited (NYSE: FTCH) reported Q1 2022 results showing a 1.7% year-over-year increase in Gross Merchandise Value (GMV) to $930.8 million, and a 6.1% rise in revenue to $514.8 million. Despite challenges from macro events in China and operations ceasing in Russia, the company noted strong marketplace growth in the Americas and Middle East. Profit after tax surged to $728.8 million, aided by significant gains from fair value remeasurements. However, Adjusted EBITDA fell to $(35.8) million, reflecting a 8.2% margin decline.

Alibaba Group Holding Limited (NYSE: BABA) reported financial results for FY 2022, achieving a record RMB 8,317 billion in global GMV and 1.31 billion annual active consumers. Revenue grew 19% year-over-year to RMB 853,062 million, driven by China commerce and cloud segments. However, net income fell 59% to RMB 61,959 million, primarily from losses in equity investments. The company plans to focus on sustainable revenue growth and cost optimization amid macroeconomic challenges caused by COVID-19. Notably, Alibaba expanded its share repurchase program from $15 billion to $25 billion, effective through March 2024.

stc Group has established a new company, Alibaba Cloud, in Riyadh, Saudi Arabia, with a capital of SAR 894 million. This initiative is aimed at meeting the growing demand for cloud services in the region. In partnership with Alibaba Group and local entities, the company will provide advanced cloud solutions that enhance security for businesses in the Kingdom. This move aligns with Saudi Arabia's 2030 Vision to diversify the economy and stimulate investment in technology, contributing to job creation and the enhancement of the digital infrastructure.