According to reports, Alibaba released its financial report for the second quarter of 2023. During this period, the company realized a net profit of 34.332 billion yuan, an increase of 51% compared with the same period last year.
This figure not only reflects the growth of Alibaba, but also shows that e-commerce is becoming more and more important in life. Alibaba’s turnover in the same quarter was 234.156 billion yuan, a year-on-year increase of 14%.
Its retail business in China (accounting for 49% of its turnover) was driven by Taobao and Tmall portals, and its revenue increased by 12%, consolidating its position in the local market. In addition, the business of the international business department represented by AliExpress in Spain also achieved an amazing growth of 41% in the first quarter.
Zhang Chaoyang, Chairman and CEO of Alibaba Group, expressed full confidence in the company’s current development direction and how to release “new energy” in its operation. Hong Xu, chief financial officer of Ali Group, pointed out that strong cash flow and healthy balance sheet enhanced the company’s ability to meet future challenges and seize new opportunities.
It is reported that Alibaba adjusted its management structure in the quarter ending June 30, 2023. Under the new structure, Ali has been transformed into a holding company, consisting of six core business groups and several other businesses.
The six business groups under the new structure are:
1. Taobao Tmall business: including Taobao, Tmall, idle fish, 1688.com, etc.
2. Alibaba’s international digital trading business: it focuses on international digital trading business, and its brands include Lazada, AliExpress, Trendyol and Alibaba.com.
3. Local city service: including Hungry and Gaode map.
4. Cainiao Intelligent Logistics Network Co., Ltd.: Focus on intelligent logistics solutions and distribution services.
5. Cloud intelligent business: covering cloud services and cloud technologies, including Alibaba Cloud and conference software nailing.
6. Entertainment and digital media services: including platforms such as Youku, barley net and Alibaba Pictures.
In addition to the above six business groups, the company also manages other businesses, such as Gaoxin Retail, Box Horse Fresh Food, Ali Health, Linxi Entertainment, Yintai Group, Intelligent Information Platform (including UC Browser and Quark Browser), Flying Pig and so on.
Post time: Aug-17-2023