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The good news is Yahoo China and Koubei.com (口碑网) are set to receive RMB 300 millions worth of additional fundings from their parent company, Alibaba group, to develop their local search engine, according to the Sina Tech.
The news was confirmed by Yahoo China Vice President Shen Jianming yesterday. Yet, a dramatic turn happened as Miss Shen Jianming told the local media that she has resigned for personal reasons and depart from the company officially. Aliuser got the news from Beijing-based China TechNews.com.
Yahoo China and Koubei.com (口碑网) joined force together again in order to develop an organizational and service-related website covering the area of Shanghai, Beijing and Guangzhou. Services on the site will include food, real estate, community services, leisure and culture, health care services, and education.
Miss Shen said her departure was attributed to the change of the company’s business approach. She was assigned to manage Koubei.com in Hangzhou, which was far away from her home town, Beijing. She submitted her resignation a month ago after a few thoughts.
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Alibaba.com (HKSE 1688) reported earnings results of RMB308.6 million for the third quarter ended September 30, 2008.
According to the press release, Alibaba.com currently has 3.1 million registered users, 393,142 storefronts and 30,345 paying members during the quarter.
Finished the quarter in an exceptionally strong financial position with third quarter recurring free cash flow of RMB410 million, and over RMB6.1 billion of cash and bank deposits on the balance sheet and no debt.
The company also announced a share repurchase program of up to HK$2 billion (approximately US$258 million) through the end of 2009. Aliuser found shares of Alibaba.com rose as high as HK$5.90 with 18.9 million shares changing hands today.
To check out a full earnings report through Alibaba’s press release.
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- What happens after Alibaba announcing 2008 interim result?
- Jack Ma: Welcome to the “Ants world”
- A better-than-expected maiden year-end result
While many investors ask what will happen to the mainland after the Olympics, we will also ask what Alibaba will focus on after it has announced its interim result last week.
To a certain extent, the remarks made by Alibaba chief executive officer David Wei and the result itself were aimed at easing concerns over where and how the China largest B2B website will be heading to:
Going forward, we expect the robust growth of our China marketplace to continue. The recent launches of a series of new products and services including ‘Winport’, ‘China TrustPass for Individuals’ and ‘Export-to-China’ will further expand our China marketplace and we are encouraged by the positive response these initiatives have received so far
Our China marketplace accounted for 34.0% of total revenue in the reporting period and surpassed 36.1% in the second quarter of 2008, a significant increase when compared to a 27.2% contribution to total revenue in the first half of 2007. This shows the growing importance of the China marketplace to our overall business development.
In line with Alibaba.com(1688) earlier slogan of “Back to Basic”, Mr Wei is steering his ship back, trying to capitalize on the foreseeable strong growth in China domestic market.
Alibaba.com (1688) reported earnings results for the second quarter and first half ended June 30, 2008.
It reported total revenue of RMB1,415.2 million in the first half of 2008, representing a 47.8% increase from the first half of 2007. The year-on-year growth was driven mainly by increases in the number of paying members of our combined marketplaces and in average spending per paying member of the China marketplace.
Alibaba.com (1688) had 368,006 paying members as of June 30, 2008, representing a 44.0% increase from the same period a year ago.
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Interim Results 2008 |
|
|
Total Revenue |
RMB 1415.2million |
|
Revenue from China marketplace |
RMB 481.6 million |
|
Operating Profit |
RMB 65.1 million |
|
Net Income |
RMB 697.2 million |
|
Earning per share (EPS), basic and diluted |
15.24 and 15.23 HK cents |
|
Registered Users |
|
|
Total no. of registered users on our marketplaces |
32.5 million |
|
No. registered users on international marketplace |
5.6 million |
|
No. registered users on China marketplace |
26.9 million |
|
Store Fronts |
|
|
Total supplier storefronts on our marketplaces |
3.7 million |
|
Supplier storefronts on international marketplace |
802,286 |
|
Supplier storefronts on China marketplace |
2,968,328 |
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Paying Members |
|
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Total no. of paying member |
368,006 |
|
Gold Supplier |
29,766 |
|
International Trust Pass |
13,912 |
|
ChinaTrustPass |
324,328 |
You can find a full report of the interim result here
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photo courtesty of DreamWorks SKG
Jack Ma, Chairman and Non-Executive Director of Alibaba.com made a forecast that the world economy situation would be as bleak as that in 2001, 2002 where the dot-com bubble have taken place. He warned that the “winter” would probably last as long as three years.
Yet, He still pledged his support to China exporters, manufacturers and suppliers in the wake of gloomy economic sentiment. He suggested that SME in China should behave and work like “ants” which managed to survive much longer than such mammals as lions and elephants through all these years.
“Our Winport project launched two days ago will charge as little fee as we can, we have been thinking to offer the services for free.” Mr Ma said in a recent interview with China Alibaba.com ( The interview was done in Mandarin though).
Alibaba raise investors’ eyebrows by reporting a strong net profit of 300.7 million yuan for the first quarter of 2008 on May 5th, a leap of 111. 7 percent year-on-year and 162 percent quarter-on-quarter, excluding the one-off interest income received from over-subscriptions during IPO in the fourth quarter of 2007. Find out the Full report here
Investors’ sentiments undoubtedly are still haunted by the painstaking experiences earned from the previous internet bubble burst, coupled with the emerging economic dark cloud in the United States, rising RMS value, escalating energy and food prices. Alibaba (1688.HK) closed at HK$14.14 per share last Friday.
Alibaba.com Limited (HKSE:1688) announced her maiden financial results for the year ended Decemeber 31, 2007:
|
Financial Results 2007 |
|
| Total revenue | RMB2,162.8 million |
| Revenue from international marketplace (71.6% of total revenue) | RMB1,547.7 million |
| Revenue from China marketplace (28.4% of total revenue) | RMB615.1 million |
| Profit (attributable to equity owner) | RMB967.8 million |
| Earnings per share | 20.41 Hong Kong cents |
|
Registered Users |
|
| Total no. of registered users on our marketplaces | 27.6 million |
| No. registered users on international marketplace | 4.4 million |
| No. registered users on China marketplace | 23.2 million |
| Geographic coverage | 200+ countries & regions |
|
Storefronts |
|
| Total supplier storefronts on our marketplaces | 3.0 million |
| Supplier storefronts on international marketplace | 697,563 |
| Supplier storefronts on China marketplace | 2,259,283 |
|
Regional markets |
|
| United States | 18.0% |
| European Union (excluding UK) | 9.1% |
| India | 8.4% |
| China | 6.7% |
| United Kindgom | 6.1% |
| Canada | 2.8% |
| Other (we can not break this down further) | 48.9% |
You can find out more details with full operating data here.
