The company’s chairman and CEO, Daniel Zhang, issued a statement announcing the long-anticipated listing last week, saying that Alibaba “missed out on Hong Kong with regret” in its 2014 listing.
“During this time of ongoing change, we continue to believe that the future of Hong Kong remains bright. We hope we can contribute, in our small way, and participate in the future of Hong Kong,” Zhang said.
Earlier this month, Alibaba Group Holding Ltd. reported a net profit of 72.54 billion yuan ($10.15 billion) in July-September.
The online retailer posted revenue of 119.02 billion yuan ($16.65 billion) in the period.
Alibaba’s founder, Jack Ma, stepped down as chairman in September. He has stayed on as a member of the Alibaba Partnership, a 36-member group with the right to nominate a majority of the company’s board of directors.
E-commerce pioneer Ma, 55, is China’s richest entrepreneur with a net worth of $39 billion, according to the Hurun Report, which tracks the country’s wealthy.
Source Article from https://www.nytimes.com/aponline/2019/11/20/business/bc-as-china-alibaba.html
Comments