Alibaba sees rate of growth unstable
By Ding Yining |
November 13, 2010, Saturday
|
Print Edition
Print Edition
ALIBABA.COM Ltd, operator of China's largest e-commerce website, has said its growth rate in the near future may be more unstable because of a possible slowdown in China's exports.
Alibaba.com, the B2C unit of Alibaba Group, targets domestic small business owners and helps them market and sell their products in the international markets.
"Increases in staffing costs, raw material costs and the yuan appreciation are intensifying, which may dampen the growth of small businesses," the company said in a statement.
The company forecast export growth will continue to moderate in the coming quarters and it will focus on upgrading and value-added services rather than just expanding its customer base rapidly.
Alibaba said its net profit jumped 55 percent year on year to 366 million yuan (US$55.4 million) in the third quarter of this year, above its previous forecast of 344.8 million yuan. Revenue grew 40 percent from a year ago to 1.45 billion yuan.
In August, Alibaba bought Auctiva, the second acquisition by the Hangzhou-based firm in the United States e-commerce market this year. In June it bought third-party software provider Vendio.
Alibaba.com, the B2C unit of Alibaba Group, targets domestic small business owners and helps them market and sell their products in the international markets.
"Increases in staffing costs, raw material costs and the yuan appreciation are intensifying, which may dampen the growth of small businesses," the company said in a statement.
The company forecast export growth will continue to moderate in the coming quarters and it will focus on upgrading and value-added services rather than just expanding its customer base rapidly.
Alibaba said its net profit jumped 55 percent year on year to 366 million yuan (US$55.4 million) in the third quarter of this year, above its previous forecast of 344.8 million yuan. Revenue grew 40 percent from a year ago to 1.45 billion yuan.
In August, Alibaba bought Auctiva, the second acquisition by the Hangzhou-based firm in the United States e-commerce market this year. In June it bought third-party software provider Vendio.
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