Alibaba profits plunge as Beijing's bans – and beefy competitors – bite

Beijing's tech regulation blitz has bitten Alibaba on the bottom line, as the tech giant reported net profit has sunk cut and lowered revenue guidance for the year. The bad news came as the company announced its Q2 results, at the same time as CEO Daniel Zhang told investors to expect revenue growth of merely 22 or 23 per cent …

[steviebuk]

Winnie the Pooh

Due to the man that made calling him Winnie the Pooh illegal. Why not own it, everyone liked Winnie the Pooh, they don't much like Xi.

The CCP are ruining China, he is becoming the next Mao.

[Pascal Monett]

Re: Winnie the Pooh

The CCP has always been ruining China.

First they did it by murdering anyone capable of critical thinking, removing vast amounts of experienced people in a horribly brutal fashion.

Then they did it with pie-in-the-sky economic rules that starved millions, to the point where they had to actually re-allow personal vegetable fields to avoid emptying the country completely.

What's happening now is a stroll in the park compared to what has already happened.

[Pascal Monett]

"we remain confident in development of China consumption"

And that is the great strength of China, which has an interior market that dwarfs that of three continents on its own.

India is the only other country with a comparable population and, therefor, market size.

And the OHSG has pushed China to become technically independant with his hare-brained idiotic schemes.

The dragon has woken, and it is stirring. We will feel its bite sooner rather than later.

[Anonymous Coward]

Re: "we remain confident in development of China consumption"

It will die of choking as it bites its own tail.

[elsergiovolador]

Translation

One government department pulls money to another.

They use Western terms like "company", to look palatable to the western eye, but reality is that it is just infighting of party apparatchiks.

You can gold wrap a turd to make it look nice and you'll still get punters for all that thin layer of gold. They don't mind, because they are full of sh themselves.