Alibaba reports Q1 revenue up 7% YoY to ~$32.8B, below $33B est., and net income up 279% to ~$1.7B, partly due to its equity investment gains; BABA drops 5%+
Crypto Sentiment Shifts Cissy Zhou / Nikkei Asia : Alibaba's Q1 revenue falls short as international e-commerce falters Bill McColl / Yahoo Finance : Alibaba Misses Forecasts on Chinese Consumer Slowd...
Alibaba announces S Plan, which offers “traffic flow, operations, and logistics” support to merchants affected by Indonesia's ban of e-commerce on social media
Tracy Qu / South China Morning Post :
Alibaba and JD.com did not share 2023 GMV figures for 618, China's second largest shopping festival; the companies previously used GMV to trumpet their wins
Tracy Qu / South China Morning Post :
China issues new rules for live streamers, including requiring influencers to have relevant qualifications to discuss topics such as law, finance, and medicine
Tracy Qu / South China Morning Post :
Kuaishou reports Q1 revenue up 24% YoY to ~$3.2B, vs. ~$3.1B est., a ~$939M net loss, down 89% YoY from ~$8.7B, and 346M DAUs, up 17% YoY from 295M
Tracy Qu / South China Morning Post :
Sources: China plans to end its regulatory crackdown on the country's Big Tech companies and give internet platforms a bigger role to boost its ailing economy
Tracy Qu / South China Morning Post :
Source: Chinese social e-commerce app Xiaohongshu has raised a new funding round of $500M, led by Temasek and Tencent at a $20B valuation
Tracy Qu / South China Morning Post :
Amazon says it has closed 3,000 seller accounts backed by about 600 Chinese brands for review fraud
Tracy Qu / South China Morning Post :
ByteDance says it has suspended development of its own smartphone under Smartisan, and will fold Smartisan's R&D team into ByteDance's educational hardware unit
Tracy Qu / South China Morning Post :