China’s Alibaba Group Holding Ltd. forecast annual revenue to grow at its slowest pace since its 2014 stock market debut as second-quarter results missed expectations due to slowing consumption, increasing competition, and a regulatory clampdown. U.S.-listed shares of Alibaba, which expects its fiscal year 2022 revenue to grow by 20 percent to 23 percent, were down 3 percent before the opening bell on Thursday. The company last week recorded its slowest sales growth during its annual Singles’ Day, the world’s biggest online shopping fest. Once a major media event, the company downplayed its sales tallies and instead highlighted its efforts to improve social welfare and the environment. China’s big tech companies have also been under pressure as the country’s regulators clampdown on powerful players from Alibaba to ride-hailing company Didi Global Inc., citing antimonopoly and security reasons. The clampdowns have also hurt Chinese gaming and social media company Tencent Holdings, …
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