Shares of Chinese e-commerce giant Alibaba (NYSE: BABA) tumbled 10 percent on July 29 after the U.S. Securities and Exchange Commission (SEC) added the firm to a list of companies that could face delisting. The U.S.-listed Chinese company is among the more than 150 companies named by the SEC that could be booted from U.S. exchanges…
Chinese Internet Giant Could Be Kicked Off US Stock Exchange After SEC Adds Firm to Delisting Watchlist
Alibaba Shares Post Worst Drop in a Month After China Data Probe Report
July 16, 2022
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SHANGHAI—Shares in Alibaba Group fell the most in a month on Friday, after the Wall Street Journal reported that the Chinese tech giant’s cloud division has been summoned by Shanghai authorities in connection with a theft of police data. An anonymous hacker had earlier this month claimed to have obtained personal information of more than…
SoftBank Suffers Record Loss in Last Fiscal Year
SoftBank Group Corp on May 12 released its performance for the 2021 fiscal year ending March 31, reporting a net loss of 1.7 trillion yen ($15.1 billion), the biggest loss in any fiscal year since its establishment in 1981. Its Vision Fund posted a net loss of 251.6 billion yen ($2.2 billion) in the Chinese…
China Arrests Ma Mou Who Outlined an ‘Interim Congress’
Analysis On May 3, Beijing revealed the investigation of a national security case involving a person with the surname Ma. The coverage immediately caused Alibaba’s stock to tumble more than 9 percent in a day, because people took it that the co-founder of Alibaba, Jack Ma, had been arrested. Chinese state outlet CCTV reported Ma…
China’s Internet Giants Conduct Massive Layoffs, CEOs or Founders Leave
Amid the authorities’ sweeping crackdown on the internet industry, Chinese tech giants are axing thousands of employees following last year’s resignation of founders or CEOs from their companies. Speaking to The Epoch Times on April 23, Shen Rongqin, a Ph.D. at the European Institute of Business Administration (INSEAD) and associate professor at York University in…
China’s Internet Giants Conduct Large Layoffs, See Exodus of Top Executives
Amid the authorities’ sweeping crackdown on the internet industry, Chinese tech giants are axing thousands of employees following last year’s resignation of founders or CEOs from their companies. Speaking to The Epoch Times on April 23, Shen Rongqin, a Ph.D. at the European Institute of Business Administration (INSEAD) and associate professor at York University in…
China’s Alibaba Tightens Grip on Southeast Asia
April 19, 2022
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News Analysis China’s biggest e-commerce provider, Alibaba Group, is extending its digital payments—and information gathering—into southeast Asia. With a planned majority ownership of the 2C2P payments network, Alibaba’s Ant Group will increase its global payments reach, particularly in Singapore, Thailand, and Malaysia. That’s a threat to America, because China’s financial services expansion in southeast Asia…
Chinese Tech Giant Alibaba Linked to Uyghur Repression in Xinjiang by Funding Facial Recognition Technology: Report
April 15, 2022
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Alibaba reportedly encroached on the human rights of China’s Muslim population by financially supporting U.S.-blacklisted artificial intelligence companies to track the ethnic minority. The e-commerce giant and its affiliated companies currently control nearly 30 percent of Chinese technology company Megvii and 7 percent of SenseTime, ESPN reported on April 14, citing recent financial documents. Known for…
Alibaba Upsizes Share Buyback by Two-Thirds to Record $25 Billion
Alibaba raised its share buyback program to $25 billion on Tuesday, the largest ever repurchase plan by the e-commerce giant, to prop up its battered shares as it fights off regulatory scrutiny and concerns about slowing growth. Alibaba shares, which have more than halved in the past year, surged on the news and closed up…
5 Chinese Companies Named by US Regulators for Potential Delisting, Triggering Stock Plunge
March 14, 2022
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Five Chinese companies have been included in a provisional list of 270 companies by the U.S. Securities and Exchange Commission (SEC) to be delisted from U.S. stock markets. If these companies fail to submit detailed audit documents supporting their financial statements within the required time frame, they will be forced out from American exchanges by…
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