AliViews: Alibaba’s CEO Daniel Zhang on Q1 Earnings and Investing For Growth - Pets Career House

AliViews: Alibaba’s CEO Daniel Zhang on Q1 Earnings and Investing For Growth

Alibaba Group on Tuesday reported earnings for the quarter ending June 30, 2021. Shortly after, Alibaba Chairman and CEO Daniel Zhang addressed investors on a conference call. Below are his comments.

We started the fiscal year with a strong quarter. Over the past 22 years, Alibaba has grown into a company encompassing consumer internet and industrial internet, with multiple engines driving our long-term growth.

In consumer business, we operated the largest consumer marketplace globally with 1.18 billion annual active consumers as of June 30, 2021. During the first fiscal quarter, our annual active consumers grew from 890 million to 912 million in China, and from 240 million to 265 million outside of China, representing quarterly net adds of 45 million in total.

At the beginning of this fiscal year, we announced the plan to invest all of our incremental profits this year into core strategic areas, such as technology innovation, support programs for merchants to lower their operating cost, user acquisition and experience enhancement, merchandising and supply chain capabilities, infrastructure development and new business initiatives. They were designed to enlarge our total addressable market, differentiate consumer and merchant value propositions from our competitors, and generate greater consumer engagement and purchase frequency.

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