Daniel Zhang on Alibaba Group September 2020 Quarter Earnings - Pets Career House

Daniel Zhang on Alibaba Group September 2020 Quarter Earnings

Earlier Thursday, Alibaba announced earnings for the quarter ended Sept. 30, 2020. After announcing earnings, Alibaba Group Chairman & CEO Daniel Zhang addressed analysts on a call. Below are his comments.

Alibaba has delivered another strong quarter, thanks to digital adoption accelerated by COVID and the rapid economic recovery in China following its effective control of the pandemic. According to the National Bureau of Statistics, China’s economy continued to recover in the September quarter, with GDP growth reaching 4.9% year-over-year and retail sales resuming positive growth year-over-year. Digitalization is now universally recognized as the way forward in the post-pandemic world. And as I shared during Investor Day, Alibaba is best positioned to enable everyone to capture the opportunity of digitalization.

Our China retail marketplaces continued its healthy growth this quarter. Annual active consumers on our China retail marketplaces reached 757 million for the 12 months ended September 30, 2020, representing a quarterly net increase of 15 million, while our Mobile MAUs reached 881 million. These reflect Taobao’s continuing strong consumer mindshare, healthy user stickiness and engaging user experience as a leading consumer community globally. Tmall online physical goods GMV, excluding unpaid orders, grew 21% year-over-year this quarter.

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