Alibaba Reports 102 Million New E-Commerce Users From Town, Country
Tang Shihua
DATE:  May 16 2019
/ SOURCE:  yicai
Alibaba Reports 102 Million New E-Commerce Users From Town, Country Alibaba Reports 102 Million New E-Commerce Users From Town, Country

(Yicai Global) May 16 -- The business of Chinese e-commerce giant Alibaba Group Holding held to its strong upward trend during the fiscal year 2019 ending March 31. 

The tally of annual active consumers on its China retail marketplaces reached 654 million in a 102 million rise on the year before, with 77 percent of new users from third- and fourth-tier cities and rural areas, the latest financial report released by the Hangzhou-based firm yesterday evening shows.

Its shares [NYSE:BABA] climbed yesterday, closing 1.58 percent up at USD177.60 on the news.

Mobile monthly active users of Alibaba's China retail marketplaces reached 721 million in March, up 22 million over December and 104 million from March last year.

The company's business income grew 51 percent annually to about CNY93.5 billion (USD13.9 billion) in the fourth quarter, while its net profit climbed 252 percent annually to CNY23.4 billion. Alibaba's revenue throughout fiscal year 2019 was CNY377 billion, up 51 percent, while its net profit swelled 31 percent to CNY80 billion, per the report.

Alibaba's cloud computing revenue grew 76 percent per year to CNY7.7 billion (USD1.2 billion) in the first quarter, mainly from increased average per-customer spending. 

Alicloud's business revenue reached CNY24.7 billion in the fiscal year 2019, up 20 times from the figure for 2015 when this income was made public for the first time.

The number of global users of Alipay, which is owned by the company's fin-tech arm Ant Financial Services and its partners, have already passed one billion in this fiscal year, 

Over 70 percent of Alipay users also utilize more than three kinds of added-on services on the app, such as ride-hailing or hospital booking, the report also noted.
Editor: Ben Armour

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Keywords:   E-commerce,Cloud Computing,Fintech,Alipay,Alibaba