Alibaba, the Chinese e-commerce and media group, unveiled a top to bottom corporate restructuring that it says is intended to “unlock shareholder value and foster market competitiveness.” The grou…
, the Chinese e-commerce and media group, unveiled a top to bottom corporate restructuring that it says is intended to “unlock shareholder value and foster market competitiveness.”
At present Alibaba has its shares and ADR shares listed in Hong Kong and New York. Some parts of its media business also have their own Hong Kong share listing Alibaba Pictures. “This transformation will empower all our businesses to become more agile, enhance decision-making, and enable faster responses to market changes,” said Alibaba CEO Daniel Zhang in a letter to employees and shareholders.
In the nine months to December 2022, Digital Media and Entertainment had revenue of RMB23.2 billion , a 4% year-on-year decline, and recorded EBITDA losses of RMB772 million – a marked improvement.
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