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Article: ALIBABA.COM MAINTAINS STABLE GROWTH AMID ECONOMIC DOWNTURN

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AsiaInfo Services
Article date:
March 20, 2009
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AsiaInfo Services
03-20-2009
alibaba.com+ltd[(albcf)]

Alibaba.com Maintains Stable Growth amid Economic Downturn

BEIJING, Mar 20, 2009 (SinoCast Daily Business Beat via COMTEX) -- Alibaba.com Limited (SEHK: 1688), a business-to-business (B2B) platform operator in China, gave a shining performance in 2008, as small- and medium-sized companies (SMEs) flocked to e-commerce amid the industry recession.

On March 19, 2009, the Hangzhou-headquartered e-commerce giant released its financial results for 2008, saying net profits soared 95% from the previous year to CNY 1.205 billion.

Total revenue rose 39% year on year to CNY 3.001 billion.

A flock of SMEs turned to e-commerce in face of the global ...

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