Alibaba Group Holding‘s online shopping app Taobao has made its one-hour delivery service hotkey on the platform’s homepage, as the tech giant tries to stake out a larger position in the on-demand delivery market amid competition with JD.com and ByteDance‘s Douyin. The 4-year-old service now has its own tab accessible from the Taobao homepage as […]
China’s e-commerce giant JD.com is said to be doubling down on its budget shopping platform Jingxi in its latest move to win consumers in the “sink” market, made up mostly of small towns where shoppers have limited spending power, amid fierce competition with rivals such as PDD Holdings. Borrowing a page from PDD’s playbook, JD.com […]
Like many China-based companies, JD.com (NASDAQ: JD) has had a challenging time over the last few years. Geopolitical tension between the U.S. and China, the Chinese government’s crackdown on its tech sector, and the economic impact of COVID-19 are only some of the issues that Chinese tech stocks have faced. But those willing to think […]
Alibaba Group Holding and JD.com touted impressive growth trends but declined to reveal total gross merchandise value (GMV) figures for their midyear 618 shopping festival events, as China’s major e-commerce players remain locked in a heated battle to get consumers to open their wallets amid the country’s economic slowdown. Both e-commerce giants declared victory as […]
(Bloomberg) — Alibaba Group Holding Ltd. is considering selling convertible bonds to raise about $5 billion, people familiar with the matter said, following a $1.75 billion offering by rival Chinese online retailer JD.com Inc. this week. Most Read from Bloomberg Alibaba has spoken with investment banks about selling bonds that can be converted into US-listed […]
Shares of Chinese stocks, including Tencent (OTC: TCEHY), PDD Holdings (NASDAQ: PDD), and JD.com (NASDAQ: JD), rallied to start the week, up 5.4%, 9.5%, and 5.8%, respectively, as of 3:50 p.m. ET Monday. The synchronous rise in Chinese stocks followed a favorable regulatory development for private Chinese companies and stocks. In addition, Tencent announced the […]
Chinese stocks fell again today as negative economic news weighed on the sector. This time, China’s exports fell more than expected in March, hammering hopes for a recovery in the world’s No. 2 economy. Exports are a significant part of the Chinese economy, accounting for roughly 19% of its overall gross domestic product (GDP). They […]
Shares of Chinese stocks were rallying today after an annual parliamentary meeting came to a close and China posted some promising economic data. Beijing also announced another round of support for the economy, which investors hope will revive struggling Chinese stocks. Investors seemed encouraged by an improvement in the consumer price index, which was up […]
Shares of JD.com (NASDAQ: JD) were moving higher today after the Chinese e-commerce company delivered better-than-expected results in its fourth-quarter earnings report. The quarter showed that JD is still struggling in an increasingly competitive environment where the Chinese consumer is weak, but its revenue growth accelerated modestly from the third quarter, and some of its […]
(Bloomberg) — JD.com Inc. initiated a $3 billion stock repurchase program and reported a better-than-expected 3.6% rise in revenue, helped by a broader product lineup and price cuts to target cost-conscious Chinese consumers. Most Read from Bloomberg The online retailer reported sales of 306.1 billion yuan ($42.6 billion) from October to December, versus the average […]
(Bloomberg) — Chinese e-commerce operator JD.com Inc. is the latest company to consider buying UK electronics retailer Currys Plc, as a path to toward new avenues for growth away from home. Most Read from Bloomberg JD.com “is in the very preliminary stages of evaluating a possible transaction that may include a cash offer for the […]
Chinese stocks were surging broadly today on signs that Beijing was taking steps to support the stock market following a brutal decline over the last three years. This morning, reports that China’s sovereign wealth fund would pump cash into the stock market had investors feeling suddenly bullish about Chinese stocks. China’s own stock market indexes […]