China's Online Shopping Major Alibaba Announced its Financial Results for the Second Quarter of 2021. Net income decreased 5% from the Same Period of the Previous Year
On August 3, China's online shopping major Alibaba Group announced its financial results for the second quarter of 2021. Sales increased 34% from the same period of the previous year to 205,740 million yuan (approximately 3,474.6 billion yen). Net income decreased by 5% from the same period of the previous year to 45,140 million yuan (about 762.3 billion yen). The deficit in the first quarter (7.6 billion yuan, about 130.1 billion yen) turned into the black. One of the factors behind the decline in profits is the impact of increased investment in strategic areas such as community commerce and the affiliated online shopping platform "Lazada." The main highlights are the 618 sales season held during the period and the expansion of reach in rural areas. In the 618 sales season, 250,000 stores and brands participated, and more than 1 million new products were sold. This is an opportunity for many brands to acquire new brand members, which enables them to communicate directly with consumers who have become brand members. Additionally, in promoting the expansion of consumer reach in rural areas, which is one of the areas of focus, they strengthened new retail efforts and promoted services such as one-hour delivery, half-day delivery, and next-day delivery through community commerce.
Sources: The Company's Financial Results Announcement Material"Alibaba Group Announces June Quarter 2021 Results" （August 03, 2021）
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