Shulou(Shulou.com)11/24 Report--

CTOnews.com October 20 news, this morning, Hong Kong stocks opened. Alibaba opened down 5.09% at HK $69 per share, an all-time low. At 69 Hong Kong dollars per share, Alibaba's total market capitalization of Hong Kong shares is 1.4614 trillion Hong Kong dollars (about 1.34 trillion yuan).

In August this year, Alibaba Group announced that it had applied to the Hong Kong Stock Exchange for a dual major listing in Hong Kong and New York, which was confirmed by the Hong Kong Stock Exchange. According to the announcement, on August 8, the Hong Kong Stock Exchange confirmed Alibaba's application for major listing in Hong Kong in accordance with the listing status change guide, which is expected to take effect before the end of 2022.

CTOnews.com learned that Alibaba's data show that the company's public liquidity on the Hong Kong Stock Exchange has increased significantly since its secondary listing in Hong Kong in November 2019. For the six months ended June 30, 2022, the average daily trading volume of the company's shares in the Hong Kong market was approximately US $700 million (approximately RMB 4.725 billion), and the average daily trading volume of the company's shares in the US market was approximately US $3.2 billion (approximately RMB 21.6 billion).

According to the financial report, Alibaba's revenue in the first quarter of 2023 was 205.56 billion yuan, down 1% from the same period last year, while the adjusted net profit was 30.25 billion yuan, down 30% from the same period last year. It should be noted that Alibaba's fiscal year is out of sync with the natural year, starting from April 1 of each year.

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