In a letter to Shareholders, Daniel Zhang, Chairman and CEO of Alibaba Group thanked all who continued to help, and support them, Addressed the impact of the Cororonavirus on their global community and vowed to convert Alibaba’s resources into fuel for small and medium businesses in hopes that it will help society, the economy and Alibaba get better.
An overview of the letter
Covid-19:
Daniel addressed the COVID-19 Pandemic with understanding, making note of the new relationship we all have with our world, how we will proceed into the new normal, digital future.
“COVID-19 has made us fundamentally re-evaluate our relationship with the world around us. It has catalyzed development of brand-new digital solutions in life, work, education, business management and public services. Today, digitalization is the new norm.”
Alibaba’s 20th anniversary:
He touched on how they have celebrated their 20th anniversary being grateful for their opportunities and beneficial growth thanks to the evolution and prosperity of the Chinese economy.
“This past year, we celebrated Alibaba’s 20th anniversary. Over the last 20 years, Alibaba has benefited from the supercharged evolution of the Chinese Internet landscape as well as the prosperity of the China economy. The trajectories of Alibaba and China are inextricably linked. Over the last 20 years, Alibaba has been preparing for the arrival of the digital economy era.”
Alibaba surpass US$1 trillion in GMV:
Despite the clear issues faced by many merchants due to the Coronavirus, Alibaba were still able to hit their strategic goal set 5 years ago and surpassed US$1 trillion in GMV.
“This was an important milestone for Alibaba, especially in the context of US$6 trillion in total annual retail sales of consumer goods in China today. Our next goal is to serve more than 1 billion consumers in China and facilitate more than RMB10 trillion of consumption on our platforms in the next five years as we continue on the path of globalization.”
Momentous events:
He spoke of Alibaba’s other momentous events that have helped improve Alibaba, the experience of consumers, advance the development of commerce and drive progress in society.
“This past year, we also celebrated a series of momentous events. Alibaba migrated its core system onto the public cloud, paving the way to build a cloud-native infrastructure for the future. We came home to Hong Kong for a secondary listing. Wang Jian became the first representative from a private Chinese enterprise appointed to the Chinese Academy of Engineering.”
Alibaba’s commitment:
The letter ends by talking about Alibaba’s commitment to stay creative, innovative, true to themselves, and prioritize customer value creation despite the competition surrounding them. They state that despite the ongoing tests being faced at the moment they will be staying focused on their goals and visions, to be a good company for 102 years and create value for society and help find solutions for society’s challenges.
“On the eve of our 20th anniversary, we laid out our vision to be a good company for 102 years. We are standing at an important intersection in history and our mission is being tested. Alibaba’s ultimate goal is to create value for society and help find solutions for society’s challenges.”
One Response
Until we can sell freely to China’s consumers, why can they sell here, why is the Royal Mail picking up the bill for there deliveries??????? I don’t agree with Trump on much infact on anything except, the way his dealing with the inequities in trade with China, i.e. we completely open to them, there are completely closed to us, stifled with red tape and requirements to partner with Chinesse Nationals.
Come on, Dominic Cummings (the real leader of this Country) and show us some proper leadership over this matter.