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> Tencent Holdings Ltd., with nearly 1 billion users, reported that its net income almost doubled in the last quarter, to $3.3 billion. Alibaba Group Holding Lt
by thisisit 9y ago
> Tencent Holdings Ltd., with nearly 1 billion users, reported that its net income almost doubled in the last quarter, to $3.3 billion. Alibaba Group Holding Ltd., which dominates online retail, is expecting growth of 55 percent this year. Investors may worry about Chinese debt, but they're giddy about Chinese tech.
Anyone knows the SEC equivalent site for pulling revenue numbers for Chinese companies? If possible, direct links for Tencent and Alibaba will be even more helpful.
The reason I am asking is Alibaba has been investigated for their creative accounting:
https://www.thestreet.com/story/14277425/1/alibaba-still-cooperating-with-sec-probe-as-it-forecasts-45-to-49-sales-growth.html https://www.thestreet.com/story/14277425/1/alibaba-still-coo...
And, I recently watched "The China Hustle" documentary. Discussed here:
https://news.ycombinator.com/item?id=16726355 https://news.ycombinator.com/item?id=16726355
One of the highlights in the documentary was the financial reporting. There was a huge gap between revenues western Media and US markets was seeing vs what was being reported in China. The whole idea being accessing financial data for Chinese companies was hard.
- jk2323 9y ago> Tencent Holdings Ltd., with nearly 1 billion users Sounds reasonable. I would start wondering if they claim 20 Billion users, but hey, you never now. Alibaba is also an outstanding company: http://brontecapital.blogspot.de/2015/10/alibaba-yeah-right-jack.html http://brontecapital.blogspot.de/2015/10/alibaba-yeah-right-... http://brontecapital.blogspot.de/2015/09/job-interview-questions-size-and-scope.html http://brontecapital.blogspot.de/2015/09/job-interview-quest...
- justicezyx 9y agoWell taobao pretty much is the majority of buying for many people. The blog posts are roughly as baseless as what it claims Jack Ma is.
- jk2323 9y ago44% of income? Wow. I think total online sales in the US are something like 7%
- justicezyx 9y agoThe people shopping on taobao and the whole population are different You cannot derive 40% from that. Also there is obviously a fraud transaction business to boost the number. Alibaba, by not cracking down them, acting to benefit from that too. As I said, data are not accurate. But that should be be drawn from wrong facts.