The once stormy growth of the Chinese online store and tech group Alibaba — parent company of online store AliExpress — came to a halt in the past quarter. Total revenues amounted to 205.6 billion yuan, equivalent to 29.9 billion euros. That is the same as last year. Analysts had widely expected a significant drop in sales. The profit halved to an amount of converted 3 billion euros.
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Parent company of webshop AliExpress feels European VAT rules and Chinese lockdowns
Bytaketonews
Aug 4, 2022
