Alibaba Group Holding (BABA) Q2 2017 Results
Daniel Yong Zhang
Consumer behavior is evolving dramatically
“Consumer behavior is evolving dramatically as the population getting younger and more proactive in upgrading their lifestyles. At the same time, merchant increasing dramatically with latest technologies inspires them to embrace new ways to improve business efficiency and serve customers. We believe the convergence of these factors will bring about a significant disruption of the existing commercial landscape and emergence of a new retail model.”
Not just about growing online in isolation
“The most important opportunity on horizon is helping traditional business to upgrade into a new retail model and not continuing to grow online business in isolation. Online and offline will be a single seamless experience, not just in consumer interaction, but also in the entire business operation and execution. We want to improve efficiencies across the entire value chain of product design, manufacturing, distribution and the services.”
Joseph C. Tsai – Alibaba Group Holding Ltd.
We in a process with the SEC
I’ll address the second question. As you know, we’ve been in the process of – with the SEC, they’ve sent us a letter inquiring as to a number of issues. On this, we’ve been very transparent with you guys about what’s going on. We disclosed all the issues involved and the fact that we’re voluntarily cooperating with the SEC in their inquiry. We don’t think there’s any factual basis to the New York Post story. So on that score, when we have real news we will update everyone.