Latest news with #EddieWuYongming
South China Morning Post
5 days ago
- Business
- South China Morning Post
Alibaba seeks to reclaim e-commerce dominance in China with cross-service loyalty scheme
Alibaba Group Holding is set to launch a new membership programme spanning a range of services from an online marketplace to food delivery and travel booking, according to Chinese media reports and a person with knowledge of the matter, as the tech giant strives to recapture its leading position in China's competitive e-commerce market. Advertisement Alibaba's e-commerce group, led by Jiang Fan , will provide members of Taobao – China's largest online marketplace – with subsidised access to various other company services, including the on-demand delivery app online travel agency Fliggy and grocery chain Freshippo, according to Chinese media reports. The development was first reported by Chinese financial news portal A source, who declined to be named as the information is not public, confirmed the programme's coming launch. Alibaba, owner of the Post, did not respond to a request for comment on Tuesday. An delivery man in Beijing. Photo: Simon Song The planned move would follow the merger of and Fliggy into the e-commerce group. Initiated in late June, the restructuring 'marks a strategic upgrade from an e-commerce platform to a comprehensive consumer platform', Alibaba CEO Eddie Wu Yongming said in a letter to employees. Advertisement According to Sina's report, Alibaba also planned to enhance its 88VIP membership scheme, which offered benefits like free delivery for returns. Touted as China's largest paid e-commerce loyalty programme, it had more than 50 million subscribers as of March.
South China Morning Post
29-07-2025
- Business
- South China Morning Post
Alibaba, Standard Chartered partner to accelerate AI adoption in banking sector
The two companies signed a memorandum of understanding that would see Standard Chartered leverage solutions from Alibaba Cloud – the Hangzhou -based firm's AI and cloud computing services arm – to enhance operational efficiency and elevate customer experience, according to a statement on Tuesday from Alibaba, which owns the South China Morning Post. 'Through this strategic alliance, we will combine Alibaba's technological expertise with Standard Chartered's deep industry knowledge to unlock new possibilities,' Alibaba CEO Eddie Wu Yongming said. Their cooperation includes building AI-powered customer engagement tools, automating risk management and compliance, and talent development at the bank through AI workshops and certifications for employees. 'From education to healthcare and scientific research, AI has already shown its potential to drive transformational change,' Wu said.
Yahoo
25-06-2025
- Business
- Yahoo
Alibaba Group (BABA) to Combine Ele.me and Fliggy to its Core E-Commerce Business
Alibaba Group Holding Limited (NYSE:BABA) is one of the 10 Best and Cheap Stocks to Buy Now. On June 23, the Wall Street Journal reported Alibaba Group Holding Limited (NYSE:BABA) is combining its food-delivery platform and online travel services platform Fliggy to its core e-commerce business. This is a strategic move that realigns the company's resources towards its core revenue driver and develops a stronger delivery network. Alibaba Group Holding Limited (NYSE:BABA) has been facing serious competition from competitors like and Meituan, this move indicates that the company is fortifying its delivery network. Following the folding, the CEO of and Fliggy will directly report to Jiang Fan, who leads Alibaba's E-commerce Business Group. An e-commerce platform displaying a wide range of products to customers online. The company in April also launched a new rapid delivery feature on its shopping platform, Taobao. 'This marks a strategic upgrade as we evolve from an e-commerce platform into broader consumer-focused platform,' said Eddie Wu Yongming, Chief Executive of Alibaba Group Holding Limited (NYSE:BABA). While we acknowledge the potential of BABA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None.
Yahoo
25-06-2025
- Business
- Yahoo
Alibaba Group (BABA) to Combine Ele.me and Fliggy to its Core E-Commerce Business
Alibaba Group Holding Limited (NYSE:BABA) is one of the 10 Best and Cheap Stocks to Buy Now. On June 23, the Wall Street Journal reported Alibaba Group Holding Limited (NYSE:BABA) is combining its food-delivery platform and online travel services platform Fliggy to its core e-commerce business. This is a strategic move that realigns the company's resources towards its core revenue driver and develops a stronger delivery network. Alibaba Group Holding Limited (NYSE:BABA) has been facing serious competition from competitors like and Meituan, this move indicates that the company is fortifying its delivery network. Following the folding, the CEO of and Fliggy will directly report to Jiang Fan, who leads Alibaba's E-commerce Business Group. An e-commerce platform displaying a wide range of products to customers online. The company in April also launched a new rapid delivery feature on its shopping platform, Taobao. 'This marks a strategic upgrade as we evolve from an e-commerce platform into broader consumer-focused platform,' said Eddie Wu Yongming, Chief Executive of Alibaba Group Holding Limited (NYSE:BABA). While we acknowledge the potential of BABA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Star
25-05-2025
- Business
- The Star
Alibaba's entertainment group renamed after killer whale as it seeks to revive growth
Alibaba Group Holding is renaming its digital entertainment division as part of a broader push to reinvigorate growth outside its core e-commerce and cloud businesses. Alibaba Digital Media and Entertainment Group will be renamed Hujing Digital Media and Entertainment Group, using the Chinese name for the orca, or killer whale, Alibaba said in a statement on its official WeChat account on Wednesday. 'Orcas are large but flexible and smart, and can adapt to various complex environments,' the entertainment group said in a letter to employees. 'These characteristics are very consistent with the concept pursued by the entertainment group: digital intelligence, symbiosis and happiness.' Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team. The rebranding adds to Alibaba's 'zoo', as some refer to the technology conglomerate's animal-themed businesses. It includes Tmall, represented by a black cat, and logistics unit Cainiao, which literally means 'rookie bird'. The move aligns with Alibaba's strategy to 'return to the original mission and start a new business', the company said. Alibaba, which owns the South China Morning Post, two years ago announced a sweeping restructuring that split the company into six distinct business groups. It is now seeking to break down its internal silos. Earlier this month, CEO Eddie Wu Yongming told employees in an internal memo that the company would 'mobilise at full strength and concentrate our efforts on a few core strategic priorities', with 'key initiatives driven jointly by multiple businesses'. The company needed to 'embrace a zero-to-one mindset and think like a start-up to create new opportunities', he added. Separately, the filmmaking subsidiary Alibaba Pictures, which is overseen by the entertainment unit, announced a plan to change its name to Damai Entertainment Holdings, according to a filing to the Hong Kong stock exchange on Wednesday. The Hong Kong-listed shares of Alibaba Pictures rose by 23 per cent to HK$0.75 (10 US cents) on Wednesday. Alibaba Group closed up 1.2 per cent to HK$123.1. While the entertainment division remains a relatively small part of Alibaba's business empire, it posted improved results last financial year, which ended March 31. Revenue climbed 5 per cent to 22.3 billion yuan (US$3.1 billion), driven by growth at Alibaba Pictures and video platform Youku, according to the company's latest earnings report released this month. The unit accounted for just 2 per cent of Alibaba's total revenue of 996 billion yuan. The division remains unprofitable, though losses narrowed to 554 million yuan from 1.54 billion yuan in the previous year. More from South China Morning Post: For the latest news from the South China Morning Post download our mobile app. Copyright 2025.
