Consumer Staples Sep 30, 2020 04:29 PM (GMT+8) · EqualOcean
At the 2020 Alibaba Investor Conference, Alibaba Group Chief Financial Officer Wu Wei said that Alibaba Cloud is expected to achieve profitability in the 2021 fiscal year, and Cainiao's cash flow from operating activities will become positive in the 2021 fiscal year. In addition, from the perspective of the growth quality of core business, the average consumption of consumers on Alibaba exceeds CNY 9,000, and the retention of consumers who spends above CNY 7,000 has reached 98%, meaning that the retention of high-income groups on Alibaba platform it is good.
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