Tsai Chongxin responds to Alibaba Cloud's suspension of spin-off: The general environment has changed and further investment is needed to demonstrate the value of the cloud business

According to news from this website on November 16, according to The Paper, Alibaba held a financial report conference call after announcing the second quarter report of fiscal year 2024. Some investors asked whether Alibaba Cloud's listing plan was "suspended" or " Cancellation forever" and asked "will the spin-off of Alibaba Cloud be reconsidered after the market situation changes?" In response to this question, Alibaba Group Chairman Cai Chongxin did not give a clear answer.

Tsai Chongxin said, At that time, he wanted to completely spin off Alibaba Cloud because he wanted to show the true value of the business through so-called financial engineering. At that time, Alibaba Cloud was in a big market The environment, the entire operation is predictable, and the growth trend of the business can be clearly demonstrated to investors.

Now that the general environment has "changed", Tsai Chongxin said that he will no longer use "financial engineering", but "through further investment" to show the value of the cloud business. "In the future, we will seek to increase its growth, including revenue and profits."

Alibaba Group's financial report disclosed that due to various uncertain factors, it decided to cancel the complete spin-off plan of Cloud Intelligence Group. At the same time, Alibaba will continue to increase its strategic investment in Alibaba Cloud to ensure that it focuses on the development strategy of "artificial intelligence cloud computing" and is committed to building leading cloud computing services

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