Alibaba executives say they will slowly complete the exit from traditional physical retail business, which is 'reasonable but takes time'

In today's Alibaba earnings conference call, Tsai Chongxin answered a question about "selling non-core assets." He said that in the nine months since fiscal year 2024, Alibaba has successfully exited non-core assets with a total value of US$1.7 billion, and is actively studying how to exit through listed stocks. To this end, Alibaba has also set up a team to be responsible for this work.

Tsai Chongxin said, "Currently, Alibaba still has some traditional physical retail businesses on its balance sheet. They are not the core focus business, and it is reasonable for Alibaba to exit. But considering the current situation Due to market conditions, exit may take time to realize."

This site attaches a brief summary:

According to a Reuters report earlier this month,

Alibaba Group is seeking to sell its RT-Mart and Intime , Hema Fresh and other assets in order to divest non-core departments that are losing money and shift the company's development focus to the "core profitable part" of e-commerce.

Reports indicate that Alibaba Group is negotiating with multiple financial investors and plans to sell its department store and shopping mall operator Intime Commercial. Alibaba, RT-Mart and Intime did not respond to requests for comment from Reuters. However, a spokesman for Hema Xiansheng denied the relevant sale plan and declined to comment further.

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