Company Report: Taobao, Bank earnings, Huatai 

Alibaba unit’s live broadcast gross merchandise volume breaks 200bn-yuan mark

by Xu Yuenai
Company Report: Taobao, Huatai 
Alibaba’s Jack Ma. File photo.

(ATF) - Recent company announcements in China:

Alibaba released its 2020 Taobao Live New Economic Report on Monday.

Liu Bei, general manager of Taobao's content e-commerce division, said that in 2019 the company’s live broadcast gross merchandise volume (GMV) exceeded 200 billion yuan (US$28.57 billion) and had accumulated 400 million users.

A total of 177 anchors broke GMV billion annually, 40 million items entered the studio and businesses increased 268% year-on-year. Taobao Live's 2020 goal includes creating 100,000 anchors earning more than 10,000 yuan monthly, building 100 multi channel network (MCN) institutions with annual sales of more than 100 million yuan.


The 2019 financial results of the six major state-owned banks have been released. The total income of the six major banks reached 3.25 trillion yuan, up 7.96% year-on-year.  Net profit reached 1.12tn yuan, up 5.2%.

Among them, ICBC's operating income was 855.2bn yuan, up 10.5%, ranking first in terms of income scale and growth rate. Postal Savings Bank posted a net profit of 60.9bn yuan, up 16.5%.


The annual report released Monday evening by Huatai Securities showed that revenue last year was 24.9bn yuan, up 54.4% year-on-year with net profit of 9bn yuan, up 78.9%. Earnings per share were 1.04 yuan.  

The company plans to distribute a bonus 3 yuan for every 10 shares buy back stock for the implementation of the restricted equity incentive plan. The minimum number of buybacks is 45.4 million shares, the maximum is 90.8 million, the buyback price may not exceed 28.81 yuan per share and the total buyback fund may not exceed 2.6bn yuan.