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消费者支出攀升,阿里第四季度销售上涨39%

更新时间:2016-5-8 8:58:17 来源:纽约时报中文网 作者:佚名

Alibaba Sales Up 39% on Increased Consumer Spending in China
消费者支出攀升,阿里第四季度销售上涨39%

HONG KONG — The Alibaba Group said on Thursday that sales rose 39 percent in the fourth quarter, buoyed by increased consumer spending despite a slowing Chinese economy.

香港——阿里巴巴集团周四表示,公司第四季度销售额上涨39%。这一增长得益于消费者支出的攀升,尽管目前中国经济增长在放缓。

Gross merchandise volume, a closely watched measure of the transactions on the company’s websites, rose 24 percent to $115 billion. The company posted a net income of 3.02 renminbi, or 46 cents, per share, lower than the expected 3.60 renminbi a share.

阿里巴巴的成交总额,达到7420亿元人民币,上涨了24%,这是显示该集团多家网站交易情况的一个备受关注的指标。阿里巴巴公布的净收益为每股3.02元人民币,低于预期的每股3.60元。

Alibaba’s shares jumped more than 5 percent in premarket trading in New York on Thursday, but there may be a limit to how far they can climb.

在纽约证券交易所周四的盘前交易中,阿里巴巴的股价上涨逾5%,但它继续攀升的幅度可能会比较有限。

When Alibaba was listed in late 2014, the hype the company had built up helped it raise more than $20 billion, the largest public listing in United States history. Since then, a sagging Chinese economy and a slowdown in spending growth on Alibaba’s platforms have meant that despite solid results, the company’s share price has not returned to the level it reached on the first day of trading.

在2014年末上市时,阿里巴巴的大肆宣传帮助它募集了逾200亿美元资金,成为美国历史上规模最大的上市交易。自那以后,中国经济表现乏力,阿里巴巴各交易平台上的消费增长放缓,因此该公司尽管业绩稳固,但股价再也没能回到上市当天达到的水平。

Despite those concerns, the company said on Thursday that it had beaten earnings expectations, potentially restoring some luster. That is in part because Alibaba has succeeded in making more with less.

虽然有这些担忧,但阿里巴巴周四表示其收入增长超过预期,有可能恢复昔日的一些荣光。之所以有这样的表现,部分原因在于阿里巴巴成功地以更低的成本创造了更高的收益。

Although the amount spent on Alibaba’s marketplaces has grown about 20 percent this quarter and last, its revenue from advertisements and commissions on those sites has grown 30 percent or more. In the longer term, investors expect those numbers to align more closely, meaning slower sales growth.

尽管阿里巴巴各交易平台上的消费额在本季度和上季度的增长幅度约为20%,但它从这些网站获得的广告和佣金收入却上涨了至少30%。从更长期的角度看,投资者预计这两个数字会更加接近,也就是说销售增长会更为平缓。

In an attempt to address concerns about China’s economy, Alibaba’s executive vice chairman, Joseph C. Tsai, wrote in a blog post released with the earnings report that Chinese consumers had cash reserves of more than $4.6 trillion.

阿里巴巴董事局执行副主席蔡崇信(Joseph C. Tsai)撰写了一篇博客文章,与财报一起发布,意在回应投资者对中国经济的担忧。文中写到,中国消费者掌握了超过4.6万亿美元的现金储蓄。

“Chinese consumers, with their healthy balance sheets and ability to spend, will propel China’s shift from an export- and investment-led economy to a consumption-driven economy,” Mr. Tsai added, drawing contrasts with American consumers’ high levels of debt before the financial crisis.

“中国消费者拥有健康的资产负债水平和良好的消费能力,将推动中国经济从出口投资导向型转向内需拉动型,”蔡崇信还写道,并将中国的情况与美国消费者在金融危机之前的高负债水平做了对比。

Even so, analysts mostly agree that growth in spending on Alibaba’s e-commerce sites will most likely continue to moderate. Combine that with rising competition from JD.com, which operates a business model similar to Amazon’s, as well as skepticism about some of Alibaba’s strategic investments and acquisitions, and the positive earnings lose a bit of their shine.

尽管如此,大多数分析师依然认同阿里巴巴旗下各大电子商务网站上消费额的增长势头很有可能会持续平缓。再考虑到来自商业模式与亚马逊类似的京东的竞争日益加剧,以及外界对阿里巴巴一些战略投资和收购行为持怀疑态度,这些盈利数字也多少失去了一些光彩。

“Alibaba is easy to pick on because there are a half-dozen small issues they’re facing at the moment,” said Chi Tsang, an HSBC analyst.

“阿里巴巴很容易被指摘,因为他们眼下就面临着五六个小问题,”汇丰银行(HSBC)分析师曾智(Chi Tsang)说。

“But people don’t think about how much cash this company generates,” he added, pointing out that with Alibaba’s huge cash flow, strong business model and dominance in online shopping, the company is undervalued.

“但大家不考虑这家公司在赚取多大的收入,”他接着说道。他指出阿里巴巴拥有巨大的现金流,强大的商业模式,在网上购物领域也占据优势地位,因此它的价值被低估了。

Although it may be a while before the company gets a jolt from an improving Chinese economy, Alibaba could be lifted by its affiliate Ant Financial.

依靠中国经济改善助推阿里巴巴的增长,可能还需不少时日。尽管如此,其股价却有可能因子公司蚂蚁金服而得到提振。

“Ali’s share price could benefit from an I.P.O. of Ant Financial,” the Nomura analyst Jialong Shi wrote in a report, while adding the company was unlikely to be listed this year.

“阿里的股价可能会受益于蚂蚁金服的IPO,”野村证券(Nomura)分析师史嘉龙(Jialong Shi,音)在一份报告中写道,不过他也表示后者不太可能在今年上市。

Last week, Ant Financial announced that it had raised $4.5 billion, valuing the company that processes much of the payments on Alibaba’s platforms around $60 billion.

上周,蚂蚁金服宣布获得45亿美元投资,将这家公司的估值推至600亿美元左右。阿里巴巴交易平台的许多支付业务经由蚂蚁金服处理。

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