On November 28th, PinDuoDuo(PDD) released its financial report for the third quarter of 2023, ending on September 30th. The revenue for the third quarter was 688.4 billion RMB, showing a year-on-year growth of 93.9%. The net profit, according to the U.S. General Accounting Standards, reached 15.54 billion RMB, with a net profit margin of 22.6%. PDD attributed its overall positive performance to the accelerated recovery of the consumer market and the vigorous implementation of its "high-quality development" strategy throughout the year.With that, PDD's market value is almost the same as th...

On November 24th, according to TianYanCha(A Chinese website to check company registration information), Hangzhou Majia Kitchen Food Co., Ltd. was established on November 22nd. The legal representative is PAU JASON JOHN, and the registered capital is 10 million RMB.The ownership information shows that the company is wholly owned by Hangzhou Dajingtou Er Shi Er Hao Cultural Art Co., Ltd., of which Alibaba founder Jack Ma holds a 99.9% stake.The business scope of this new company includes food sales (only pre-packaged food), import and export of goods, wholesale of edible agricultural products, w...

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Jack Ma, Alibaba founder and chairman, retires today. Today is the Teacher's day in China and also the 20th anniversary of Alibaba. It's a special day and also a memorable day for all Alibaba employees including employee No.1 Jack Ma.Ma steps down as chairman today as he promised 10 years ago when he was 45. Just a few years back in 2013, he left his position as Alibaba CEO. His successor will be Daniel Zhang who is the current CEO of Alibaba. After today, Jack will start his new life outside of Alibaba as he mentioned. He would invest more effort and time on other areas like education, c...

As a company's steer holder, the CEO or founder takes plenty of pressure ordinary people even cannot imagine. They usually need to deal with different aspects of daily operation of a company including technology, business, marketing, public relationship etc. Lots of meetings, negotiations and presentations are waiting for them every day. Hence time is a precious resource for them. Let's take a look at how these CEOs spend their time in their work.1. Apple CEO Tim CookGets up at 3:45 amStarts to read and reply emails at 4:30 amGoes to gym at 5 o'clockLeaves the office very lateNo time to t...

In many occasions, Alibaba Group Founder Jack Ma expresses the idea that he wanted Alibaba to be live for 102 years(a strange number). But why 102 years, but not 100 years or some other years? In an interview conducted by Stanford University, the interviewer, Yahoo Founder Jerry Yang, asked this question why Jack Ma wanted Alibaba to live 102 years. Jack Ma gave his answer to this question."In China, everybody wanted to make a company last over 100 years. This becomes a slogan, nobody takes it seriously. So if you want to give the KPI driven people, you should be very specific, then peopl...

Jack Ma, the founder and executive chairman of the biggest e-commerce website Alibaba.com in China, started his business with $20,000 that his wife and friends helped him raise. He is the first mainland Chinese entrepreneur to appear on the cover of Forbes. He is the richest man in mainland China with net worth of $22.5 billion. During these years of running Alibaba Group, Jack Ma summarized 10 advice for success, these advice are coming from his experience and mistakes he made. These ten advice are :1. Get used to rejection2. Keep your dream alive 3. Focus on culture4. Ign...

Alibaba has been listed on NYSE on 19 September. It becomes the largest IPO ever in the history of US stock exchange, larger than Facebook then the largest one. And after the trading closed on Friday, its share price closed at $93.89 per share, this makes it the second largest Internet company in the world following Google.Jack Ma, the founder of Alibaba, also becomes the richest person in China with a total wealth of $18.1 billion. He accepted interviews from different media during the IPO. Let's see what he has said post the IPO of Alibaba.The first one is from Fox Business, Jack Ma shared h...