Alibaba in trouble? The chairman of Caixin Media, Xie Jinhe, wrote in a Facebook post, “Ali’s hard time,” he said, Christmas Eve, for the U.S., Hong Kong-listed Alibaba, this year should be a black Christmas.
Xie Jinhe pointed out that Ali, listed in Hong Kong, fell heavily by HK$20.2, or 8.13%, on the 24th, closing at HK$228.2, leaving a market value of HK$4.8975 trillion, and Ali’s share price flung below the annual line. Ali, listed in the United States, plunged $34.18 in a single day to close at $222, leaving a market value of $600.652 billion. The market value of Ali has evaporated more than $200 billion in a very short period of time, and it looks like Ali’s nightmare is not yet at the end.
The first time I saw a photo of a horse floating in the blue sky, it was full of imagination,” said Xie Jinhe. It reminds me of the image of Yongzheng Dynasty’s strain of killing Nian Zhuyao, which doesn’t look good for Ma.
He pointed out that Ali’s disaster started when the IPO of Ant Group was halted, followed by the interview of four Ant Group executives and the discovery by China’s central financial regulator that 500 million people were involved in chanting and borrowing, with an outstanding balance of 263 billion yuan, which revealed the seriousness of the situation. Next came the central government’s offering of new anti-monopoly norms, with Ali, Tencent becoming the number one target, even as Jingdong appealed to Tmall in 2017 for forcing two-for-one unfair competition to be reopened.
Xie Jinhe also said that the Hong Kong stock market in the 24th also appeared strong reaction, in addition to the heavy fall of Ali, Tencent fell 15 Hong Kong dollars, the United States Mission fell 7.8 Hong Kong dollars, Jingdong fell 7.6 Hong Kong dollars, the original want to rely on the new economy big enterprises to hold up half of the Hong Kong stocks and pull the alarm.
It was reported that Jack Ma wanted to donate Ant Group to the state in exchange for a chance to go public, but Ma was so big that the reigning boss was scared and this bad luck followed. I think of Nian Zhuyao’s transformation from a great general to a general in Hangzhou, then to a minor official guarding the city gates, and then… the Xinhua News Agency’s picture of a horse strolling on the clouds, which is full of endless imagination”.
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