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阿里巴巴寻找新商机

更新时间:2016/1/29 10:17:55 来源:纽约时报中文网 作者:佚名

Alibaba Searching for New Revenue Sources
阿里巴巴寻找新商机

Alibaba is benefiting from China’s shift toward a consumer economy. The e-commerce group’s earnings in the last three months of 2015 offer another insight into China’s economy as well. Both the company and the country need to find new ways to grow.

阿里巴巴从中国朝消费型经济转向的过程中受益。这家电商集团在2015年最后三个月的盈利,也为中国经济提供了另外一种解读。无论是公司还是国家,都需要找到新的增长点。

Revenue surged 32 percent year-on-year to $5.3 billion in the quarter, beating expectations. Transactions on Alibaba’s online marketplaces grew 23 percent, the slowest expansion in more than three years. But the $175 billion company’s “take rate” — how much, as a share of transaction value, the company captures from advertising fees and commissions – increased to 3 percent at the end of 2015, compared to 2.7 percent in the same period in 2014. Advertisers and sellers are paying more to Alibaba even as volume growth declines.

阿里巴巴该季度的营收与去年同期相比飙升32%,至53亿美元,业绩好于预期。阿里巴巴的线上集市交易额增长23%,是三年多以来增长速度最慢的一个季度。但是在2015年年底,该公司的“转换率”——公司从成交额中赚取的广告费和佣金比例——从2014年同期的2.7%增加到了3%,达1750亿美元。销量增长在下滑,但广告主和卖家向阿里巴巴支付了更多费用。

The company, founded by Jack Ma, is benefiting as Chinese consumers get richer. China’s gross domestic product expanded 6.9 percent in 2015, the slowest pace in 25 years. Growth in property investment, a major driver of the economy, dropped to an unimpressive 1 percent – a seven-year low. The country’s retail sales of consumer goods were up 10.7 percent, though. Add the continuing trend from bricks-and-mortar to online retailing, and that’s positive for Alibaba’s top-line growth story.

中国消费者变得富裕,令马云创办的这家公司受益。2015年,中国国内生产总值增长6.9%,创下25年来的最慢速度。作为中国经济的主要驱动力,房地产投资依然增长乏力,增长率已经降至乏善可陈的1%——创下七年新低。但该国的消费品零售额增长了10.7%。从实体零售向网络零售转移的趋势仍在继续,这对阿里巴巴的强劲增长是个利好。

As with China’s economy, however, Alibaba’s sheer size makes growth harder to come by. After years of expanding at a breakneck pace, the e-commerce group commands 80 percent of its market and is now making a push for rural shoppers. Mr. Ma and his colleagues are also seeking new sources of revenue in areas like food delivery and cloud computing. Revenue for the latter accounted for just 2 percent of the company’s total, but it more than doubled to $126 million in the three months to December.

然而,和中国经济一样,阿里巴巴庞大的规模也让增长势头较难持续。经过多年的飞速扩张,电子商务已经开发了这个市场的80%,眼下正在面向农村消费者发力。马云及其同事也在寻求新的营收来源,比如食品配送和云计算。后者营收只占公司总营收的2%,但在去年最后三个月增长一倍多,达1.26亿美元。

Shares of Alibaba have fallen more than 15 percent since the start of the year. Rivals like JD.com and Baidu have experienced worse slumps. Alibaba’s fortunes may increasingly decouple from China’s macroeconomy, but that gives investors an even more challenging task trying to look into the company’s future.

自今年年初以来,阿里巴巴的股价下跌逾15%。京东和百度等竞争对手的跌幅更大。阿里巴巴的发展也许会越来越多地脱离中国宏观经济形势,但是,对于那些想预测该公司前景的投资者来说,挑战也变得越来越大。

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