China's Alibaba.com Net Profit Up 33.8% In Q1 2010

Chinese B2B e-commerce company Alibaba.com has published its financial report for the first quarter of 2010, stating that its registered members, operating revenue, and profit saw overall increases.

According to Alibaba.com, though affected by seasonal factors, the number of its registered members still increased by 2.5 million during the first quarter of 2010, reaching a total of 50.25 million. Of these members, the number of paid suppliers in China exceeded 100,000 for the first time.

Encouraged by the growth of paid members, Alibaba.com achieved operating revenue of about CNY1.22 billion in the first three months of 2010, a year-on-year increase of 49.3%; and its net profit reached CNY330 million, a year-on-year increase of 33.8%.

At the same time, due to the increase of Alibaba.com's value-added services and its Chinese supplier members, its international trade market, one of the core businesses of the company, realized operating revenue of CNY718.9 million, a year-on-year increase of 42.2%. At present, the number of registered users of Alibaba.com's international trade market has reached 12.58 million. In addition, Alibaba.com's operating revenue from the Chinese trade market was CNY406.1 million in the reporting period, an increase of 34.9% compared with the same period of last year.

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