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The following article was published in our article directory on February 24, 2011.
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Alibaba Compensate for Global Victims $1.7 Million

Article Category: Business

Author Name: xia zihui

Alibaba spokesman company CEO WeiZhe, COO LiXuHui etc for "China supplier" executive alleged fraud incident retires resignation held investors and analysts telephone meeting to discuss and executives adjustment and fraud incident caused influence. Alibaba non-executive directors CaiChongXin discloses, company in evaluating the user's claim risk by fraud, had already taken out $1.7 million to 2249 name from the global victims compensation, but alibaba think each case involving decieved case of fraud buyer payment average less than $1,200, so even assessment compensation, nor to the company's financial performance caused substantial influence.

Executives reiterated ali values unshakable

After the incident, the industry all think this alleged fraud quantity of suppliers alibaba 2010 customer accounts for only 1 per cent of the total, alibaba but made such great changes, the static some executives, and guess what may have too ultra other reasons.

To this, CaiChongXin, responded that this incident basically make alibaba company values confounded, according to alibaba's values, the company will not focused on specific income, not pay attention to short-term economic interests, place more emphasis on long-term customer value, and maintain the long-term credit market platform. But this incident is relaxed in the belief of executive obey, which a fraud, this intolerable, so we must make this reaction, to avoid further damage, maintain supplier reputation customer quality, ensure that the company value in the future will no longer be damaged. He said the indeed part of sales staff and supervisory personnel involved, as for the management and the events of involvement, taking the CEO of stand-to new LiuZhaoXi etc executives to our investigation.

The two companies LiuZhaoXi management conflict doesn't exist

Due to the CEO of alibaba board decided to appoint taobao LiuZhaoXi replace resign as the WeiZhe B2B listed company CEO of alibaba, so LiuZhaoXi will concurrently alibaba B2B and results show that the two companies CEO, therefore has the analysts worry about the future LiuZhaoXi in management between the two companies of affairs may mutual interference, existing conflict of interest.

CaiChongXin criterion, expressed as alibaba group's two subsidiary, dragons and alibaba B2B potentially synergy, because the two companies serve different customer group, existence complement each other space, ali think it will help LiuZhaoXi in the management of the two companies realized this synergy effect.

To succeed WeiZhe concurrently B2B listed company CEO LiuZhaoXi appointment is temporary or long-term problems, CaiChongXin said that at present the company is not looking for other candidates mean, but the board of the directors will visit to LiuZhaoXi after B2B company management.

WeiZhe mail hinted that the future could return to ali

"I quit today, though B2BCEO one duty, but I continued to wish ali career, wish ali's team, I can use for a period of time to reflect and reflection, also can use my way for ali's career and team, continue efforts! And look forward to the future, one day, can and alibaba's classmates to continue our career!" Yesterday, CEO of alibaba resignation WeiZhe wrote ali internal email exposure, the text of the wording of the mail to speculation suggests that the industry in the future WeiZhe may also return to alibaba, to this, ali haven't made any response.

Ali stock clinch a deal innovation low setback

Yesterday, by this news negative effects, alibaba share price low open low walk, opening, closing at quote for 15.88 hk $15.24 hk dollar, and more than a month to closing low.

With ali share price, South Korea future assets securities investment report, published ascribes alibaba B2B company stock rating from "buy" down to "hold".

Pay silver international thinks, the incident of the future financial status difference, because the incident took place on the end of 2009, influence has been completely in the past two years of earnings reflected.

Keywords: China Electric Forklift Truck, Diesel Towing Tractor

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