Alibaba has bucked the stock rally crash tell us anything

　　Clunker in the Chinese market and poor's 500 index soared 2.5% yesterday, but what is surprising is, Chinese e-commerce giant Alibaba shares bucked down 4.69%. 60.91 's closing price of a $ 68 dollars has fallen over the offer price of 10%. US mission personnel changes CSDN editor Liu Jiang

　　What the hell is this?

　　Let us look at a message yesterday: Alibaba group said that under the influence of weak consumer spending in China, the company expects second-quarter GMV (commodity trading) will be lower than previously expected, and lower in the Middle single digits percentage.

　　In early trading on Tuesday, Alibaba Group's shares have been climbing 4.5%, shares up to $ 66.81. After the company released the information, the company's share price plunged, the minimum exploration to $ 60.25.

　　Causes found, GMV data a little, was Ali's share price fluctuations of more than 9%. It is why there is so much "power"?

　　Total GMV commodity trading, refers to the Alibaba group, the total value of completed transactions on the platform, the e-commerce industry is most concerned about one of the company's main data.

　　For the capital market, and the rapid growth of e-commerce companies is far more important than short-term profits. GMV is the core indicators to measure company growth.

　　Jingdong to Alibaba's rivals, for example, although the first-quarter net loss of more than 200 million Yuan, but GMV up to 87.8 billion yuan, an increase of 99%, Jingdong share price from $ 24 in the year rose to $ 37 in early June. Although it was then almost fell down, keep the level at the beginning of the current shares. By contrast, Ali's performance is far less, have retreated from us $ 100 at the beginning of about 40%.

　　The Alibaba in the fiscal first quarter ended in June this year, GMV growth rates as high as 34% YOY, sequential growth rates 12%. If this is OK, so growth in the second quarter "single digits percentage of lower-middle" of course disappointed the market.

　　From GMV in the first quarter and split (below) we can see that Taobao's growth has slowed severely, only 25% per cent. Cat 55% of growth hold up much of the growth of the group.

　　

　　Market worry is clearly more than that, GMV behind the decline reflected a potential slowdown in China's economy is the real concerns of the market. "Single digits percentage" refers to the 1%-9%, "lower-middle" fears even more: the growth rate of less than 5%? you know, China's retail sales growth at least in 10%. Less than 5% of growth means that Alibaba's sales growth in the second quarter was less than half of China's overall retail growth.

　　

　　In July, national retail sales of physical goods online grew 37%, shopping in the share of the total retail sales of social consumer goods up to 9.7%. As China's largest e-commerce company, Alibaba's slowing growth, further slump means that overall retail growth in China?

　　4.2% final consumption expenditure GDP growth in the first half this year, contributed to 60%, were 5.7% higher than over the same period a year earlier. Downturn in the real economy, the background of weak external demand, if consumption growth also slows down, this is the real concerns of the Chinese economy.