Statement from Alibaba Group

HANGZHOU, China--()--A statement from Alibaba Group Holding Ltd. (NYSE:BABA) is below:

“Today Alibaba Group received notices from Zhejiang Price Bureau that the company has been fined RMB500,000 (approx. US$81,000) for matters related to Singles Day pricing by third-party sellers on our Tmall marketplace in 2013 and 2014 and RMB300,000 (approx. US$48,000) for pricing in other promotions in 2013 and 2015. Alibaba marketplaces are designed to bring buyers and sellers together and, while pricing by third party sellers is done independent of Alibaba, we are strongly committed to protecting consumers. Thus we will be reinforcing pricing rules and regulations with our sellers in our daily operations and emphasizing these rules well in advance of our 2015 Singles Day activities.”

About Alibaba Group

Alibaba Group's mission is to make it easy to do business anywhere. The company is the largest online and mobile commerce company in the world in terms of gross merchandise volume. Founded in 1999, the company provides the fundamental technology infrastructure and marketing reach to help businesses leverage the power of the Internet to establish an online presence and conduct commerce with hundreds of millions of consumers and other businesses.

Alibaba Group's major businesses include:

  • Taobao Marketplace (www.taobao.com), China's largest online shopping destination
  • Tmall.com (www.tmall.com), China's largest third-party platform for brands and retailers
  • Juhuasuan (www.juhuasuan.com), China's most popular online group buying marketplace
  • Alitrip (www.alitrip.com), a leading online travel booking platform
  • AliExpress (www.aliexpress.com), a global online marketplace for consumers to buy directly from China
  • Alibaba.com (www.alibaba.com), China's largest global online wholesale platform for small businesses
  • 1688.com (www.1688.com), a leading online wholesale marketplace in China
  • Alibaba Cloud Computing (www.aliyun.com), a provider of cloud computing services to businesses and entrepreneurs

Contacts

Alibaba Group
Bob Christie, 917-960-9410
bob.christie@alibaba-inc.com

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