Alibaba Group Holding Limited (NYSE:BABA) Q2 2023 Earnings Call Transcript

And that in turn is reflected in more revenue that can be recognized for Alibaba and an improvement in revenue for China. With this upgrade in our model, we are better able to provide services to our customers and at the same time, also able to satisfy regulatory requirements that have been into this space.

Daniel Zhang: Thank you. This is Daniel regarding the second question. Ever since Trendyol was established back in 2013, it has been independently operated within the Alibaba family, but providing external services and more importantly, with external shareholders as well. So today, the Alibaba Group owns some 67% of Trendyol, and there are other investors as well. Over the years, Trendyol has invested in robustly building up its last-mile capabilities. Trendyol Post delivery stations on campuses, in villages all around the country and also in developing very robust supply chain capabilities with domestic logistics and cross-border as well. So as far as Alibaba is concerned, of course, we look forward to seeing Trendyol continue to achieve very robust development, building those capabilities and for those capabilities in turn to feed back into and better drive Alibaba’s growth as well in terms of our domestic commerce business, our international commerce business, be it 2C, be it 2B as well.

And this is a really important kind of synergy that we see across the businesses. Certainly, Trendyol will continue to be independently operating in the market and achieving success more broadly in the market.

Rob Lin : Okay. Thank you, everyone, for participating in today’s earnings call. Today’s call, we’ll have a transcript available later on the — on our corporate website. Please feel free to reach out to me and the IR team for any follow-ups. We will see you next quarter. Thank you.

Operator: Thank you. That does conclude our conference for today. Thank you for participating. You may now disconnect.