“The stock price is really not high.”
The closing price of Alibaba today is HKD 39.5. Ma said that in the beginning they did not set the price very high. The future development of China's small and medium-sized enterprises and science-and-technology enterprises will certainly be great. Some people said that China's economy was a bubble economy but its economy continued to grow. China is a place where miracles can happen.
“Choosing Hong Kong is right.”
Ma said that it was right to choose Hong Kong for going public. Good companies attract each other. Listing in Hong Kong will help Hong Kong's high-tech enterprises in the future. Alibaba chose not to go public in the United States, not because of concerns about the Sarbanes-Oxley Aact. Hong Kong can contribute to Alibaba; Alibaba can also contribute to Hong Kong.
“We did not take interest into account when IPO froze our funds for 10 days.”
Alibaba’s IPO froze its funds for 10 days, which is longer than the average of 7 days IPO freezing time. Wei Zhe, Alibaba’s former CEO, said that Alibaba was concerned about the operating profit and did not calculate or care about the fronzon fund’s interest.
“This is the last time I meet the media in the coming year.”
Ma said there would be one last meeting with the media in the coming year. “In the future, I want to realise an annual profit of $500 million to $1 billion. I am as curious as anyone else about the rumours about me on the internet. Alibaba persisted with its dream for eight years and has not changed until today. We have done this in accordance with the goals of recent years. I am not setting a specific goal now, otherwise someone will say I am arrogant, but I am not afraid of anyone saying so. Over the next three years, the Internet is still laying the foundation, and we need to keep going on once we have set our direction. Like me, all entrepreneurs should realise their dreams.”
“Lend money to employees to pay taxes.”
Ma explained the issue of freezing shares of employees. Six months after freezing, employees were able to sell 40% of the shares and 60% after another six months. Given that the employees have to pay taxes, the company has lent money to employees, but interest on loan is very low. “I am not afraid that my employees are rich, I hope all my employees get rich.”
“Investors should follow entrepreneurs.”
When Alibaba bought Yahoo in 2001, Ma always wanted to go back to school to teach. Ma promised investors not to leave before 2001. Ma said that at that time some people misunderstood his message: they thought the investors wanted to fire me. There are many great investors in the world. Investors should follow good entrepreneurs, but we can’t let entrepreneurs follow investors. I will listen to the investors in Japan and the United States, but in China they have to listen to me.
Nearly 40,000 Alibaba employees gathered for the 18th anniversary celebration in Hangzhou, Zhejiang Province on September 8th, 2017. Chairman of Alibaba Group Jack Ma said he had spent 870 hours on fl...
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