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Cai Chongxin's response to Alibaba Cloud's suspension of spin off: The overall environment has changed, and the value of cloud business needs to be demonstrated through further investment

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Cai Chongxin responded to Alibaba Cloud's suspension of the split: the overall environment has changed and further investment is needed to demonstrate the value of cloud business. On November 16th, during an Alibaba financial report conference call, investors asked whether Alibaba Cloud's listing plan will be suspended or permanently cancelled. After the market situation changes, will Alibaba Cloud's split be reconsidered. Cai Chongxin, Chairman of the Alibaba Group Board of Directors, did not provide a clear answer. Cai Chongxin stated that at that time, he wanted to achieve a complete separation of Alibaba Cloud in order to demonstrate the true value of the business through the so-called financial engineering method. At that time, Alibaba Cloud was in a predictable environment and the entire operation could be transparent, demonstrating the growth trend of the business to investors, Nowadays, the overall environment has changed, and we are no longer using financial engineering, but through further investment to demonstrate the value of cloud business. In the future, we will seek to increase its growth, including revenue and profits
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