Companies's net profit surges 386.7 pct in Q1 2019

2019-05-13 10:57

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BEIJING, May 13 (Xinhua) -- China's online retailer giant saw a soaring net profit attributable to common shareholders of 7.3 billion yuan (1.1 billion U.S. dollars) for the first quarter of 2019, up sharply by 386.7 percent year on year, the company announced Friday.    

Net revenues for the first three months rose 20.9 percent year on year to 121.1 billion yuan. The company boasts active customers of 310.5 million by the end of March.    

"The first quarter saw solid top-line growth with record-breaking profitability," said's chief financial officer Sidney Huang, noting that the company will remain focused on customer experience and technology innovation to support long-term profit growth.    

The company expects net revenues to be between 145 billion yuan to 150 billion yuan for the second quarter, representing a growth rate between 19 percent and 23 percent.    

As of March 31, the NASDAQ-listed company has more than 220,000 merchants on its online marketplace and over 179,000 full-time employees. The company operates more than 550 warehouses across China.
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