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Alibaba FY revenue up 39%

By Tong Hao (chinadaily.com.cn)
Updated: 2009-03-19 19:24

An Alibaba salesman prepares for e-commerce promotion at an exhibition in Shanghai, April 8, 2008. [asianewsphoto]

Alibaba.com Ltd, China's leading B2B e-commerce portal, said on Thursday that its revenue in 2008 increased by 39 percent year-on-year to 3 billion yuan ($439 million), helped by the addition of more paying members.

The portal posted a net profit of 1.2 billion yuan, a 25 percent increase over 2007. Excluding non-recurring interest income from its IPO over-subscription proceeds of 351 million yuan in 2007, its net profit in 2008 would have increased by 95 percent, the Hong Kong-listed company said in its annual financial report.

In 2008, the paying members of the company increased by 41 percent to 432,031. Meanwhile, its registered users increased by 38 percent to 38.08 million, among which international users increased by 80 percent to 7.9 million.