Rare poor quarterly earnings, two Chinese tech giants tightening their belts


Link: THE BL

The two Chinese tech giants, Alibaba and Tencent are experiencing sluggish sales for the first time after regularly talking to investors about innovation and new products in Financial Report Announcement meetings. However, the meeting turned to another topic – how to reduce costs.

The same goes for Alibaba, which reported flat growth for the first time in the second quarter.