Alibaba Group Holding Limited, the global e-commerce giant, has filed an amended annual report for the fiscal year ended March 31, 2023, with the U.S. Securities and Exchange Commission. The amendment, dated July 21, 2023, was submitted to address specific SEC comments regarding foreign jurisdictions that prevent inspections. The report confirms that the Public Company Accounting Oversight Board (PCAOB) has achieved full access to inspect and investigate accounting firms in mainland China and Hong Kong, including Alibaba's auditor, PricewaterhouseCoopers. This development suggests that Alibaba will not be identified as a Commission-Identified Issuer in the future. The company's financial performance details, including revenue and profit metrics, were not amended and remain as initially reported. Alibaba's business development continues to...Show More

Alibaba Group Holding Limited, the global e-commerce giant, has filed an amended annual report for the fiscal year ended March 31, 2023, with the U.S. Securities and Exchange Commission. The amendment, dated July 21, 2023, was submitted to address specific SEC comments regarding foreign jurisdictions that prevent inspections. The report confirms that the Public Company Accounting Oversight Board (PCAOB) has achieved full access to inspect and investigate accounting firms in mainland China and Hong Kong, including Alibaba's auditor, PricewaterhouseCoopers. This development suggests that Alibaba will not be identified as a Commission-Identified Issuer in the future. The company's financial performance details, including revenue and profit metrics, were not amended and remain as initially reported. Alibaba's business development continues to be diverse, with various minority state-owned strategic investors in its digital media and entertainment business and other sectors. The company's shares are traded on the New York Stock Exchange and the Hong Kong Stock Exchange, with no significant governmental entity shareholding disclosed. Alibaba's future plans are not detailed in this amendment, but the company's ongoing compliance with SEC regulations and the resolution of the PCAOB's inspection concerns are positive steps for its international business operations.