SinaUS Stock News reported on the 16th, Beijing time, that S&P maintained Alibaba's A+ rating, and the outlook is stable. S&P issued a statement saying that in China's huge and rapidly growing e-commerce market,AlibabaHe will continue to be a prominent leader.

According to S&P, the stable outlook reflects S&P's expectations that the company will continue to expand its share in the Chinese e-commerce market and that profit margins will remain strong. Alibaba's declining profitability will stabilize over the next 24 months. Its EBITDA margin will drop slightly from 33% in FY2019 to around 30% in FY2021 due to a shift in revenue structure to other non-core business sectors with lower profit margins.

The report said that since Alibaba's revenue in China exceeds 90%, its rating will still be limited by China's sovereign rating. Alibaba's long-term plan is to increase the number of overseas users and revenue contributions, which may help overcome sovereign rating restrictions in the long run.