Online retailers have largely benefited from the COVID-19 pandemic, as individuals staying home use e-commerce platforms like Alibaba, Pinduoduo and JD.com to purchase everything from groceries to electric appliances. Non-GAAP net profit, reported for the first time since the company’s listing in 2018, was 466.4 million yuan compared with a loss of 1.66 billion yuan a year before. “This is a milestone,” said Natalie Wu, internet analyst at Haitong International Securities. …read more
Source:: Yahoo Finance
