Alibaba Empire Collapsing? Desperate for Survival, Hema and Rt-Mart Might Be Sold off Cheap!

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Once hailed as Asia's most valuable company, Alibaba saw its market value surpassed by rival Pinduoduo for the first time in November last year. Alibaba's market value plummeted from its October 2020 peak of $857.7 billion to $210 billion in February 2024, less than half of Tencent's.
Alibaba Group is navigating unprecedented challenges, with Freshippo, RT-Mart, and Intime among the assets listed for sale to focus resources on core businesses such as e-commerce, Alibaba Cloud, AI, and logistics. 2024 is a pivotal year of consolidation for Alibaba. Analysts perceive the company to have conceded defeat.

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