为外资数钱

The Foreign Invested BAT

上市前夕，阿里巴巴估值大涨。季报显示，2013年第四季度阿里营收同比大增66％，达30．58亿美元；毛利23．7亿美元，增长了73％；而净利润更飙升110％达到13．6亿美元，基于12位市场分析师的平均预计，阿里巴巴集团的估值达到1680亿美元。其上市将是继Faeehook之后全球最大的IPO。上市之最大赢家，除了马云团队，是软银和雅虎。

As the Alibaba IPO date approaches,the company's evaluation rose sharply.Its quarterly report indicates that the company's revenue rose to USD3,058 million in the fourth quarter of 2013,an increase of 66%.The gross profit in the same period rose to USD2,370 million,a rise of 73%.And the net profit climbed by an astonishing1 10%,up to USD1,360 million.Its market value reckoned by 12 analysts averaged USD168 billion.The company's IPO may be the biggest one after Facebook's.Unfortunately,however,beside Jack Ma's team,the other major beneficiaries of Alibaba's IPO will be Softbank and Yahoo.The two investors hold more than half of Alibaba's equities.Their stock prices have increased a lot since Alibaba's preparation of IPO.The other two of the Big Three in the Chinese Internet industry have similar capital structures.The biggest stakeholder of Tencent is MIH from South Africa,and that of Baidu is DFJ from the U.S.Compared with the traditional industries in China,the Internet industry is more competitive but also more fair.The fierce competition has made excellent enterprises for the industry.But it's a pity that more than half of their profits flow into the foreign investors' accounts.