Alibaba Submitted "Double 11" Data Share Price Fell 3.62%

The Alibaba Alibaba Group Holding Ltd. (NYSE:BABA) Alibaba disclosed to the US Securities and Exchange Commission (referred to as SEC) the annual report of the 20-F annual report submitted by the US Securities Regulatory Commission earlier this year. The group has already begun to accept the investigation of the yen, which seeks to find out whether Alibaba is in breach of the Federal Securities Act.

On Wednesday morning, a number of media outlets announced.

The founder of Ma Yun donated tens of billions of dollars in news, and adopted the similar headlines like "secret in the financial report". However, until late in the evening, after Reuters and The Associated Press released Alibaba's acceptance of SEC's real "earnings secret", the trend of domestic media turned around and began to refocus the reports that Alibaba might violate.

According to Alibaba's documents, the Chinese electricity supplier has submitted relevant documents, including the accounting operations of Cainiao Network rookie network and the operation data of "double 11" Singles Day singles day, at the request of SEC.

Alibaba said the company voluntarily disclosed to SEC through its legal adviser. The SFC reminded that these requirements should not be deemed to have violated federal securities laws.

In the letter of Alibaba's disclosure, there is no doubt that the most important concern is its "double 11" data.

In November 2009, 11, Alibaba launched its first "double 11" promotion, which was quickly followed online two years later.

Following up, it has become the biggest online shopping festival in China and even in the world, and Alibaba's sales data of "double 11" in the past three years are also record, and it has increased year by year.

The giant claims that the "double 11" trading volume in 2015 amounted to RMB 91 billion 217 million yuan, an increase of 59.7% over the same period last year.

However, behind the rise of the "double 11" performance, the voice of questioning has also been increasing, including the fact that the data on the "double 11" which have not been counted into such items as the bill of brushes and returns have been questioned. Many of the media have reported false faking in China's "double 11" through investigation reports.

For the investigation Alibaba, SEC said that the current investigation is ongoing, "can not predict the final results."

However, under the influence of the above news, Alibaba's Alibaba Group Holding Ltd. (NYSE:BABA) Alibaba shares closed down 3% on the opening of the week, and 11:37AM dropped 3.62% to $78.18 at the end of the release time.