双语新闻：阿里巴巴招股书未解之疑

2014-05-13 11:46:13来源：可可英语

　　Though skepticism has abated since last year, many U.S.-listed Chinese companies still face investor worries about transparency. The U.S. Securities and Exchange Commission has raised questions about the accounting of more than 130 such companies in recent years. The Chinese affiliates of the Big Four accounting firms are appealing a U.S. court ruling that suspended them from auditing U.S.-traded clients for six months. The ruling was part of a broader dispute between Washington and Beijing about U.S. regulators' access to documents related to Chinese audit clients.

　　虽然公众的疑虑自去年以来有所减轻，但是许多在美上市的中国公司仍然面临投资者对于公司透明度的担忧。美国证券交易委员会(U.S. Securities and Exchange Commission, 简称：SEC) 近年来对130多家中国公司的会计问题提出了质疑。四大会计师事务所的中国分支公司正针对美国一法院的裁决提起上诉，该法院裁决这些分支公司暂停在美上市企业审计业务六个月时间。美中之间在美国监管机构获得中国审计客户相关文件方面存在广泛争议，该裁决属于争议的一部分。

　　Alibaba's structure also raises the bar on disclosure, some investors say. Though company founder Jack Ma owns fewer shares than major shareholders SoftBank Corp. or Yahoo Inc., he and a group of 28 partners can nominate a majority of directors. The filing doesn't name the partners, who it said are members of the management of Alibaba or related companies.

　　一些投资者称，阿里巴巴的结构也提高了披露门槛。虽然公司创始人马云(Jack Ma)的持股比例低于主要股东软银股份有限公司(SoftBank Co.)或雅虎公司(Yahoo Inc.)，然而他和28位合伙人有权提名多数董事。文件没有披露这些合伙人的名字，只表示他们是公司管理层或来自关联及下属公司。

　　Company executives also control Alipay, which it describes as important to its operations, but Alibaba itself doesn't own a stake. The filing didn't disclose Alipay's financial results.

　　公司管理团队也控制着支付宝，但阿里巴巴本身并不持有股权;阿里巴巴认为支付宝对公司业务非常重要。文件没有披露支付宝的财务业绩。

　　The filing said the system is designed to preserve 'the culture shaped by [Alibaba] founders while at the same time accounting for the fact that founders will inevitably retire from the company.'

　　文件称，合伙人制度是为了保持阿里巴巴创始人形成的文化，同时也考虑到创始人最终不可避免要退休的事实。

　　The scant details raise transparency concerns because Alibaba's structure 'still concentrates power into a few hands,' said Tony Hsu, a Shanghai-based portfolio manager for U.S. hedge fund Dalton Investments. He said he likes its long-term prospects, but added, 'it's a little surprising for a business of this scale not to provide more granular data.'

　　美国对冲基金Dalton Investments驻上海的投资组合经理Tony Hsu表示，具体内容缺乏引发了人们对公司透明度的担忧，因为阿里巴巴的管理权仍然集中在少数人手中。他说，他看好公司的长期前景，但他补充说，对一个如此规模的公司而言，没有提供更具体数据有些令人意外。

　　Alibaba's main businesses are its Chinese online shopping sites, Taobao and Tmall. But the company didn't break out individual performance figures for the two, instead lumping them with a third, smaller platform in a business category it calls 'China commerce' that makes up more than four-fifths of its revenue. For the nine months ended Dec. 31, the combined business posted revenue of 35.17 billion yuan ($5.64 billion), up 60% from the year-earlier period.

　　阿里巴巴的主要业务是两个购物网站：淘宝和天猫。但该公司并未分开列明这两个网站的业绩数据，而是将这两家网站的业绩与第三个更小的平台一道放在被该公司称为“中国商务”的业务类别中，该类别占该公司总收入逾五分之四。截至2013年12月31日的9个月中，该合并业务实现收入人民币351.7亿元(合56.4亿美元)，较上年同期增长60%。

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