HONG KONG -- Alibaba Group Holding's cloud services business will turn a profit for the first time this year thanks to work-from-home demand driven by the coronavirus pandemic, according to Daniel Zhang, the group's chairman and chief executive.
He made the announcement during an investor briefing on Wednesday, hours ahead of Alibaba's annual general meeting where Jack Ma, Zhang's predecessor, will officially exit the board of the company he started in a small Hangzhou apartment in 1999.
