Alibaba Group Holding Ltd has more than doubled its profit in the last year despite shares losing more than a third of their value since peaking. The deceleration of online transactions in China has been blamed for the weak stock performance, however CEO Jack Ma said a focus on international customers will ensure stability.

“Alibaba is stuck in this box where value investors like it, but the incremental investors need to find some growth, whether it’s accelerating revenue or improvements in gross merchandise volume,” said Chi Tsang, analyst, HSBC Securities Asia Ltd.

CAPTION: Jack Ma, CEO, Alibaba Group Holding Ltd