Alibaba Group Holding Ltd.’s revenue grew at its slowest pace on record for a September quarter, underscoring how the e-commerce giant’s post-pandemic rebound is starting to plateau.

Asia’s largest corporation reported a 30% rise in sales in the September quarter, in line with expectations but down a tad from the previous three months. That did little to reassure investors worried about the tightening regulatory scrutiny that forced Jack Ma’s Ant Group Co. to call off its US$35 billion ($47.39 billion) IPO. Chief Executive Officer Daniel Zhang would only say it’s evaluating the impact on its business from more stringent rules governing its 32%-owned sister company.

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