American depositary receipts (ADRs) of Alibaba Group Holdings (BABA) tumbled over 9% in early trading Thursday as the Chinese e-commerce giant said that it was canceling its plan to spin off its cloud computing unit, and earnings came ღin lower than expected.

Alibaba indicated that it ended the move to make its Cloud Intelligence Group a separate company because of 澳洲幸运5开奖号码历史查询:recent restrictions imposed by the Biden administration on U.S. exports of advanced computer chips and equipment to China.

Alibaba explained the export limits “created uncertainties” for the division, and its spi🎀noff “may not achieve the intended effect of shareholder value enhancement.”

The company also released its September quarterly results, and 澳洲幸运5开奖号码历史查询:earnings per share (EPS) o♉f 1.95 Chinese yuan ($0.27꧋) missed estimates. Revenue rose 9% from a year ago to 224.79 million yuan ($30.81 million), exceeding forecasts.

Alibaba also announced it would spend $2.5 billion for its first annual dividend෴, giving investors $1 per ADR, and $0.125 𝔉per ordinary share. The payment would be made at the close of business Dec. 21.

With Thursday's losses, ADRs of Alibaba were down more than 13% year-to-date.