BABA-W (09988) released its annual performance report, with revenue of 1,0236.70 billion yuan, a year-on-year increase of 3%.

BABA-W (09988) released its quarterly results ending in March 2026. The group achieved revenue of 243.38 billion yuan, a 3% year-on-year increase. Excluding the disposed businesses of SUNART RETAIL and Yintai, the revenue growth on the same basis was 11%. Net profit attributable to ordinary shareholders was 25.476 billion yuan, with a 96% year-on-year increase. Diluted earnings per American depositary share were 10.36 yuan. As of the end of the financial year ending March 31, 2026, the group's revenue was 1.02367 trillion yuan, a 3% increase year-on-year. Excluding the disposed businesses of SUNART RETAIL and Yintai, the revenue growth on the same basis was 11%. Net profit attributable to ordinary shareholders was 105.904 billion yuan, with a 19% year-on-year decrease. Diluted earnings per American depositary share were 44.00 yuan. Alibaba Group CEO Yong Ming Wu said, "Alibaba's full-stack AI technology investment has officially entered a positive cycle of scale commercial return from the initial incubation stage. This quarter, we achieved accelerated breakthroughs in models, cloud infrastructure, and applications at all layers. External commercialization revenue growth reached 40%, with AI-related revenue accounting for 30% of total revenue. We see great potential in AI applications - we have launched multiple enterprise-level intelligent agents covering office programming and other scenarios, and the consumer app Qian Wen has fully integrated e-commerce service capabilities, further deepening the synergy between AI applications and the consumer ecosystem." Alibaba Group CFO Hong Xu said, "Our strategic investments continue to business growth. Cloud Intelligence Group revenue growth continues to accelerate, with AI-related product revenue achieving triple-digit growth for the eleventh consecutive quarter. Customer management revenue in Chinese e-commerce, on the same basis, grew by 8% in the quarter, reflecting steady improvements in unit economics and average order value. Looking ahead, we are confident in our business and will continue to invest in AI + cloud to strengthen our strategic advantage." Consumer Business Alibaba China E-commerce Group We are actively integrating AI capabilities into e-commerce applications to enhance the experience for consumers and merchants. On the consumer side, we have integrated Taobao and Tmall's e-commerce business with the Qian Wen app to expand Qian Wen's user reach and provide Tmall consumers with an AI-driven experience. Additionally, the Taobao app has launched the Qian Wen AI shopping assistant, which provides end-to-end services for shopping, including product recommendations, order management, and after-sales support. On the merchant side, we have introduced the enterprise-level AI native intelligent agent "Wukong" to improve operational efficiency. To help merchants expand their business and increase their investment on our platform, we have updated the marketing development plan for select merchants starting this quarter. The plan ties subsidies for these merchants to their platform investment, which will be treated as a credit against customer management revenue instead of being accounted for as sales and market expenses. As a result, customer management revenue increased by 1% year-on-year in the quarter. Excluding the impact of the plan, customer management revenue growth on the same basis was 8%. The instant retail business continues to focus on scale while improving unit economics, and further expanding high average order value categories. Unit economics in the instant retail business improved further this quarter, with an increase in average order value, driven by optimizations in the order structure. 88VIP members are our highest-spending consumer group, with a year-on-year double-digit growth surpassing 62 million members. To enhance the value proposition for our most important customers, we will continue to focus on improving retention rates for 88VIP members. Alibaba International Digital Commerce Group (AIDC) This quarter, AIDC reduced its losses significantly year-on-year, approaching breakeven, mainly due to logistics optimization and operational efficiency improvements. The unit economics of the AliExpress Choice business continued to improve significantly. We are leveraging the supply chain advantages of the Alibaba ecosystem to bring a rich and diverse product offering. The AliExpress "Brand+" program accelerated brand onboarding, with the quarterly active buyer penetration rate exceeding 30%. Our international wholesale platform Alibaba.com continues to drive adoption of its AI-powered tools by merchants. Building on the existing AI procurement assistant Accio, we launched the intelligent business platform Accio Work for global small and medium-sized enterprises, covering the entire operational lifecycle to significantly reduce barriers to entry for cross-border trade and improve operational efficiency. AI + Cloud Business Cloud Intelligence Group In the quarter ending on March 31, 2026, Cloud Intelligence Group revenue was 41.626 billion yuan (6.035 billion US dollars), a 38% year-on-year increase, with external commercialization revenue accelerating to 40%. This growth was mainly driven by the growth of public cloud business revenue, including the increased adoption of AI-related products. AI-related product revenue remained strong this quarter, reaching 8.971 billion yuan, achieving triple-digit growth for the eleventh consecutive quarter. Alibaba Cloud continues to drive more customers to adopt our comprehensive AI + cloud products and services, including high-performance networks, distributed storage, cloud operating systems, as well as model training and inference services. With our comprehensive full-stack AI capabilities, we are leading the Chinese AI cloud market, covering AI models, AI cloud infrastructure, and orchestration software for managing heterogeneous chip clusters (including self-developed dedicated inference chips). This quarter, we focused on advancing the Strategy as a Service (MaaS) platform. With the rapid growth in demand for MaaS, we customized a diverse product portfolio on the Baolian platform for all types of users, from individual developers to large enterprises. This includes more top-notch model matrices, enterprise solutions with flexible token schemes, and a growing portfolio of intelligent agents covering different industries. As a result, the client base on the Baolian platform grew eight times year-on-year. Models We continue to expand the boundaries of AI capabilities through deep innovation, and recently made significant progress in intelligent models with the launch of a series of new large language and multimodal models. In March, we released Qwen3.6-Plus, which achieved significant overall performance improvements, particularly in programming and intelligent programming, setting industry benchmarks in front-end web development and complex warehouse-level tasks. Qwen3.6-Plus also has enhanced multimodal perception and inference capabilities, supporting up to 1 million tokens in native context windows and further improving stability and credibility. In addition to the Qian Wen model family, we continue to enrich our dedicated model layout, including the HappyOyster world model for real-time creation and interaction, and the HappyHorse multimodal model for video generation, both of which are currently in beta testing. Our board of directors has approved the distribution of regular cash dividends for the 2026 fiscal year to registered ordinary shareholders and American depositary shareholders as of the close of business on June 11, 2026, in the amounts of $0.13125 per ordinary share or $1.05 per American depositary share, payable in US dollars. The total dividend amount is approximately $2.5 billion.