Guanguan.com On the evening of May 15, Alibaba Group Holdings Co., Ltd. announced its quarterly and financial annual results ending March 31, 2024.
As of the quarter ended March 31, 2024, Alibaba Group’s revenue was 221.874 billion yuan, a year-on-year increase of 7%. This performance exceeded the latest quarterly revenue of 219.832 billion yuan widely expected by institutions, a year-on-year increase of 5.58%.
Even so, Alibaba's stock price fell before the market opened. The decline once hit 8% after the opening of US stocks. It then recovered slightly but still maintained its downward trend.
In the fourth quarter of fiscal year 2024, Alibaba’s operating profit was 14.765 billion yuan, a year-on-year decrease of 3%. Adjusted ebita dropped 5% year-on-year to 23.969 billion yuan, mainly due to increased investment in e-commerce business and retention incentives granted to Cainiao employees.
's net profit attributable to ordinary shareholders was 3.270 billion yuan. Net profit was 919 million yuan, a year-on-year decrease of 96% or RMB 21.077 billion. This was mainly due to the net loss caused by the change in mark-to-market value of the equity investments in listed companies held by the group, compared with the net income in the same period last year.
Excluding equity incentive expenses, investment gains (losses), impairment of intangible assets and certain other items, the non-GAAP net profit for the quarter ended March 31, 2024 was 24.418 billion yuan, compared with the same period in 2023 of 27.375 billion yuan, a decrease of 11%. Later on the day when
’s financial report was released, Alibaba held a performance conference, attended by group management including Cai Chongxin, Wu Yongming, Xu Hong, and Jiang Fan.
Return to growth
In September 2023, Alibaba Group CEO Wu Yongming announced in an all-member letter that he has established two strategic priorities, namely user first and AI driven, and will use them as Alibaba's strategic focus and action guide for the future. .
With the release of new quarter and fiscal year results this time, Wu Yongming said, "This quarter's results show that our strategy is effective and Alibaba is returning to the growth track."
"By focusing on user experience, Taotian and international e-commerce business gmv Both achieved double-digit year-on-year growth. We are also pleased to see the accelerated growth of customers for AI products and related cloud computing revenue. We will continue to firmly implement our strategic focus and seize growth opportunities in the future.”
data shows that in 2024, we will continue to grow. In the first quarter, Taotian Group's online GMV and order volume achieved double-digit growth year-on-year, driven by strong growth in the number of buyers and frequency of purchases. In this quarter, the number of 88vip members increased by double digits year-on-year, exceeding 35 million.
In the quarter ending March 31, 2024, Taotian Group’s revenue increased by 4% year-on-year to 93.216 billion yuan. Among them, customer management revenue increased by 5% year-on-year, mainly driven by strong revenue growth from search and recommendations.
’s international e-commerce business (aidc) revenue increased by 45% year-on-year to 27.448 billion yuan, and the overall orders of its retail platforms increased by 20% year-on-year. The strong performance was brought by the growth of aidc’s cross-border business, especially the AliExpress choice business. increase.
Alibaba said it will invest more resources in cross-border e-commerce and reiterate its customer value proposition of price power and timely delivery to consumers around the world.
Since 2018, Alibaba has acquired and held a majority stake in Trendyol, Turkey’s first unicorn company, several times, and has used it as an important carrier to develop overseas business. As the largest and fastest-growing mobile e-commerce platform in Turkey, the Middle East and North Africa,
's founder Diamont Mutlu has also publicly stated that "I hope trendyol can become the 'Alibaba of Turkey'."
in the latest quarter , trendyol continues to record double-digit order growth. While maintaining its position as Turkey's leading e-commerce company, trendyol further expands its cross-border business in the Gulf region.
’s financial report shows, “Since the launch of trendyol’s cross-border business, we have increased investment in consumer experience, expanded product categories and provided fast and reliable logistics services. Therefore, this quarter, trendyol has become the most downloaded e-commerce platform in the Gulf region. One of the commercial apps. "
" The past year has been a year of self-reform for Alibaba. The adjustment of business and organization has shown results, and we have made full predictions and preparations for the new fiscal year. , Alibaba will resolutely continue to invest around the user-first, AI-driven strategy. We are confident in the company's long-term and healthy development."The management said at the results meeting.
For the financial year ending March 31, 2024, Alibaba Group's revenue was 941.168 billion yuan, a year-on-year increase of 8%.
Operating profit was 113.350 billion yuan, a year-on-year increase of 13%. Year-on-year growth Mainly due to an increase in adjusted EBIT and a decrease in equity-based compensation expenses, partially offset by an increase in impairment of intangible assets and goodwill.
In fiscal 2024, the impairment of intangible assets was mainly related to Sun Art Retail, while the impairment of goodwill. Mainly related to Youku.
Without taking into account equity incentive expenses, intangible assets and goodwill impairment, and certain other items, adjusted ebita increased by 12% year-on-year to 165.028 billion yuan. "Alibaba Group performed strongly this quarter, with revenue growing year-on-year. 7%, our heavy investment in strategic priority businesses has begun to bear fruit, and we are confident about the business prospects. We will continue to fulfill our commitment to improve shareholder returns. Xu Hong, chief financial officer of Alibaba Group, said: "In fiscal year 2024, we have repurchased US$12.5 billion in shares, and the board of directors has approved the distribution of dividends of US$4 billion in fiscal year 2024." "
It is reported that Alibaba's board of directors has approved the distribution of dividends for fiscal year 2024, including annual regular cash dividends and one-time special cash dividends, with a total dividend payment of approximately US$4 billion. At the same time, Alibaba continues to implement its share repurchase plan and continue to enhance shareholder Return.
all in ai
At the end of March last year, Zhang Yong issued an all-member letter announcing the launch of the "1+6+n" organizational reform, creating Cloud Intelligence Group, Taotian Group, Local Life Group, and Ali International Digital under the Alibaba Group. There are six major business groups and multiple business companies, including Commercial Group, Cainiao Group, and Da Entertainment Group.
Except for Taotian Group, which will continue to be wholly owned by Alibaba in the future, each of the other business groups or separate business companies will be able to. Flexibly raise external funds and seek separate listings.
About two months later, when Alibaba Group announced its 2023 fiscal year Q4 and full-year financial results, it also announced the specific listing paths of each business group.
Among them, Cloud Intelligence Group. By distributing dividends to shareholders, it will achieve a complete spin-off and seek to become an independent listed company. At that time, Zhang Yong set the listing period in the next 12 months during the earnings call. He said that looking back at Alibaba. The fourteen-year development history of cloud, and the broad future of cloud computing brought about by the rapid development of AI large models at this moment, I see the huge market potential, and I am full of confidence in the future development of Alibaba Cloud.
However, things went against everyone's expectations. In Alibaba's second quarter performance report for fiscal year 2024, announced six months later, the spin-off and listing plan was officially terminated.
Regarding the specific reasons, Alibaba Group stated that the United States has recently expanded restrictions on the export of advanced computing chips, which has affected cloud intelligence. The prospects of the group have brought uncertainty. The complete spin-off of Cloud Intelligence Group may not increase shareholder value as originally envisaged. Therefore, it has been decided not to promote the complete spin-off of Cloud Intelligence Group, but will face the uncertain environment and focus on Establish a model for the sustainable growth of the Cloud Intelligence Group.
As for future plans, Cai Chongxin said, “Now we no longer use financial engineering, but hope to show the value of the cloud through investment, especially in the cloud computing business driven by AI under the new situation. More investment support is needed. "The latest financial report released by
shows that for the quarter ended March 31, 2024, Alibaba Cloud Intelligence Group's AI-related revenue growth accelerated, and with continued three-digit year-on-year growth, it became one of the highlights of this performance meeting. 1.
In the fourth quarter of fiscal year 2024, Alibaba Cloud Intelligence Group’s revenue was 25.595 billion yuan, a year-on-year increase of 3%. The management mentioned at the performance meeting that judging from the current revenue growth, the overall revenue growth is mainly from the cloud business. Driven by new AI products.
AI-related revenue comes from basic model companies, Internet companies, and customers in different industries such as financial services and automobiles.
Alibaba believes that this round of AI-driven technological innovation is in the early stage of the industry cycle.
“After the beginning of 2024, we clearly feel that customer demand for AI is growing rapidly. This has also significantly driven the growth in demand for traditional cloud computing, including general computing, storage, and big data.Therefore, we are actively investing in the product matrix of cloud computing, especially AI infrastructure, to meet the huge industry opportunities. "
With the gradual reduction of project-based contract revenue with lower profit margins, overall revenue (excluding revenue from Alibaba's consolidated subsidiaries) declined slightly year-on-year. Alibaba expects strong revenue growth from public cloud and AI-related products, It will offset the impact of the decline in project-based contract revenue.
"Based on the strong layout of AI infrastructure with a leading product portfolio and an active industry partner strategy, we are confident that Alibaba Cloud's commercial revenue, that is, excluding the group. Alibaba Cloud's revenue from domestic customers can return to double-digit growth in the second half of fiscal year 2025. "
In addition, in March this year, Alibaba withdrew Cainiao's IPO application. Alibaba said that as the core infrastructure of Alibaba's e-commerce, it hopes that Cainiao can better strengthen collaboration with domestic and foreign businesses. At the same time, the group will continue to support Cainiao Expand the construction of the global logistics network.
Data shows that in fiscal year 2024, Cainiao Group’s revenue was 99.02 billion yuan, an increase of 28% compared with fiscal year 2023, mainly contributed by the increase in revenue from cross-border logistics fulfillment services.
In fiscal year 2024, the local revenue increased by 28%. Life Group’s revenue was 9.812 billion yuan, an increase of 19% compared with 50.249 billion yuan in fiscal year 2023, mainly due to the increase in orders from Ele.me and Amap.
