Core Insights - Alibaba Group Holding Limited is a leading Chinese e-commerce company operating in various sectors including online retail, cloud computing, and artificial intelligence [1] - The company reported an earnings per share (EPS) of $0.61, below the expected $0.66, but generated revenue of approximately $34.79 billion, surpassing the estimated $34.28 billion [2] - Alibaba's stock surged following the earnings announcement due to revenue exceeding expectations, driven by strong demand in the artificial intelligence sector and growth in cloud services [3] Financial Performance - The company's cloud revenue increased by 34% year-on-year, reaching 39.8 billion yuan, surpassing expectations of 37.9 billion yuan [3][4] - Alibaba's financial metrics include a price-to-earnings (P/E) ratio of approximately 17.98 and a price-to-sales ratio of about 2.64, indicating a strong market position [5][6] - The enterprise value to sales ratio is around 2.69, reflecting total valuation in relation to revenue, and the company maintains a low debt-to-equity ratio of 0.23, indicating conservative use of debt [5][6]

你有没有发现，最近无论刷抖音还是翻小红书，甚至点开B站，总有一个名字反复跳出来——千问。11月24日，阿里宣布了千问App公测一周的成绩：下载 量破千万，并将千问与ChatGPT、Sora、DeepSeek拿来对比，称千问是史上增长最快的AI应用。 从11月17日23时起，这款App在苹果免费效率榜就占据着第二名的位置，仅居豆包之后；11月24日20时起，千问在免费总榜跃至第三名。 这期间，千问突然"无处不在"。北京商报记者登录小红书发现，首次打开发现页面，在前20个推荐里，常能翻到标注广告字样的千问"安利"文案，有的是图 文，有的是视频。有网友在评论区留言："最近全是推这个的广告。" 这一切发生在一个微妙的时间点，QuestMobile数据显示，2025年三季度接近60%的原生AI App陷入负增长，9月原生AI App的用户规模较7月增长3.4%，AI 应用插件用户规模的增幅是9.3%，且整体规模是原生AI App的2.46倍。 "种一棵树最好的时间是十年前，其次是现在。"可以看出，阿里已经决定用大模型在C（用户）端撕开口子，这背后藏着阿里从移动互联网时期就有的入口 权执念。然而，重金推广这种营销手段不是 ...

今日，阿里发布了截至 2025 年 9 月 30 日止的三个月及六个月的未经审核业绩。 超角度进行财报要点梳理： 截至 2025 年 9 月 30 日止季度 1、收入为人民币 2,477.95 亿元（348.08 亿美元），同比增长 5%。若不考虑高鑫零售和银泰的已处置 业务的收入，同口径收入同比增长将为 15%。 2、经营利润为人民币 53.65 亿元（7.54 亿美元），同比下降 85%，主要是由于经调整 EBITA 的减少所 致。经调整 EBITA（一项非公认会计准则财务指标）同比下降 78% 至人民币 90.73 亿元（12.74 亿美 元），主要归因于对即时零售、用户体验以及科技的投入，部分被阿里巴巴中国电商集团的双位数收入 增长、云业务的持续增长所带来的经营业绩改善，以及多项业务运营效率的提升所抵销。 | | | 截至9月30日止三個月 | | | | --- | --- | --- | --- | --- | | | 2024 | 2025 | | | | | 人民幣 | 人民幣 | 美元 | %同比雙動 | | | | (以百萬計,百分比及每股數據除外) | | | | 收人 | 236,50 ...

Alibaba Group Holding Limited ( BABA ) just released its earnings for the quarter ended September 30. The results beat analyst revenue estimates but missed earnings per share (EPS) estimates slightly. Going into the release, expectations were fairlyAnalyst’s Disclosure:I/we have a beneficial long position in the shares of BABA, GOOG either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than ...

"种一棵树最好的时间是十年前，其次是现在。"可以看出，阿里已经决定用大模型在C（用户）端撕开口子，这背后藏着阿里从移动互联网时期就有的入口 权执念。然而，重金推广这种营销手段不是新鲜事，也不只有千问掌握这套打法。 你有没有发现，最近无论刷抖音还是翻小红书，甚至点开B站，总有一个名字反复跳出来——千问。11月24日，阿里宣布了千问App公测一周的成绩：下载 量破千万，并将千问与ChatGPT、Sora、DeepSeek拿来对比，称千问是史上增长最快的AI应用。 从11月17日23时起，这款App在苹果免费效率榜就占据着第二名的位置，仅居豆包之后；11月24日20时起，千问在免费总榜跃至第三名。 这期间，千问突然"无处不在"。北京商报记者登录小红书发现，首次打开发现页面，在前20个推荐里，常能翻到标注广告字样的千问"安利"文案，有的是图 文，有的是视频。有网友在评论区留言："最近全是推这个的广告。" 这一切发生在一个微妙的时间点，QuestMobile数据显示，2025年三季度接近60%的原生AI App陷入负增长，9月原生AI App的用户规模较7月增长3.4%，AI 应用插件用户规模的增幅是9.3%，且整体规 ...

走进阿里研学活动 由阿里商旅主办、锦江酒店协办的"走进阿里巴巴"企业研学活动，在杭州阿里总部西溪园区C区圆满落下帷幕。为期两天的沉浸式研学，汇聚了阿里生态内 外多位行业精英，为企业管理者奉上了一场关于组织文化、数字未来与智慧商旅的深度交流。 第一篇章 沉浸阿里文化与智慧管理 开营启程｜探索数字创新之路 活动在阿里商旅总经理施沈阳先生的开幕致辞中拉开序幕。施沈阳表示："阿里商旅今天作为一个桥梁，为大家带来智慧商旅，智慧园区、智慧餐饮、阿里 文化等多元主题，阿里商旅希望作为一个链接符，把阿里巴巴集团的智慧管理经验，共享给大家，赋能企业更智慧地进行管理。" 园区探秘｜感受阿里文化脉络 参会企业代表在园区沉浸式参访中，先后走访阿里巴巴园区。阿里巴巴资深内训讲师生动讲述了阿里文化从创业初期的"独孤九剑"到如今的"六脉神剑"演变 历程，让嘉宾深切体会到企业文化在组织发展中的核心力量。 管理实战｜三板斧深度演练 讲师以深入浅出的方式解析了阿里巴巴独特的管理心法。随后的实战演练环节，更让管理者亲身体验阿里方法的落地应用，现场互动热烈，思维火花不断迸 发。 第二篇章 创新实践与生态协同 现场，次日开场，各企业代表踊跃分享首日学 ...

11月25日晚，阿里巴巴发布的2026财年第二财季（2025年第三季度）财报显示，阿里巴巴实现收入 2477.95亿元，同比增长5%，剔除已出售高鑫零售和银泰业务影响，同口径收入同比增长15%。 由于对即时零售、用户体验以及科技的投入，阿里巴巴利润下滑。经营利润53.65亿元，同比下降 85%，经调整EBITA同比下降78%至90.73亿元，净利润206.12亿元，同比下降53%，归属于普通股股东 净利润209.9亿元，同比下降52%。经营活动产生的现金流量净额100.99亿元，同比下降68%。自由现金 流也由2024年同期净流入137.35亿元，下降为本期净流出218.4亿元。 阿里巴巴CEO吴泳铭在财报电话会上表示，未来三年内不太可能出现人工智能泡沫。未来三年，人工智 能资源整体将处于供不应求的状态。 依托全栈AI能力，阿里云持续引领中国蓬勃发展的AI云市场。Omdia报告显示，2025年上半年，阿里云 在中国AI云市场的份额达35.8%，超过第二到第四名的总和。近期，NBA、万豪、中国银联、博世等已 与阿里云达成AI合作。 与此同时，阿里云的海外业务加速扩展。截至9月30日，阿里云在全球29个地区运营着 ...

Group 1: Alibaba's Q3 Financial Performance - Alibaba's Q3 revenue reached 247.8 billion yuan, a year-on-year increase of 4.8%, slightly exceeding market expectations [1] - Cloud intelligence business revenue surged by 34%, with AI products experiencing rapid growth, securing the top position in the domestic AI cloud market [1] - Adjusted net profit dropped by 72%, attributed to investments in instant retail, user experience, and technology [1] - The earnings call indicated potential for additional investments beyond the previously committed 380 billion yuan over three years [1] - Significant reduction in flash purchase investments is expected in the next quarter [1] - The company does not foresee an AI bubble in the next three years [1] Group 2: Huawei's New Product Launch - Huawei launched the Mate 80 series, starting at 4,699 yuan, featuring new technologies such as 700M emergency communication and advanced cooling systems [2] - The Mate 80 series will be the first to run on HarmonyOS 6, with over 27 million devices already using HarmonyOS 5 and 6 [2] - The Mate X7 foldable phone was also introduced, featuring A2A intelligent collaboration, starting at 12,999 yuan [3] Group 3: Nvidia's Response to Criticism - Nvidia responded to Michael Burry's criticisms regarding its revenue sources, stating that strategic investments account for a small portion of its revenue [5] - The majority of revenue comes from third-party clients rather than from Nvidia itself [5] Group 4: Singapore's AI Strategy Shift - Singapore's national AI plan has shifted from using Meta's model to adopting Alibaba's Qwen open-source architecture, marking a significant expansion of Chinese AI models' influence [6] Group 5: Xiaomi's Stock Buyback - Xiaomi announced a stock buyback of 2.5 million shares at an average price of 40.29 HKD, totaling over 100 million HKD [7] - This buyback is part of a larger trend, with Xiaomi having repurchased 24 million shares this month, amounting to over 900 million HKD [7] Group 6: Google's Market Performance - Google's stock rose 4.2% in pre-market trading, potentially pushing its market capitalization to over 4 trillion USD for the first time [8] - Recent product launches, including Gemini 3 Pro and Nano Banana Pro, have significantly impacted the AI sector [8] - Google is intensifying its competition in the AI chip market, aiming to challenge Nvidia's dominance [8] Group 7: Currency and Market Trends - The Chinese yuan has reached a one-year high, with both onshore and offshore rates surpassing 7.09 against the USD [9] - Analysts attribute the yuan's strength to its performance against non-USD currencies and ongoing signals of appreciation [9] - The fluctuation in the yuan is expected to impact companies involved in exports, raw material imports, and those with foreign currency liabilities [9]

Major Events - LeMo Technology (02539) plans to globally issue 5.5556 million shares, expected to be listed on December 3 [1] - Jinyan Gaoling New Materials (02693) starts its public offering today, introducing four cornerstone investors including Pingmei Hong Kong and Chuangli Hong Kong, with a total subscription of HKD 76.2193 million [1] - UBTECH (09880) intends to acquire a 7% stake in Wuxi Youqi for CNY 130 million [1] - Kangsheng Global (09960) announces that Wuhan Kangshengda plans to acquire a 40% stake in Huaxi Kangshengda for CNY 12.396 million [1] - China Communication Signal (03969) has won ten significant projects from September to October, with a total investment of approximately CNY 2.539 billion [1] - Lide Education (01449) issues a profit warning, expecting an annual after-tax comprehensive loss not exceeding CNY 75 million, marking a shift from profit to loss year-on-year [1] Operating Performance - NIO-SW (09866) reports third-quarter results with a gross profit of approximately CNY 3.025 billion, a year-on-year increase of 50.7% [1] - Alibaba-W (09988) releases second-quarter results, with a net profit attributable to shareholders of CNY 20.99 billion, a year-on-year decrease of 52% [1] - Zhihu-W (02390) announces third-quarter results with total revenue of CNY 659 million, accelerating its transformation into an AI-native community [1] - Chow Tai Fook (01929) publishes interim results, with profit attributable to shareholders of HKD 2.534 billion, a year-on-year increase of 0.16% [1] - Pony.ai-W (02026) reports third-quarter results with total revenue of approximately USD 25.4 million, a year-on-year increase of 72% [1]

证券时报·数据宝统计显示，11月25日港股通（包括沪市港股通及深市港股通）成交活跃股合计成交 433.17亿港元，净买入金额为65.15亿港元。 阿里巴巴-W获南向资金连续9天净买入，累计净买入金额为230.02亿港元，股价累计上涨0.64%。 （文章来源：证券时报网） 11月25日上榜的成交活跃股中，阿里巴巴-W通过港股通渠道成交金额为164.61亿港元，净买入金额为 56.16亿港元，不仅如此，该股已连续9日出现成交净买入，累计净买入金额为230.02亿港元，其间股价 上涨0.64%。（数据宝） ...