Core Viewpoint - Alibaba Group reported strong financial results for Q2 of FY2026, with revenue reaching 247.795 billion RMB, exceeding market expectations and showing a 15% year-over-year growth when excluding divested businesses [1][2]. Group 1: Financial Performance - Alibaba's total revenue for the quarter was 247.795 billion RMB, with a year-over-year increase of 15% after excluding the impact of sold businesses [1]. - The e-commerce segment, including customer management and instant retail, showed significant growth, with instant retail revenue increasing by 60% [5][6]. - Alibaba Cloud's revenue reached 398.24 billion RMB, marking a 34% year-over-year growth, the highest growth rate recorded [1][4]. Group 2: Strategic Investments - The company continues to invest heavily in AI and cloud technologies, which are expected to drive long-term growth [1][2]. - Alibaba's CEO emphasized the importance of building AI technology and infrastructure platforms, as well as integrating life services with e-commerce [2][4]. Group 3: Business Segments - The customer management revenue for Alibaba's e-commerce group grew by 10%, while the overall e-commerce segment revenue increased by 16% year-over-year [2][6]. - The instant retail business has shown remarkable growth, with significant improvements in user retention and average order value, contributing to the rapid increase in monthly active users on the Taobao app [5][6]. - Alibaba Cloud has maintained a leading position in the AI cloud market, with a reported market share of 35.8% in the first half of 2025 [4]. Group 4: Operational Efficiency - Multiple business units within Alibaba, including Hema, Amap, and Alibaba Health, have shown year-over-year revenue growth, indicating improved operational efficiency [7]. - The launch of the Qianwen App has also contributed to the company's growth strategy, with over 10 million downloads within a week of its public testing [4].

财报显示，阿里对AI+云、消费两大战略领域的投入持续收获成效，核心业务强劲增长。其中，阿里云季度收入达 398.24亿元，同比增长34%，增速再创新高；大消费平台协同效应显著，即时零售带动淘宝App月活跃消费者快速 增长。基于对未来的发展信心，阿里将在两大战略方向上持续投入，驱动长期增长。 11月25日，阿里巴巴集团发布2026财年第二季度财报。报告期内，集团收入2477.95亿元，超市场预期，剔除已出 售业务影响，收入同比增长15%。 | | | 截至9月30日止三個月 | | | | --- | --- | --- | --- | --- | | | 2024 | 2025 | | | | | 人民幣 | 人民幣 | 美元 | %同比變動 | | | | (以百萬計,百分比除外) | | | | 阿里巴巴中國電商集團: | | | | | | 電商業務 | | | | | | 客戶管理 | 71.667 | 78.927 | 11.087 | 10% | | 一直營、物流及其他(2) | 22,799 | 24,006 | 3,372 | 5% | | | 94,466 | 102.933 | 14.45 ...

本周一，阿里巴巴宣布，旗下"千问"App 公测一周，下载量即突破1000万。而这一增长速度已经超越ChatGPT、Sora、DeepSeek，成为截至目前 增长最快的AI应用。 此外，谷歌盘前大涨超4.2%，若开盘保持该涨幅，总市值将首次突破4万亿美元，成为第四家总市值突破过4万亿美元的上市公司。英伟达美股盘 前跌超4%，消息面上，据智通财经报道，谷歌人工智能芯片TPU获Meta洽购，价值数十亿美元。 （声明：文章内容仅供参考，不构成投资建议。投资者据此操作，风险自担。） 11月25日傍晚，阿里美股盘前一度大涨超4%。 消息面上，阿里巴巴公布了2026财年第二季度财报。财报显示，阿里巴巴第二季度营收2,478.0亿元人民币，预估2,452亿元人民币；第二季度调整 后每ADS收益4.36元人民币，预估6.34元人民币；第二季度中国电商事业集团收入1,325.8亿元人民币；调整后净利润103.5亿元人民币，预估168亿 元人民币。财报还显示，阿里即时零售业务收入达到229.06亿元人民币，较上年同期的143.21亿元增长60%。 | | | 截至9月30日正三個月 | | | | --- | --- | --- ...

Core Insights - Alibaba Group reported a 34% year-on-year increase in cloud revenue for Q2 of fiscal year 2026, reaching a new high [1] - CEO Wu Yongming emphasized the company's focus on building AI technology and infrastructure platforms, as well as a large consumer platform that integrates lifestyle services and e-commerce [1] - The strong demand for AI has accelerated revenue growth in the cloud intelligence group, with AI-related product revenue achieving triple-digit growth for the ninth consecutive quarter [1] Financial Performance - Cloud revenue growth of 34% year-on-year indicates robust performance in the cloud segment [1] - The expansion of instant retail and significant improvement in unit economics contributed to the rapid growth in monthly active consumers on the Taobao app [1]

| | | 截至9月30日止三個月 | | | | --- | --- | --- | --- | --- | | | 2024 | 2025 | | | | | 人民幣 | 人民幣 | 美元 | %同比變動 | | | | (以百萬計,百分比及每股數據除外) | | | | 收入 | 236,503 | 247,795 | 34.808 | 5% | | 經營利潤 | 35.246 | 5.365 | 754 | (85)%(2) | | 經營利潤率 | 15% | 2% | | | | 經調整 EBITDA(1) | 47,327 | 17,256 | 2.424 | (64)%(2) | | 經調整 EBITDA 利潤率(1) | 20% | 7% | | | | 經調整 EBITA(1) | 40.561 | 9.073 | 1.274 | (78)%(2) | | 經調整 EBITA 利潤率(1) | 17% | 4% | | | | 淨利潤 | 43.547 | 20.612 | 2.895 | (53)%(2) | | 歸屬於普通股股東的淨利潤 | 43.874 | 20.990 | 2.948 ...

Core Insights - The Singapore National Artificial Intelligence Strategy (AISG) is undergoing a significant strategic shift by abandoning the Meta model in favor of Alibaba's Qwen open-source architecture, indicating a key expansion of Chinese open-source AI models on the global stage [1] Group 1 - AISG announced the launch of the "Qwen-SEA-LION-v4" model on November 25, which quickly secured the top position on an open-source leaderboard measuring Southeast Asian language capabilities [1] - The transition aims to address a long-standing issue where previous open-source models, represented by Meta's Llama series, performed poorly in handling regional languages such as Indonesian, Thai, and Malay, severely limiting the development efficiency and performance of localized AI applications [1]

Core Insights - Alibaba Group reported Q2 FY2026 revenue of 247.795 billion yuan, exceeding market expectations, with a 15% year-over-year growth after excluding divested businesses [1] - The company continues to invest in AI and cloud, as well as consumer sectors, driving long-term growth [1] - Alibaba Cloud's revenue accelerated with a 34% year-over-year increase, marking a new high, while AI-related product revenue has seen triple-digit growth for nine consecutive quarters [1] Group 1: Financial Performance - Alibaba's revenue for Q2 FY2026 reached 247.795 billion yuan, surpassing market expectations [1] - Excluding divested businesses, revenue grew by 15% year-over-year [1] - The company is confident in its future growth and plans to maintain investments in key strategic areas [1] Group 2: AI and Cloud Development - Alibaba Cloud's revenue grew by 34% year-over-year, driven by strong AI demand and public cloud revenue growth [2] - The company launched a full-stack AI upgrade, covering various AI model fields, with its flagship model Qwen3-Max ranking among the global leaders [2] - Alibaba Cloud is projected to capture 35.8% of the Chinese AI cloud market by mid-2025, surpassing the combined share of its next three competitors [2] Group 3: Consumer Business Growth - E-commerce customer management revenue increased by 10% year-over-year, while instant retail business revenue surged by 60% [3] - The average order value improved, and user retention rates increased, contributing to the growth of monthly active consumers on the Taobao app [3] - Approximately 3,500 Tmall brands have integrated their offline stores into instant retail, enhancing the collaborative effect across Alibaba's ecosystem [3]

Alibaba reported stronger-than-expected revenue for its fiscal second quarter, driven by accelerating growth in its cloud computing division and rising demand for artificial intelligence services. The... ...

Core Insights - The company experienced a 53% decline in net profit due to intense competition in the food-delivery sector while maintaining steady revenue growth as it focuses on consumer AI [1] Financial Performance - Net profit decreased by 53% amid fierce competition [1] - Revenue growth remained steady despite the profit decline [1] Strategic Focus - The company is targeting consumer AI as a key area for future growth [1]

Core Insights - Alibaba Group reported Q2 FY2026 revenue of 247.795 billion yuan, with a 15% year-on-year growth after excluding the impact of divested businesses [2] - The company continues to invest in AI and cloud services, with Alibaba Cloud's quarterly revenue accelerating by 34% year-on-year, reaching a new high [2] - The CEO emphasized the focus on building AI technology and infrastructure, as well as a large consumer platform that integrates life services and e-commerce [2] Financial Performance - Alibaba Cloud's revenue growth is driven by AI demand and public cloud revenue, achieving three-digit year-on-year growth in AI-related products for nine consecutive quarters [2] - E-commerce customer management revenue (CMR) grew by 10% year-on-year, while instant retail business revenue surged by 60% [3] - The average order value has increased, and user retention rates have improved, contributing to the growth of monthly active consumers on the Taobao App [3] Strategic Developments - The launch of the Qianwen App aims to strengthen Alibaba's presence in both AI to B and to C markets, with over 10 million downloads in its first week of public testing [3] - Approximately 3,500 Tmall brands have integrated their offline stores into instant retail, leading to significant growth during the Double 11 shopping festival [4] - The introduction of the "Gaode Street Ranking" by Gaode aims to create a new offline service credit system based on user behavior and credit [4] Market Position - According to Omdia, Alibaba Cloud held a 35.8% market share in China's AI cloud market as of the first half of 2025, surpassing the combined share of the second to fourth competitors [2] - Recent partnerships with NBA, Marriott, China UnionPay, and Bosch highlight Alibaba Cloud's growing influence in the AI collaboration space [2]