2024-05-23 20:04Financial Performance - Net income attributable to ordinary shareholders increased from RMB61,959 million in 2022 to RMB72,509 million in 2023, and further to RMB79,741 million (US$11,044 million) in 2024[393] - Non-GAAP net income attributable to ordinary shareholders for computing non-GAAP diluted earnings per share/ADS was RMB143,515 million in 2022, RMB143,991 million in 2023, and RMB158,359 million (US$21,932 million) in 2024[393] - Free cash flow increased from RMB98,874 million in 2022 to RMB171,663 million in 2023, and slightly decreased to RMB156,210 million (US$21,635 million) in 2024[395] - Total revenue increased by 8% from RMB868,687 million in fiscal year 2023 to RMB941,168 million (US$130,350 million) in fiscal year 2024[396] - Consolidated adjusted EBITA increased by 12% to RMB165,028 million (US$22,856 million) in fiscal year 2024, driven by growth in Taobao and Tmall Group, Cloud Intelligence Group, and other segments[397] Revenue by Business Segment - Revenue from Taobao and Tmall Group increased by 5% to RMB414,414 million (US$57,396 million) in fiscal year 2024, driven by a 4% increase in customer management revenue and a 6% increase in direct sales and others revenue[398] - Cloud Intelligence Group revenue increased by 3% to RMB106,374 million (US$14,733 million) in fiscal year 2024, with adjusted EBITA increasing by 49% to RMB6,121 million (US$848 million)[400][401] - Alibaba International Digital Commerce Group revenue increased by 46% to RMB102,598 million (US$14,210 million) in fiscal year 2024, with international commerce retail revenue growing by 60% to RMB81,654 million (US$11,309 million)[402] - Cainiao Smart Logistics Network Limited revenue increased by 28% to RMB99,020 million (US$13,714 million) in fiscal year 2024[396] - Local Services Group revenue increased by 19% to RMB59,802 million (US$8,282 million) in fiscal year 2024[396] Intellectual Property and R&D - The company has 14,339 issued patents and 12,036 publicly filed patent applications in China, along with 6,047 issued patents and 2,709 publicly filed patent applications globally as of March 31, 2024[495] - The company employs research and development personnel to build its technology platform and develop new online and mobile products, recruiting top talent locally and overseas[494] - The company relies on a combination of trademark, copyright, trade secret protection laws, and patent protection in China and other jurisdictions to protect its intellectual property[495] - The company has advanced training programs designed specifically for new campus hires to develop its technology platform[494] - The company rigorously controls access to its proprietary technology and information through confidentiality and invention assignment agreements with employees[495] Debt and Interest Rate Management - Approximately 35% of the company's total debt carries floating interest rates, while 65% carries fixed interest rates as of March 31, 2024[498] - After interest rate swaps, 33% of the company's total debt carries floating interest rates and 67% carries fixed interest rates as of March 31, 2024[498] - A 1% increase or decrease in interest rates would have resulted in a RMB5,473 million and RMB6,010 million (US$832 million) higher or lower profit attributable to equity owners for the years ending March 31, 2023 and 2024, respectively[499] - The company uses derivatives, such as interest rate swaps, to manage its interest rate exposure and reduce overall cost of debt[497] - The company's interest rate risk is managed with a focus on reducing overall cost of debt and exposure to changes in interest rates[497]