2 1 Shi Ji Jing Ji Bao Dao·2025-05-20 12:27Core Insights - Alibaba Health reported a revenue of 30.598 billion yuan for the fiscal year 2025, marking a year-on-year growth of 13.2% and a net profit of 1.432 billion yuan, up 62.2% [1][2] - The company's revenue structure is primarily driven by its pharmaceutical e-commerce business, with self-operated pharmaceutical revenue reaching 26.124 billion yuan, a 10.0% increase, while the e-commerce platform revenue surged by 54.0% to 3.588 billion yuan [1][3] - The healthcare and digital services segment saw a decline in revenue, dropping 7.6% to 0.885 billion yuan, attributed to the optimization of certain innovative businesses [3] Revenue Growth - The internet healthcare market in China reached a total market size of 376.4 billion yuan in 2023, reflecting a year-on-year growth of 21.34% [2] - Alibaba Health's revenue surpassed 30 billion yuan for the first time, and its net profit exceeded 1 billion yuan for the first time, achieving significant growth for three consecutive years [2] Competitive Landscape - The internet healthcare sector is experiencing intensified competition, with new entrants and evolving business models impacting traditional players like Alibaba Health [4][5] - The rise of instant retail channels is seen as a key driver for growth in the pharmaceutical retail sector, with predictions indicating a sales scale of 48.7 billion yuan for instant retail in 2024, a 31.3% increase from 2023 [5] - Alibaba Health's business primarily focuses on B2C and B2B, maintaining high levels of next-day delivery service while expanding its reach to 13 cities [5] Innovation and Technology - Alibaba Health is actively integrating new technologies, including AI, into its services, with initiatives like the launch of an AI-assisted traditional Chinese medicine diagnostic system [6][7] - The company has partnered with the China Anti-Cancer Association to enhance cancer prevention and treatment awareness through AI technology [7]