Chang Jiang Shang Bao·2025-05-20 23:37Core Viewpoint - Alibaba Health reported strong financial results for the fiscal year 2025, marking the third consecutive year of revenue and net profit growth, driven by increased user engagement and innovation in its business model [1][2][4]. Financial Performance - For the fiscal year 2025, Alibaba Health achieved a revenue of 30.598 billion yuan, representing a year-on-year growth of 13.2% [2]. - The net profit for the same period was 1.432 billion yuan, showing a significant increase of 62.2% year-on-year [2]. - Adjusted net profit reached 1.95 billion yuan, up 35.6% compared to the previous year [1][2]. Historical Performance - Alibaba Health's revenue has shown a consistent upward trend, increasing from 9.596 billion yuan in fiscal year 2020 to 30.598 billion yuan in fiscal year 2025 [3]. - The net profit has fluctuated but generally trended upwards, from a loss of 6.586 million yuan in fiscal year 2020 to a profit of 1.432 billion yuan in fiscal year 2025 [3]. Business Development - The company has enhanced its one-stop healthcare service capabilities, focusing on improving user experience through better product offerings and services [4]. - The Tmall Health platform has seen steady growth, with a significant increase in annual GMV and active users, and the number of online products grew by over 91% to 133 million [4]. Investment in Innovation - Alibaba Health invested 720 million yuan in product development during fiscal year 2025, focusing on AI technology, business optimization, and digital traceability [5]. - The company’s self-operated pharmaceutical business generated over 26.124 billion yuan in revenue, reflecting a year-on-year growth of 10% [5]. Market Position and Stock Performance - Alibaba Health's stock price saw a cumulative increase of over 60% in February and March due to the recovery of the Hong Kong tech sector and interest in AI healthcare concepts, but has since declined [7]. - As of May 20, the stock price was 4.89 HKD per share, with a total market capitalization of 78.7 billion HKD [7].