透视半年报｜闪购带动淘宝月活买家增25%，阿里加码AI和消费

Core Insights - Alibaba Group reported a 2% year-on-year increase in total revenue for Q1 FY2026, reaching 247.65 billion yuan (approximately 34.57 billion USD), with a 10% growth rate when excluding disposed businesses [1] - The company is focusing on consumer and AI + cloud strategies, with significant growth in instant retail and a 25% year-on-year increase in monthly active consumers on the Taobao app [2] - Net profit for the quarter was 43.12 billion yuan (approximately 6.02 billion USD), representing a 76% year-on-year increase, driven by positive changes in equity investments and gains from the disposal of the Trendyol local services business [3] Financial Performance - Operating profit for the quarter was 34.99 billion yuan (approximately 4.88 billion USD), with a decrease in adjusted EBITA by 14% to 38.84 billion yuan (approximately 5.42 billion USD) [3] - Alibaba's China e-commerce group revenue reached 140.07 billion yuan, showing a 10% year-on-year growth [3] - The company announced a capital expenditure of 38.6 billion yuan for AI + cloud, a 220% increase year-on-year, with cloud revenue growing by 26%, marking the highest growth rate in three years [6] Business Strategy and Developments - Alibaba completed the integration of its businesses into the "Alibaba China E-commerce Group," simplifying its financial reporting structure [4] - The company reported 300 million monthly active buyers in its instant retail segment, attributing this growth to significant investments and synergies from platform integration [4] - The international digital commerce group (AIDC) saw a 19% year-on-year revenue increase to 34.74 billion yuan (approximately 4.85 billion USD), with cross-border business contributing significantly [7] Shareholder Actions - Alibaba repurchased 56 million ordinary shares for a total of 815 million USD, with 19.3 billion USD remaining under its authorized buyback plan, which is valid until March 2027 [7]