Zhi Tong Cai Jing·2025-11-25 14:40Core Viewpoint - Alibaba's second fiscal quarter revenue reached 247.8 billion yuan, showing a year-on-year growth of 5%, slightly exceeding market expectations, but adjusted net profit plummeted 72% to 10.35 billion yuan, indicating significant pressure on profitability [1] Group 1: Financial Performance - Revenue for the second fiscal quarter was 247.8 billion yuan, a 5% year-on-year increase, slightly above market expectations [1] - Adjusted net profit fell 72% year-on-year to 10.35 billion yuan, highlighting a substantial decline in profitability [1] Group 2: Business Segments - The Cloud Intelligence Group emerged as a performance highlight, with revenue soaring 34% year-on-year to 39.82 billion yuan, surpassing market estimates of 37.99 billion yuan [1] - Instant retail business revenue reached 22.906 billion yuan, a 60% year-on-year increase, primarily driven by the order volume growth from the launch of "Taobao Flash Purchase" in April 2025 [1] Group 3: Investment Strategy - The company has invested approximately 120 billion yuan in AI and cloud infrastructure over the past four quarters [1] - Alibaba plans to "actively" invest in enhancing its artificial intelligence capabilities and may consider additional investments beyond the previously committed 380 billion yuan over three years, as the initial investment may appear small given customer demand [1]