BABA(US:BABA) 华尔街见闻·2025-05-15 11:04Core Viewpoint - Alibaba Group reported strong financial performance for Q4 and the full fiscal year 2025, with a focus on core business growth and shareholder returns [1][5]. Financial Data Summary - Q4 adjusted earnings per ADS were 12.52 RMB, up from 10.14 RMB year-on-year, slightly below the expected 12.71 RMB [3]. - Q4 revenue reached 236.45 billion RMB, a 7% year-on-year increase, but below market expectations of 237.91 billion RMB [7]. - Full-year revenue was 996.35 billion RMB, reflecting a 6% year-on-year growth [7]. - Q4 net profit attributable to ordinary shareholders was 12.38 billion RMB, with a significant year-on-year increase of 1203% [7]. - Full-year net profit was 125.98 billion RMB, up 77% year-on-year [7]. Core Business Progress - Taobao Group's revenue grew by 9% year-on-year, with customer management revenue increasing by 12% due to improved take rates [9]. - Alibaba Cloud revenue increased by 18% year-on-year to 30.13 billion RMB, driven by strong AI product adoption [10][11]. - International Digital Commerce Group revenue rose by 24% to 27.60 billion RMB, supported by growth from AliExpress and Trendyol [7]. - Local Services Group revenue grew by 10% to 16.13 billion RMB, driven by increased orders from Ele.me and Gaode [16]. - Cainiao Group's revenue decreased by 12% to 21.57 billion RMB, attributed to the integration of logistics services [17]. Shareholder Returns - In fiscal year 2025, Alibaba repurchased shares worth 11.9 billion USD, reducing the number of outstanding shares by 5.1% [5]. - The board approved a total dividend of 4.6 billion USD, including annual and special dividends [5]. Future Outlook - Alibaba plans to invest over 380 billion RMB in cloud and AI hardware infrastructure over the next three years, exceeding the total investment of the past decade [14].