BABA(US:BABA) 券商中国·2025-05-15 11:59Core Viewpoint - Alibaba Group's financial performance for the fourth quarter and full year of fiscal year 2025 shows a revenue increase driven by AI and cloud services, with a strong focus on shareholder returns through stock buybacks and dividends [1][2][5]. Financial Performance - For the fourth quarter of fiscal year 2025, Alibaba reported revenue of 236.45 billion RMB, a year-on-year increase of 7% [1]. - Alibaba Cloud's revenue growth accelerated to 18% in the fourth quarter, with annual revenue reaching 118 billion RMB, reflecting an 11% year-on-year increase [3]. AI and Cloud Business - The AI and cloud business is becoming a new growth engine for Alibaba, with AI-related product revenue maintaining triple-digit year-on-year growth for seven consecutive quarters [3]. - The company 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 [3]. Other Business Segments - In the fourth quarter, Taobao Group's customer management revenue grew by 12% to 71.08 billion RMB, while international digital commerce revenue increased by 22% to 33.58 billion RMB [4]. - Cainiao Group's revenue decreased by 12% to 21.57 billion RMB, reflecting further integration of logistics services within the e-commerce business [4]. - Local life services revenue grew by 10% to 16.13 billion RMB, with overall losses narrowing year-on-year [4]. - The entertainment segment reported revenue of 5.55 billion RMB, a 12% increase driven by strong performance in film and advertising [4]. Shareholder Returns - Alibaba's CFO announced a commitment to enhancing shareholder returns, with a total of 11.97 billion shares repurchased for 11.9 billion USD in fiscal year 2025, resulting in a net reduction of 5.1% in outstanding shares [2][5]. - The board approved a total dividend distribution of 4.6 billion USD for fiscal year 2025, with a regular and special dividend amounting to 0.25 USD per share [5].