BABA(US:BABA) 证券时报·2025-06-23 02:40Core Viewpoint - Alibaba is strategically upgrading from an e-commerce platform to a large consumer platform by integrating Ele.me and Fliggy into its China e-commerce business group, aiming to enhance user experience and optimize business models from a consumer perspective [2]. Group 1: Strategic Changes - Ele.me and Fliggy will maintain their corporate management structure while aligning their business decisions with the unified goals of the China e-commerce business group [2]. - The integration is driven by the recent business potential demonstrated by Taobao Flash Sale, which has prompted Alibaba to increase investment and resource integration, particularly in the instant retail sector [2]. Group 2: Performance Metrics - Taobao Flash Sale launched on May 2, achieving over 40 million daily orders within a month, with non-tea drink orders accounting for 75% of the order structure [3]. - The order punctuality rate for Taobao Flash Sale reached 97%, indicating high fulfillment efficiency [3]. Group 3: Financial Insights - Alibaba's financial performance in the fourth quarter of fiscal year 2025 showed that Taobao Flash Sale exceeded expectations in both scale growth and efficiency [4]. - During the recent Tmall 618 shopping festival, user engagement and activity reached new highs, with a double-digit growth in the number of purchasing users and a 10% year-on-year increase in GMV after refunds [4]. Group 4: Competitive Advantages - Alibaba possesses significant advantages in the consumer sector, including 1 billion annual active consumers, 300,000 Tmall brand offerings, and a mature e-commerce service system [5]. - The strategic adjustment is expected to strengthen Taobao Flash Sale's growth potential through enhanced resource integration [5].