BABA(US:BABA) 券商中国·2025-06-26 13:33Core Viewpoint - Alibaba Group's 2025 fiscal year report highlights the effectiveness of its "user-first, AI-driven" strategy, showcasing significant financial growth and a focus on AI and cloud services as new growth engines [1][2]. Financial Performance - In the 2025 fiscal year, Alibaba's revenue reached 996.347 billion yuan, with net profit increasing by 77% to 125.976 billion yuan [2]. - The company achieved double-digit growth in cloud revenue, with AI-related product revenue experiencing triple-digit year-on-year growth for seven consecutive quarters [4]. Strategic Focus - Alibaba's leadership emphasizes a commitment to innovation and entrepreneurship, positioning AI as a core driver of future business growth [3][7]. - The company plans to invest over 380 billion yuan in AI and cloud infrastructure over the next three years, surpassing the total investment of the past decade [3]. AI and Cloud Development - Alibaba has released and open-sourced over 200 AI models, with total downloads exceeding 300 million, establishing a significant presence in the global AI model landscape [3][4]. - The company is accelerating the internationalization of its AI products, supporting Chinese enterprises in global markets [4][8]. Operational Efficiency - Various Alibaba platforms have shown improved operational efficiency, with Lazada expected to achieve profitability in the next fiscal year and other segments like Gaode and Hema also reporting positive financial results [6]. - The user base for Alibaba's AI flagship application, Quark, has grown significantly, with monthly active users surpassing 200 million [6]. Shareholder Value - Alibaba has optimized capital allocation, selling non-core assets and focusing on core business areas, which has led to significant cash recovery [5]. - The company repurchased shares worth 11.9 billion USD in the 2025 fiscal year, reducing total share capital by 5.1%, thereby enhancing earnings per share [11].