证券时报·2025-11-25 13:41Core Insights - Alibaba Group reported Q2 FY2026 revenue of 247.795 billion yuan, with a 15% year-over-year growth after excluding the impact of divested businesses [1] - The company continues to invest heavily in AI and cloud services, with Alibaba Cloud's revenue accelerating by 34% year-over-year, marking a new high [2][3] AI and Cloud Strategy - Strong demand for AI has driven Alibaba Cloud's revenue growth, with AI-related product revenue achieving triple-digit growth for the ninth consecutive quarter [3] - Alibaba Cloud's market share in China's AI cloud market reached 35.8% in the first half of 2025, surpassing the combined share of the second to fourth competitors [3] - The company launched the Qianwen App, which has seen over 10 million downloads in its first week, aiming to enhance AI applications in both B2B and B2C sectors [3] Global Expansion - Alibaba Cloud is accelerating its overseas operations, planning new regional nodes in Brazil, France, and the Netherlands, and has recently activated data centers in Dubai and Malaysia [4] Consumer Business Growth - E-commerce customer management revenue grew by 10% year-over-year, while instant retail business revenue surged by 60% [7] - The integration of offline stores into instant retail has led to significant growth in active users on the Taobao App, with nearly 600 brands achieving over 100 million in sales during the Double 11 shopping festival [7] Operational Efficiency - The company has seen improvements in operational efficiency across multiple business units, with notable revenue growth in Huijun Entertainment, Gaode, Hema, and Alibaba Health [8]