21世纪经济报道·2025-12-04 07:51Core Viewpoint - Alibaba has sold 85% of its stake in Trendyol GO to Uber for approximately $700 million, generating a profit of about 6 billion yuan, which has been included in the investment net income for the first half of FY2025 [1][4]. Group 1: Financial Performance - For the second quarter of FY2026, Alibaba reported revenue of 247.795 billion yuan, a year-on-year increase of 5% [4]. - The net profit for the same period was 20.612 billion yuan, reflecting a 53% decline compared to the previous year [4]. - Revenue from Alibaba's instant retail business reached 22.906 billion yuan, a significant increase of 60% from 14.321 billion yuan in the same quarter last year [4]. Group 2: Strategic Direction - Alibaba has established "AI-driven, cloud-first" as its core strategy, with CEO Wu Yongming indicating a critical investment phase in building AI technology infrastructure and a consumer platform combining life services and e-commerce [4]. - The company does not rule out additional investments beyond the previously committed 380 billion yuan for AI and cloud initiatives over the next three years [4]. Group 3: Market Position and Future Outlook - Trendyol GO, a key player in Turkey's instant retail market, completed over 200 million orders in 2024, with a transaction volume of $2 billion [4]. - Alibaba's recent divestments from physical retail, including the full sale of Intime Retail and Hema, indicate a strategic shift away from offline retail formats [4]. - Analysts from招商证券 express optimism about Alibaba's e-commerce competitiveness, growth potential in the food delivery sector, and long-term growth prospects in cloud and AI businesses, projecting Non-GAAP net profits of 106.9 billion yuan, 166.6 billion yuan, and 201.8 billion yuan for FY2026-2028 [5].