Core Viewpoint - Alibaba is shifting its strategy from independent development to unified operations to better compete in the market, emphasizing a "user-first, AI-driven" approach as it integrates its various business units [2][4][5]. Financial Performance - In the fiscal year 2025, Alibaba reported revenues of 996.347 billion yuan, with a net profit increase of 77% to 125.976 billion yuan. Alibaba Cloud experienced double-digit revenue growth, and AI-related product revenues have seen triple-digit year-on-year growth for seven consecutive quarters [2][3]. Organizational Changes - The "1+6+N" organizational structure initiated by former CEO Zhang Yong has been downplayed under the leadership of Wu Yongming, who has halted plans for the spin-off and IPO of several business units, focusing instead on consolidating operations [4][5]. - The number of Alibaba's partners has been reduced to 17, the lowest since its IPO in 2014, reflecting a continued focus on core business and technology leadership [11]. Strategic Initiatives - Wu Yongming's leadership has led to the merger of Ele.me and Fliggy into Alibaba's China e-commerce division, aiming to create a more cohesive consumer service ecosystem [5][6]. - The integration of resources between Taobao and Ele.me has resulted in significant operational improvements, with daily order volumes exceeding 40 million and a 97% on-time delivery rate [6]. Cultural and Management Shifts - Wu Yongming has emphasized the need for Alibaba to adopt a "founder's mindset" to overcome internal inertia and adapt to changing market conditions [14][15]. - Concerns about Alibaba's internal management and competitive edge have been raised, with former employees noting a decline in strategic clarity and mission-driven focus since 2017 [16][17].