Core Insights - Alibaba Group reported a 10% year-on-year revenue growth for Q1 FY2026, with a net profit increase of 76% [1] - The strong performance is attributed to investments in AI and cloud services, as well as the growth in the e-commerce sector [1] Group 1: Financial Performance - The overall revenue of Alibaba Group reached 1400.72 billion yuan, with the Chinese e-commerce group's customer management revenue at 892.52 billion yuan, both showing a 10% year-on-year increase [3] - Alibaba Cloud revenue grew by 26% year-on-year, marking the highest growth rate in three years, driven by AI demand [2] - The international digital commerce group's revenue increased by 19%, nearing breakeven [5] Group 2: Strategic Investments - Alibaba announced a capital expenditure of 386 billion yuan for AI and cloud infrastructure, a 220% year-on-year increase [2] - The company plans to invest 500 billion yuan in the consumer sector to capitalize on growth opportunities in AI and consumption [1] Group 3: E-commerce Growth - The monthly active users of the Taobao app increased by 25% year-on-year in the first three weeks of August, driven by the rapid growth of instant retail [3] - The number of 88VIP members grew by double digits year-on-year, reaching 53 million, following the launch of a new membership system [3] Group 4: Business Integration - The strategic integration of Taotian Group, Ele.me, and Fliggy into Alibaba's Chinese e-commerce group has created a comprehensive consumption platform [4] - The integration has led to positive business synergies, with continuous breakthroughs in monthly active consumers and daily order volumes [4] Group 5: Future Outlook - Alibaba's CEO emphasized the focus on consumption and AI+cloud strategies for strong growth, indicating a commitment to long-term investments in these areas [5]

Core Insights - Alibaba Group reported a revenue of 247.65 billion yuan for Q1 of fiscal year 2026, reflecting a 10% year-over-year growth after excluding the impact of divested businesses [2] - The net profit for the quarter was 42.38 billion yuan, representing a 76% increase compared to the previous year, exceeding market expectations [2] Group Performance - The strong growth in core business revenue is attributed to successful investments in the AI and cloud sectors, with Alibaba Cloud revenue increasing by 26%, marking a three-year high [3][5] - AI-related product revenue has achieved triple-digit year-over-year growth for eight consecutive quarters [3][5] Strategic Focus - CEO Wu Yongming emphasized the focus on consumer and AI+cloud strategies, which have led to significant growth and consumer engagement [4] - The company is committed to investing in AI and cloud infrastructure, with capital expenditures reaching 38.6 billion yuan, a 220% year-over-year increase [5] AI Development - Alibaba has established a comprehensive technology stack for AI, supporting various industries and driving long-term growth [5] - Recent advancements include the launch of new AI models and applications, such as the AI-native application in Amap and upgrades in DingTalk [6] E-commerce Growth - The instant retail business has significantly contributed to the growth of monthly active consumers on the Taobao app, which increased by 25% year-over-year in the first three weeks of August [7][9] - The integration of various platforms under Alibaba's Chinese e-commerce group has enhanced user experience and operational efficiency [8][9] Membership and Customer Management - The 88VIP membership program continues to grow, with over 53 million members, reflecting a double-digit year-over-year increase [9] - Customer management revenue has also seen a 10% year-over-year growth, indicating improved operational efficiency across Alibaba's business segments [9]

8月29日晚间，阿里巴巴集团发布2026财年第一季度财报显示，报告期内，剔除已出售业务影响，集团整体收入同比 增长10%，净利润同比增76%。其中，阿里云收入同比增长26%，AI相关产品收入连续八个季度实现三位数同比增 长。 "在持续强劲的AI需求推动下，云智能集团收入加速增长，AI收入在云外部商业化收入占比显著。"阿里巴巴集团CEO吴 泳铭表示，面向未来，阿里将围绕"大消费"和"AI+云"两大战略重心投入。 此外，据了解，近期阿里巴巴正寻求为明年到期65亿美元银行贷款进行再融资，有关谈判仍在进行中。 收入同比增长 最新发布的财报信息显示，2026财年第一季度（截至2025年6月30日止季度），阿里集团收入达2476.52亿元（人民币）， 同比增长2%；若不考虑高鑫零售和银泰的已处置业务的收入，同口径收入同比增长为10%。 报告期内，集团经营利润达349.88亿元，同比下降3%。阿里财报显示，这主要是由于经调整EBITA（一项非公认会计准 则财务指标）的减少，部分被无形资产摊销、非现金股权激励费用的减少，以及去年同期的一次性计提准备金所抵销。 财报季内，集团归属于普通股股东的净利润为431.16亿元，净利润实 ...

Core Insights - The integration of AI and cloud computing is reshaping the technology and business landscape, marking a new starting point for the industry [2][4] - In 2024, China witnessed the emergence of 50 trillion-level parameter models, leading to a 74.1% year-on-year growth in intelligent computing power, significantly outpacing general computing growth [1] - Baidu's intelligent cloud has become a leader in the AI field, leveraging its comprehensive AI technology stack to drive innovation and transformation in cloud services [4][6] Industry Trends - The cloud computing sector is undergoing unprecedented changes due to the incorporation of AI technologies, which are redefining service architectures and value propositions [1][4] - The competitive landscape in cloud computing is shifting from cost-based competition to a focus on innovative solutions that address specific business challenges [4][6] Company Developments - Baidu has made significant advancements in AI, launching the first deep learning framework "PaddlePaddle" in 2016 and the AI chip "Kunlun" in 2018, establishing a robust foundation for its AI capabilities [4][5] - Baidu's intelligent cloud has achieved a 24.6% market share in China's AI public cloud market, maintaining its position as the leader for six consecutive years [6][7] - The "Cloud Intelligence Integration" strategy of Baidu's intelligent cloud is set to evolve further, aiming to enhance intelligence capabilities and expand its market penetration [6][7] Product Innovations - The Baidu "Baihe" AI computing platform has been upgraded to version 5.0, focusing on enhancing inference capabilities and optimizing resource utilization [6][7] - The "Qianfan" platform has transitioned to version 4.0, providing a one-stop enterprise service platform centered around AI agents, aimed at accelerating application deployment [7] Financial Performance - Baidu's intelligent cloud revenue grew by 27% year-on-year, contributing to the company's AI new business surpassing 10 billion yuan for the first time, with a 34% year-on-year increase [7]

Core Viewpoint - Alibaba Group reported a revenue growth of 10% year-on-year for Q1 FY2026, with total revenue reaching 247.65 billion yuan and net profit increasing by 76% to 42.38 billion yuan, exceeding market expectations [2][3]. Group Performance - The core business revenue growth remains strong due to effective investments in AI + Cloud and consumer sectors, with Alibaba Cloud revenue increasing by 26%, marking a three-year high, and AI-related product revenue achieving triple-digit growth for eight consecutive quarters [3][4]. Strategic Focus - CEO Wu Yongming emphasized the focus on consumer and AI + Cloud strategies, highlighting significant investments in instant retail that have led to increased consumer engagement and record-high monthly active users and daily order volumes [4][5]. AI and Cloud Investments - Alibaba's capital expenditure on AI + Cloud reached 38.6 billion yuan, a year-on-year increase of 220%, reinforcing its commitment to cloud and AI infrastructure, which is a key driver of cloud business growth [5][6]. AI Application Development - The company has developed a comprehensive technology stack for AI, supporting various industries, and has launched several AI-native applications, including a fully AI-driven version of Amap and upgraded DingTalk [6][7]. Consumer Platform Integration - The integration of Taobao, Ele.me, and Fliggy into Alibaba's China e-commerce group has resulted in a 25% year-on-year increase in monthly active buyers on the Taobao app, showcasing the positive effects of platform synergy [8][9]. Operational Efficiency - Alibaba's international digital commerce group saw a 19% year-on-year revenue increase, nearing breakeven, while other businesses like Hema, Amap, and Alibaba Health also showed continuous improvement in operational performance [9].

新浪科技讯 8月29日晚间消息，在2026财年Q1财报分析师电话会上，阿里巴巴集团CEO吴泳铭表示，以 AI+云为核心的科技平台、购物与生活服务融合的大消费平台，是阿里集团面临的两大历史性战略机 遇。阿里巴巴将以驱动业务强劲增长为核心目标，坚定投入未来发展，这也是阿里巴巴发展26年后的再 次创业。 吴泳铭详解了阿里为何在AI+云、消费两大战略领域分别投入3800亿和500亿元，以及两大战略领域要 实现的目标。 这些投入持续收获成效，阿里云实现26%的高速增长，在AI相关收入连续8个季度三位数增长的带动 下，本季度AI收入占外部商业化收入的比例已超过20%。阿里在即时零售领域的投入也快速取得阶段效 果，8月整体即时零售月度活跃买家数达3亿，带动淘宝app 25%的月度活买家数增长，中国电商集团的 日订单量持续突破新高。 在AI领域，吴泳铭表示，"AI技术对所有行业的改变升级以及AI与云计算的深度结合，是未来十年技术 领域最大的行业机会。" 阿里巴巴拥有全球第四、亚洲第一的云，也拥有从AI算力、AI云平台、AI模型、开源生态到AI应用的 全栈技术能力。"本季度，阿里在AI+云的Capex投资达386亿元。过去四个 ...

Core Insights - The company reported strong performance in its two main business segments, cloud services and cloud products, with cloud services achieving profitability for the first time in the first half of 2025 [1] - The company implemented a strategic adjustment in 2024, focusing on increasing high-margin business scale and optimizing organizational processes to enhance overall competitiveness [1] Financial Performance - In the first half of 2025, the company achieved a gross profit of 5.32 million yuan in cloud services, with a gross margin of 6.60%, an increase of 7.89 percentage points year-on-year [1] - The gross margin for cloud products remained high at 63.04% [1] - The company reported a net profit attributable to shareholders of -41.56 million yuan, a year-on-year narrowing of 10.43% [1] Cloud Services Strategy - The company focused on value enterprise clients with stable digitalization needs and significantly developed AI computing power services, capturing major market opportunities in the AI computing sector [2] - The cloud services business achieved a gross profit of 4.38 million yuan and AI computing cloud revenue of 22.82 million yuan in the first half of 2025 [2] - The company emphasized creating standardized, user-friendly, and reliable products to meet clients' digital needs, enhancing research and development efficiency [2] Channel Strategy - The company adopted a value channel strategy, focusing on "core channels + benchmark channels" and viewing channel partners as external partners to collaboratively meet customer needs [3] - In the first half of 2025, the company expanded its service boundaries through strategic partnerships with various organizations and participated in key projects [3]

每经记者｜郑雨航 每经编辑｜段炼 高涵 ① 【三大期指齐跌】道指期货跌0.37%、标普500指数期货跌0.35%、纳指期货跌0.51%。 ② 【热门中概股盘前涨跌不一】热门中概股盘前涨跌不一， 腾讯音乐、理想汽车涨超1%，百度涨近1%，小鹏汽车跌超1%。 ③ 【比特币持续下跌至11万美元下方】比特币跌至109940.2美元，过去24小时内跌2.82%；以太坊跌至4375.62美元，过去24小时内跌4.79%。 ④ 【英伟达盘前跌近1%】英伟达盘前跌近1%。消息面上，该公司Q2数据中心销售额不及预期。 ⑤ 【阿里云增长26%超预期，阿里巴巴涨近3%】阿里巴巴盘前涨近3%，该公司发布的截至自然年2025年6月末的2026财年第一财季财报显示，剔除已出 售业务影响，集团整体收入同比稳健增长10%。净利润同比增长76%，超市场预期。由于对AI+云、消费两大战略领域的投入持续收获成效，核心业务收 入增长保持强劲。阿里云收入同比增长26%，创三年新高。 ⑥ 【戴尔盘前跌超6%】戴尔盘前跌超6%。消息面上，该公司公布的财报显示，第二季度营收与利润超出市场预期，但AI服务器订单下滑。 ⑦ 【英特尔已于28日获得美国政府57亿 ...

作者 | 第一财经 陈杨园 本文字数：1291，阅读时长大约3分钟 8月29日，阿里巴巴集团（BABA.NYSE/09988.HK）发布2026财年第一季度财报（截至2025年6 月30日的第二季度）财报，财报显示，第二季度，阿里巴巴营收2476.5亿元，同比增长2%，若不 考虑高鑫零售等已出售业务，同比增长10%。 报告期内，阿里经营利润349.88亿元，同比下3%，经调整EBITA同比下降14%，主要归因于对淘 宝闪购以及用户体验、科技等投入增加。 值得一提的是，随着对外卖等业务的投入和集团资源调配，此次财报中，阿里巴巴对业务板块做了重 新整合，饿了么、飞猪归入阿里中国电商集团，其中飞猪进入电商板块，淘宝闪购、饿了么进入即时 零售板块。过往"1+6+N"六大业务集团中的菜鸟集团、阿里大文娱集团、本地生活集团不再单列， 归入"所有其他"板块。 | | | 截至6月30日止三個月 | | | | --- | --- | --- | --- | --- | | | 2024 | 2025 | | | | | | | | %同仕變 | | | 人民幣 | 人民幣 | 美元 | 動 | | | | (以百萬計,百分 ...

（文章来源：第一财经） 8月29日晚间，阿里巴巴在财报电话会上表示，阿里云外部商业化季度营收同比增长26%，其中AI收入 已经占外部商业化收入超20%。该季度，阿里云营收增长26%至333.98亿元。公司表示，增长得益于AI 应用加速发展、客户接受度提高，同时AI应用带动传统计算和存储产品需求增长。 ...