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核心业务表现良好,发放特别现金股息——阿里巴巴-W(9988.HK)2025财年年报点评
EBSCN· 2025-05-16 10:40
2025 年 5 月 16 日 公司研究 核心业务表现良好,发放特别现金股息 4QFY2025 公司整体收入略逊于预期,主要由于剥离非核心业务如银泰、高 鑫零售等,公司核心业务表现仍较为亮眼: 淘天集团:4QFY2025 公司客户管理收入同比增长 11.8%,主要受益于 Take rate 的同比提升,公司通过技术服务费的收取和全站推营销工具的持续推广 提升对平台整体流量的变现能力。另一方面,平台核心客群稳健增长,88VIP 会员在 4QFY2025 末达到超 5000 万人,同比持续保持双位数增长。 云智能集团:4QFY2025 公司云智能集团收入增速进一步加速,同比增长 17.7%至 301.27 亿元,来自外部客户收入同比增长 17%。AI 产品仍然保持 强劲需求,公司 AI 相关产品收入连续七个季度实现三位数同比增长。公司在 2025 年 4 月推出新一代混合推理模型 Qwen3 系列,且所有 Qwen3 模型均 在魔搭社区、Hugging Face 等社区开源。同时,公司 AI 产品覆盖面更广, 除了互联网等新兴领域外,亦有制造业企业使用公司 AI 产品。 在股东回报方面,公司在 FY2025 以 ...
阿里巴巴-W(09988)2025财年收入净利双增长 归母净利同比增长62%至1294.7亿元 股东回报丰厚
智通财经网· 2025-05-15 10:34
Core Insights - Alibaba Group reported a revenue of RMB 236.45 billion (USD 32.58 billion) for the quarter ending March 31, 2025, representing a year-on-year growth of 7% [1] - The operating profit for the same quarter was RMB 28.47 billion (USD 3.92 billion), showing a significant increase of 93% year-on-year [1] - The net profit attributable to ordinary shareholders reached RMB 12.38 billion (USD 1.71 billion), marking a substantial growth of 279% year-on-year [1] Financial Performance - For the fiscal year ending March 31, 2025, total revenue was RMB 996.35 billion (USD 137.30 billion), reflecting a year-on-year increase of 6% [2] - Operating profit for the fiscal year was RMB 140.91 billion (USD 19.42 billion), which is a 24% increase compared to the previous year [2] - The net profit attributable to ordinary shareholders for the fiscal year was RMB 129.47 billion (USD 17.84 billion), up 62% year-on-year [2] Segment Performance - Taobao Group's customer management revenue grew by 6% to RMB 322.35 billion for the fiscal year, with a 12% increase in the fourth quarter to RMB 71.08 billion, driven by improved take rates and online GMV growth [3] - Alibaba International Digital Commerce Group (AIDC) saw a total revenue increase of 29% to RMB 132.30 billion for the fiscal year, with a 22% growth in the fourth quarter to RMB 33.58 billion, supported by strong cross-border business performance [3] - The Cloud Intelligence Group reported a total revenue growth of 11% for the fiscal year, with an 18% increase in the fourth quarter, primarily driven by faster growth in public cloud business revenue [4] Strategic Focus - The CEO of Alibaba Group emphasized the effectiveness of the "user-first, AI-driven" strategy, noting that core business growth continues to accelerate, particularly in AI-related product adoption [4] - The CFO highlighted strong quarterly performance with a 7% year-on-year revenue growth and a 36% increase in overall EBITA, expressing confidence in the business outlook and commitment to enhancing shareholder returns [4]