Group 1: Zhongtong Express - Zhongtong Express achieved a package volume of 8.5 billion in Q1 2025, representing a year-on-year growth of 19.1% [1] - Revenue reached 10.89 billion yuan, an increase of 9.4% year-on-year, while net profit grew by 40.9% to 2.04 billion yuan [1] - The company’s operating cash flow was 2.36 billion yuan, up 16.3% year-on-year, indicating strong financial health [1] Group 2: Meitu and Alibaba - Meitu signed a $250 million convertible bond agreement with Alibaba, with a 3-year term and a 1% annual interest rate [2] - The collaboration will focus on e-commerce, AI technology, and cloud computing, enhancing Meitu's capital structure and reducing financial pressure [2] - This partnership is expected to reshape the competitive landscape in the e-commerce and AI imaging markets [2] Group 3: Manbang Group - Manbang Group reported Q1 2025 revenue of 2.7 billion yuan, a year-on-year increase of 19% [3] - Adjusted net profit reached 1.39 billion yuan, reflecting an 84% year-on-year growth, exceeding market expectations [3] - The platform's order volume was 48.2 million, up 22.6% year-on-year, showcasing its strong market position [3] Group 4: Taobao and Cross-Border E-commerce - Nearly one million merchants have registered for the 2025 Tmall "618" overseas event, marking a historical high [4] - From May 16 to May 19, overseas sales doubled compared to the same period last year, indicating robust growth in cross-border e-commerce [4] - Categories such as beauty, sports shoes, and baby products saw cross-border transaction volumes double since the pre-sale started on May 13 [4]

Group 1 - The core event of "Tmall 618" has officially launched, marking the first truly global "618" event, with nearly one million merchants participating in the overseas venue for 2025 [1] - Since the pre-sale started on May 13, cross-border transaction volumes for 11 categories, including beauty skincare, sports shoes, baby diapers, and milk powder, have doubled year-on-year [1] - The range of products available for overseas consumers has expanded to include larger items such as home building materials and pet food, in addition to the typical small items [1] Group 2 - Since the launch of the "Global Free Shipping Plan for Apparel" in July 2024, going overseas has become a key strategy for Taobao to help merchants achieve new growth [2] - Taobao has accelerated its overseas expansion significantly since 2025, including the opening of its first offline furniture experience store in Hong Kong and the launch of a Russian version in Kazakhstan [2] - The company plans to continue its overseas expansion efforts throughout the year to help merchants tap into new markets and achieve additional business growth [2]