云端筑梦 智在京华：科技平台她力量 ——阿里巴巴北京党委书记 刘葳 让世界看见中国科技力量：2022年，作为奥林匹克全球合作伙伴，阿里巴巴发挥自研云计算能力，服务北京冬奥成为首届"云上"奥运。刘葳同志带领团队 全力投入北京冬奥服务，阿里北京设计师李剑叶融合科技创新和传统文化理念，中标并牵头设计了北京冬奥火炬"飞扬"、火种灯、火种台外观；阿里云为 冬奥会期间的城市交通提供智能调度和预测服务，将北京全部14大类交通数据综合处理，日均新增GPS数据上亿条。 绿色科技服务首都首善：今年7月16日，联合国发布《2025全球可持续交通最佳实践案例集》，"北京MaaS城市绿色出行"案例作为中国交通绿色发展的典 范入选，正是刘葳作为核心成员参与的阿里北京落地重要政企合作项目之一。北京市自2019年11月启动国内首个绿色出行一体化服务平台（简称"北京 MaaS"），MaaS作为交通领域新理念，需要极高的技术支撑能力。刘葳协同高德团队，在北京交通委指导下，全力参与，并在2022年在高德平台率先开 启绿色出行碳普惠活动，鼓励市民绿色出行获得权益实惠，高德通过北京绿色交易所将减碳量交易给更多企业实现减排目标，也助力北京成为全球首个完 ...

Core Insights - China Resources Land has launched the Hangzhou Asia-Olympic Vientiane City, featuring a commercial area of 120,000 square meters [1] - The development includes over 260 domestic and international brands, with nearly half being regional flagship stores [1] Group 1: Brand Composition - The brand matrix encompasses various sectors including retail, dining, lifestyle, social, entertainment, and pet-friendly offerings [1] - Notable brands include Hema, Vientiane Cinema, Salomon, Pop Mart, and popular dining options like O'eat and JOETYLER [1] Group 2: Experience and Innovation - The project features trendy experiential offerings such as ASCENT EVER climbing gym and After Work fitness store [1] - The combination of box and street layout aims to enhance customer engagement and experience [1]

Core Insights - Alibaba has transformed into a leading player in China's full-stack AI sector, with its self-developed Tongyi AI model competing globally and a significant increase in model derivatives [3][6] - The company's stock price recently reached a four-year high, with a market capitalization of HKD 3 trillion, reflecting renewed investor confidence [3][6] - Under CEO Wu Yongming's leadership, Alibaba has focused on two main growth engines: consumer business and AI + cloud [3][6] Strategic Focus - Wu Yongming emphasized the need for Alibaba to concentrate on core areas, specifically e-commerce and AI + cloud, during his tenure [5][6] - The company has undergone a re-entrepreneurship process, prioritizing user-centric and AI-driven strategies [5][6] - Alibaba Cloud's revenue growth accelerated from 2% to 26% over two years, driven by a shift to a "public cloud first" strategy [6][8] E-commerce Developments - Wu Yongming has taken direct control of the e-commerce segment, focusing on enhancing the user experience and product offerings on Taobao [7][8] - The number of 88VIP members has nearly doubled from 30 million to 53 million, indicating a strong recovery in consumer engagement [15][16] - Taobao's collaboration with Ele.me has led to significant growth in instant retail, with monthly active buyers reaching 300 million [16] Organizational Restructuring - Wu Yongming has restructured Alibaba's organizational framework to enhance collaboration across different business units, creating a unified operational strategy [9][10] - The integration of various platforms, such as Taobao, Ele.me, and Feizhu, into a single e-commerce group aims to streamline services and improve user experience [9][10] Future Investments - Alibaba plans to invest CNY 380 billion in cloud and AI infrastructure and CNY 50 billion in consumer services over the next few years [12][13] - The company aims to leverage AI technology as a key driver for growth, with a focus on integrating AI with cloud computing [12][13] AI and Technology Leadership - Alibaba has significantly increased its investment in AI, with over CNY 100 billion allocated to AI infrastructure and product development in the past four quarters [19][20] - The company has achieved a 35.8% market share in China's AI cloud market, surpassing competitors [13][14] - The Tongyi AI model has become the largest open-source model family globally, with over 140,000 derivatives [14][19]

Core Insights - Alibaba Group's Q1 FY2026 financial report shows a revenue of 247.65 billion RMB, a slight increase of 2% year-on-year, marking the lowest growth rate in nearly two years due to the sale of Gaoxin Retail and Intime [1] - The adjusted EBITA for the quarter was 38.8 billion RMB, a decrease of 14% compared to the previous year [1] - The company is undergoing a significant organizational restructuring, integrating Ele.me and Fliggy into Alibaba's China e-commerce business group, which will now report directly to the head of that group, Jiang Fan [1] Business Strategy - Alibaba is focusing on two historical strategic opportunities: a technology platform centered on "AI + Cloud" and a consumer platform that merges "shopping and lifestyle services" [1] - This strategic shift indicates a transition from traditional e-commerce and cloud services to a broader business scope, reflecting a commitment to long-term investment over short-term profitability [1] E-commerce Transformation - Under Jiang Fan's leadership, Alibaba's retail business is undergoing a profound transformation, optimizing supply and enhancing customer experience by managing experience scores and adjusting traffic distribution [2] - Despite short-term impacts on EBITA, customer management revenue has grown by 10%, reaching its highest point in recent years [2] Instant Retail Development - Taobao Flash Purchase, a key part of Alibaba's new strategy, has successfully completed its first phase of scale expansion and will now focus on improving unit economics [4] - The platform has increased daily active users by 20%, boosting advertising and CRM revenue while effectively reducing marketing costs [4] Other Business Units - Other businesses, including Hema, Cainiao, and Alibaba Health, have seen declines in revenue and profit, raising concerns about their survival [4] - To alleviate financial pressure, Zhibo Intelligent has submitted a listing application to the Hong Kong Stock Exchange, indicating potential plans for other businesses to go public [4] Overall Outlook - Alibaba's series of structural adjustments and business transformations reflect the company's keen insight into future strategic opportunities and its determination to seek breakthroughs and innovations in a complex market environment [6] - As these reform measures are gradually implemented, Alibaba will face more challenges and opportunities in the new fiscal year, warranting ongoing attention to its future development [6]

Core Insights - Alibaba Group reported its first-quarter financial results for fiscal year 2026, showing a revenue of RMB 247.65 billion, a year-on-year increase of 2%. Excluding disposed businesses, the revenue growth would be 10%. Net profit surged by 76% to RMB 42.38 billion [1] - The "instant retail" business of Alibaba's China e-commerce group generated RMB 14.78 billion in revenue, up 12% from RMB 13.20 billion in the same period last year, primarily driven by increased order volume from "Taobao Flash Purchase" [1] - Alibaba's adjusted EBITA decreased by 14% to RMB 38.84 billion, attributed to investments in Taobao Flash Purchase and user experience, partially offset by double-digit revenue growth in the e-commerce group [1] Financial Performance - Revenue for the first quarter of fiscal year 2026 was RMB 247.65 billion, with a 2% year-on-year growth. Adjusted for disposed businesses, the growth rate would be 10% [1] - Net profit reached RMB 42.38 billion, reflecting a significant increase of 76% year-on-year [1] - The adjusted EBITA for the quarter was RMB 38.84 billion, down 14% compared to the previous year [1] Business Strategy - Alibaba's CEO emphasized the importance of AI and cloud technology as key strategic opportunities for the company, with a capital expenditure of RMB 38.6 billion in AI and cloud for the quarter [3] - The company aims to create a comprehensive consumption platform that meets the needs of 1 billion consumers, focusing on integrating instant retail and e-commerce [4] - Alibaba plans to maintain a startup mentality over the next three years, continuously investing in core businesses to enhance competitive advantages [4] Market Competition - Alibaba's executives acknowledged the competitive landscape in the instant retail sector, noting that they are working to improve efficiency and increase the proportion of high-value orders [5] - The company expects Taobao Flash Purchase to generate an additional RMB 1 trillion in transactions over the next three years [5] - Competitors like Meituan are also facing challenges, with their core local business segment experiencing a 75.6% decline in operating profit year-on-year due to intense competition [6]

每经记者｜陈婷 每经编辑｜董兴生 如火如荼的外卖大战行至8月，备受关注的淘宝闪购交出自4月底推出以来的首份成绩单。 8月29日，阿里巴巴集团发布2026财年第一季度（截至2025年6月30日止季度）财报，收入为人民币 2476.52亿元，同比增长2%。若剔除已处置业务（高鑫零售、银泰）的影响，同口径收入同比增长将为 10%。净利润为人民币423.82亿元，同比增长76%。 值得一提的是，报告期内，阿里巴巴中国电商集团的"即时零售"业务收入为人民币147.84亿元，较2024 年同期的131.96亿元增长12%，主要得益于"淘宝闪购"带来的订单量增长。 与此同时，阿里在该季度的经调整EBITA(息税及摊销前利润)同比下降14%至人民币388.44亿元，也主 要归因于对淘宝闪购以及用户体验、用户获取和科技的投入，部分被阿里巴巴中国电商集团的双位数收 入增长以及多项业务运营效率的提升所抵销。 财报提及，即时零售业务快速取得阶段成果，8月前三周带动淘宝App的月度活跃消费者同比增长 25%。阿里高管在随后的财报分析师电话会上表示，5月以来，阿里在即时零售领域的投入快速取得了 阶段效果，并产生了积极的协同效应。其透露， ...

Core Viewpoint - Alibaba reported its Q1 FY2026 financial results, showing a revenue of 247.65 billion yuan, a 2% year-over-year increase, and a net profit of 42.38 billion yuan, a 76% year-over-year increase. However, non-GAAP net profit decreased by 18% to 33.51 billion yuan [1]. Financial Performance - Revenue for Q1 FY2026 was 247.65 billion yuan, reflecting a 2% increase year-over-year [1]. - Net profit reached 42.38 billion yuan, marking a significant 76% increase year-over-year [1]. - Non-GAAP net profit was reported at 33.51 billion yuan, which is an 18% decline compared to the previous year [1]. Business Development and Strategy - The company is focusing on expanding its instant retail and food delivery services, with significant investments planned for these sectors [2]. - The management highlighted the growth opportunities in the Chinese instant retail market and shared plans for the investment strategy in this area [2]. Flash Purchase Business Insights - The flash purchase service has seen substantial growth, achieving a peak daily order volume of 120 million and a weekly average of 80 million orders in August [3]. - Monthly active users for the flash purchase service reached 300 million, representing a 200% increase compared to before April [3]. - The number of active delivery riders has tripled since April, reaching 2 million, contributing to over a million new jobs created [3]. Impact on E-commerce - The flash purchase service has positively influenced overall user engagement on the platform, with a 20% increase in daily active users (DAU) for August [4]. - Increased user activity has led to higher advertising revenue and reduced marketing expenses due to improved user retention and acquisition [4]. Operational Efficiency and Economic Model - The company is focused on improving operational efficiency as it scales its flash purchase service, aiming to close the efficiency gap with competitors [5]. - Short-term improvements in unit economics (UE) are expected through user structure optimization and increased order value [6]. - Long-term strategies include enhancing logistics efficiency and reducing costs as order volumes stabilize [6]. Non-Food Retail Development - The company is expanding its non-food retail categories through a dual approach of near-field native models and a combination of near and far-field strategies [7]. - The number of flash warehouses has exceeded 50,000, with a year-over-year order growth of over 360% [7]. - The integration of Tmall's offline stores into the flash purchase platform is anticipated to enhance consumer experience and drive new business growth [8]. Future Projections - The company expects that the flash purchase and instant retail initiatives will generate an additional 1 trillion yuan in transactions over the next three years [8]. - The competitive landscape in the food delivery sector is evolving, providing more choices for merchants and consumers, which is seen as beneficial for the industry in the long run [8].

Core Viewpoint - Alibaba Group has restructured its business from "1+6+N" to four main categories, focusing on "e-commerce, cloud + AI" [1][4] Group Structure Adjustment - The new business categories include Alibaba China E-commerce Group, Alibaba International Digital Commerce Group, Cloud Intelligence Group, and all other businesses [1][2] - The Alibaba China E-commerce Group encompasses various segments such as Taobao, Tmall, Xianyu, and Fliggy, along with instant retail and wholesale operations [2][3] - The restructuring officially established the Alibaba China E-commerce Group in November 2024, integrating previously separated e-commerce resources into a comprehensive unit [2] Business Realignment - The local life group has been dismantled, with Ele.me integrated into the Alibaba China E-commerce Group, while other services like Gaode Map and Cainiao have been categorized under all other businesses [4] - This restructuring marks a significant shift from the previous "1+6+N" model, which was initiated in March 2023 [4] Strategic Focus - The adjustment reflects Alibaba's intent to concentrate resources on its most promising sectors, particularly e-commerce and cloud services [5] - Alibaba's Chairman, Daniel Zhang, emphasized that the core strategic direction for the next three to five years will be "e-commerce" and "cloud + AI," with AI technology becoming a central driver across all business units [5]

Core Viewpoint - Alibaba Group has officially restructured its business from the "1+6+N" model to four main business categories, focusing on "e-commerce, cloud + AI" [1][7]. Business Structure Changes - The new business categories include Alibaba China E-commerce Group, Alibaba International Digital Commerce Group, Cloud Intelligence Group, and all other businesses [3][6]. - The Alibaba China E-commerce Group encompasses various segments such as Taobao, Tmall, Xianyu, and Fliggy for e-commerce, as well as instant retail through Taobao Shanguo and Ele.me, and wholesale through 1688 [5]. Strategic Focus - The restructuring reflects Alibaba's strategic intent to concentrate resources on its most promising growth areas, particularly e-commerce and cloud services [8]. - Alibaba has exited non-core assets like Gao Xin Retail and Intime Department Store, reallocating resources to enhance its competitive edge in e-commerce and cloud intelligence [8][9]. Future Directions - Alibaba's leadership has emphasized that AI technology will be a core driver across all business segments, aiming for deep integration of AI with various operations [9]. - The company plans to increase investments in cloud and AI infrastructure to accelerate innovation and application across industries [9].

Core Viewpoint - Alibaba has restructured its business from the previous "1+6+N" model to a simplified framework consisting of four main business categories, focusing on e-commerce and cloud + AI [4][6]. Group 1: Business Structure Changes - Alibaba's new business structure includes four main categories: Alibaba China E-commerce Group, Alibaba International Digital Commerce Group, Cloud Intelligence Group, and all other businesses [1][4]. - The Alibaba China E-commerce Group encompasses various segments such as Taobao, Tmall, Xianyu, and Fliggy for e-commerce, as well as instant retail and wholesale operations [3][5]. - Other business categories include DingTalk, Quark, Gaode Map, Cainiao, Youku, Damai Entertainment, Hema, Alibaba Health, and Orange Lion Sports, with significant restructuring of local life services [6][7]. Group 2: Strategic Focus - The restructuring reflects Alibaba's strategic intent to concentrate resources on its most promising sectors, particularly e-commerce and cloud services [7][8]. - Alibaba has divested from non-core assets like Hema Retail and Intime Department Store, reallocating resources to enhance its competitive edge in e-commerce and cloud intelligence [7][8]. - The company aims to integrate AI technology across all business segments, with a focus on innovation and market competitiveness [8]. Group 3: Future Outlook - Alibaba's leadership has indicated that the core strategic direction for the next three to five years will revolve around e-commerce and "AI + Cloud" [7][8]. - The company plans to increase investments in cloud and AI infrastructure to drive innovation and operational efficiency across various sectors [8]. - Alibaba is transitioning from an "internet company" to an "AI-driven technology company," positioning AI as a central competitive advantage [8].