作 者丨董静怡 编 辑丨朱益民 站在今天这个时间点，很难再单单用"电商巨头"定义阿里了。 2025财年，阿里淘天集团营收仅增长3%，而云计算和AI相关业务则更受市场关注。 年报显示，阿里巴巴集团收入9963.47亿元，净利润同比增长77%至1259.76亿元。其中，阿里 云收入达到1180亿元，同比增幅达到了11%。第四财季，阿里云收入同比增长18%，达到 301.27亿元，创下三年来最快增速。 短短两年时间里，阿里身上的AI标签变得越来越显眼，其在AI领域的进展增强了市场对其未 来增长潜力的信心，今年早期，已有多家全球顶级投资机构对阿里巴巴进行了显著增持。 两年前，蔡崇信、吴泳铭上任后，定调了"AI是未来核心"，推动技术与业务深度融合。而最 激进的举措，是宣布未来三年投入3800亿元建设AI基础设施——这一数字，甚至超过了阿里 过去十年的科技投入总和。 投资AI的动作还在继续。7月3日，阿里巴巴集团发布公告，计划发行本金总额约120亿港元、 2032年到期的零息可交换债券。债券发行募集资金净额将用于投入云计算基础设施建设和支 持国际电商业务发展。 在年报致股东信中，阿里表示，未来十年，最大的增量和变量都是以 ...

Core Insights - Alibaba is evolving beyond its traditional identity as an "e-commerce giant," with a significant focus on AI and cloud computing as key growth drivers for the future [2][3][4] - In FY2025, Alibaba's revenue reached 996.347 billion yuan, with a net profit increase of 77% to 125.976 billion yuan, while its cloud computing revenue grew by 11% to 118 billion yuan [2][4] - The company plans to invest 380 billion yuan in AI infrastructure over the next three years, surpassing its total tech investment in the past decade [2][8] Financial Performance - Alibaba's revenue growth for the e-commerce segment was only 3% in FY2025, contrasting with the 18% year-on-year growth in cloud revenue for Q4 [2][4] - The cloud segment achieved a record revenue of 301.27 billion yuan in Q4, marking the fastest growth in three years [2] AI Strategy - Alibaba views AI as a core driver of business growth and a major opportunity for the next decade, with plans to integrate AI deeply into its operations [3][4] - The company has established a comprehensive AI ecosystem, focusing on foundational technology, commercial applications, and infrastructure [5][6] Investment and Development - Alibaba's capital expenditure for Q1 FY2025 was 24.612 billion yuan, a 120.68% increase year-on-year, with a total planned capital expenditure of 86 billion yuan for FY2025 [8] - The company is actively investing in AI startups and technologies, including leading funding rounds for several AI firms [9][10] Market Position and Future Outlook - Analysts predict that Alibaba's AI-related revenue could reach 29 billion yuan and 53 billion yuan in FY2026 and FY2027, respectively, contributing significantly to overall cloud revenue growth [7] - Alibaba's strategic investments aim to create a closed-loop system where investments in AI startups lead to increased cloud service revenues, enhancing its competitive position in the tech landscape [10][11]

文｜树龙谈 2025年已经过半，这半年，互联网巨头过得怎么样？ 我们按照"市值"这一维度，将中国最值钱的10家互联网公司进行排名，并且对比去年年末。 结果发现： 1.小米从第5名上升到了第3名； 2.腾讯音乐进入前10，百度跌出前10； 3.小米、腾讯音乐、网易、快手，股价涨幅惊人； 4.美团、携程、京东，股价下跌明显。 为什么？ 互联网进入ATM时代 | 排名 | 公司 | | | 市值 | | 名次变化 | | --- | --- | --- | --- | --- | --- | --- | | 1 | 腾讯 | | | | 5885 | 不变 | | 2 | 阿里 | | | 2705 | | 不变 | | 3 | 小米 | | 1987 | | | 12 | | 4 | 拼多多 | | 1486 | | | 11 | | 5 | 美团 | 975 | | | | 11 | | 6 | 网易 | 852 | | | | 不变 | | 7 | 京东 | 471 | | | | 不变 | | 8 | 携程 | 383 | | | | 不变 | | 9 | 快手 | 345 | | | | 11 | | 1 ...

Core Insights - The article highlights significant developments in the AI industry, including company performances, product launches, and investment activities, reflecting the rapid growth and innovation in the sector. Group 1: Company Performances - Yushutech's CEO Wang Xingxing announced that the company has around 1,000 employees and annual revenue exceeding 1 billion yuan, driven by the growing interest in embodied intelligence [5]. - Alibaba reported a revenue of 996.347 billion yuan for the fiscal year 2025, with a net profit increase of 77% to 125.976 billion yuan, largely due to strong AI demand [8]. - Ant Group launched the AI health application AQ, connecting over 5,000 hospitals and nearly 1 million doctors, enhancing healthcare accessibility [9][10]. Group 2: Product Launches - Xiaomi introduced the Xiaomi AI glasses, featuring a 12-megapixel camera and support for third-party app video calls, priced from 1,999 yuan [6][8]. - Huawei announced the launch of the HarmonyOS intelligent agent framework, with over 50 applications set to go live, covering various sectors [23]. - The F-TAC Hand, a robotic bionic hand with high-resolution tactile sensing, was developed by a research team, showcasing advancements in robotics [19]. Group 3: Investment Activities - Yushutech completed a C-round financing of approximately 700 million yuan, with a post-investment valuation of about 12 billion yuan, indicating strong investor confidence [22]. - The AI financing events this week totaled 25.996 billion yuan, with an average investment amount of 13.68 million yuan, reflecting ongoing interest in AI startups [70]. - The highest financing event was by Thinking Machines Lab, which raised $2 billion in seed funding, emphasizing the demand for AI technology innovation [71].

新华财经北京6月27日电（胡晨曦） 6月26日，阿里巴巴集团正式发布了2025财年的财务报告。数据显 示，阿里巴巴集团收入达9963.47亿元，净利润同比增长77%至1259.76亿元；电商和云的全年收入增速 分别为8.3% 和11%。这一成绩不仅体现了阿里巴巴在复杂市场环境中的稳健表现，也标志着其在"用户 为先、AI驱动"战略下的持续增长。 此外，阿里巴巴2025财年年报例行披露了最新合伙人信息，其中戴珊、方永新、彭蕾、宋洁、孙利军、 武卫、俞永福、张勇、朱顺炎9人已退出合伙人之列。 "AI+云"成新增长引擎 2025财年，阿里巴巴坚定战略聚焦，电商和"AI+云"两大核心业务持续加速增长，集团整体驶入发展快 车道。公司通过全力投入AI基础设施与技术先进性建设，不断提升其在全球科技领域的竞争力，为业 务长期增长提供持续动力。 围绕"AI驱动"战略，阿里巴巴持续打造全球领先的AI模型，构建具备AI技术服务能力和具备全球技术 竞争力的云计算网络，利用AI升级现有互联网业务，将"AI+云"塑造成面向未来的新增长引擎。 在6月26日举行的2025阿里资产年度峰会上，阿里巴巴集团副总裁、阿里资产总裁李然表示，阿里资产 ...

阿里巴巴集团2025收入9963.47亿元，净利润同比增长76.81%至1259.76亿元。在AI需求的强劲推动下，阿里云财年收入 突破双位数增长，AI相关产品收入连续七个季度实现三位数同比增长。 硬·AI 作者 | 张雅琦 编辑 | 硬 AI 阿里巴巴集团2025财年收入9963.47亿元，净利润同比增长76.81%至1259.76亿元。报告显示，在AI需求的 强劲推动下，阿里云财年收入突破双位数增长，AI相关产品收入连续七个季度实现三位数同比增长。 蔡崇信、吴泳铭在信中表示，"未来十年，AI将重塑每一个行业，带来前所未有的颠覆性变革。" 6月26日，阿里巴巴集团发布2025财年年报： 同比增长76.81%至1259.76亿元。 收入： 同比增长5.86%至9963.47亿元； 经营利润： 同比增长24.34%至1409.05亿元； 归属于普通股东的净利润： 同比增长62.46%至1294.7亿元； 净利润： | | | | 截至3月31日止年度 | | | | --- | --- | --- | --- | --- | --- | | | 2021 | 2022 | 2023 | 2024 | 2025 ...

Core Insights - Alibaba Group emphasizes AI as the core driver of business growth and future opportunities, committing to significant investments in AI infrastructure and technology [1][2][3] - The company reported a revenue of 996.347 billion yuan for the fiscal year 2025, with a net profit increase of 77% to 125.976 billion yuan [1] - Alibaba Cloud achieved double-digit revenue growth, with AI-related product revenue growing threefold for seven consecutive quarters [1] Business Strategy - The strategic focus is on "user-first" and "AI-driven" approaches, enhancing user experience and optimizing the merchant ecosystem [2] - Alibaba is actively investing in AI and cloud infrastructure, aiming to innovate and implement AI technologies across various industries [2][3] - The company is transitioning to a startup mentality to seize opportunities in the evolving market landscape [3] E-commerce Performance - Domestic e-commerce saw a 6% increase in customer management revenue, with the 88VIP membership growing to over 50 million [4] - International e-commerce, particularly through AliExpress and Trendyol, experienced a 33% revenue growth, benefiting from strong cross-border e-commerce performance [4] Innovation and User Growth - Strategic innovation businesses like 1688, Xianyu, DingTalk, and Quark continue to show steady growth, with Quark's user base exceeding 200 million [5] - DingTalk has become the largest efficiency office app in China, with an average of 42 million paid weekly active users as of March 2025 [5]

Core Insights - Alibaba Group reported a strong performance for the fiscal year 2025, driven by robust AI demand, with cloud revenue achieving double-digit growth and AI-related product revenue growing threefold for seven consecutive quarters [2][4][10] - The company emphasized its entrepreneurial spirit and commitment to innovation as it embarks on a new journey in the AI era [8][11] Financial Performance - For the fiscal year 2025 (April 1, 2024, to March 31, 2025), Alibaba's total revenue reached 996.347 billion RMB, with a net profit increase of 77% to 125.976 billion RMB [4][5] - The operating profit for the same period was reported at 140.905 billion RMB, reflecting a significant improvement in operational efficiency [5] Business Segments - Alibaba Cloud served approximately 63% of China's A-share listed companies, with significant growth in user numbers for its AI model platform "Bailian" [5][10] - The Taotian Group saw a 6% year-on-year increase in customer management revenue, with the 88VIP membership program exceeding 50 million members [6][10] Strategic Focus - The company outlined its strategic priorities in its shareholder letter, emphasizing a "user-first" approach and an "AI-driven" strategy [10][11] - Alibaba is focusing on AI model research and innovation, having released over 200 open-source models and more than 100,000 derivative models, positioning itself as a leader in the open-source AI model space [10][11] Market Position - Alibaba is strategically positioned in the cloud computing market, being the largest cloud service provider in the Asia-Pacific region, and is accelerating the internationalization of its AI products [11] - The company aims to leverage its talent, technology, and resources to capitalize on the opportunities presented by the AI wave, viewing "AI + Cloud" as a core growth driver for the future [11]

阿里巴巴集团6月26日发布2025财年年报。 在年报致股东信中，阿里巴巴集团董事会主席蔡崇信、阿里巴巴集团CEO吴泳铭表示，未来十年，最大的增量和变量都是以AI为核心的驱动力带来的变革。股东信 还提到，"阿里巴巴将AI视为业务增长的核心驱动力，也是面向未来发展的最大机遇之一，因此全力投入AI基础设施和技术先进性建设，提升在全球科技领域的竞争 力，并将其转化为业务增长的持续动能。" 阿里巴巴集团2025财年年报显示，该财年集团收入9963.47亿元，净利润同比增长77%至1259.76亿元。阿里云财年收入突破双位数增长，AI相关产品收入连续七 个季度实现三位数同比增长。2025财年，阿里云服务了约63%的A股上市公司。 蔡崇信、吴泳铭：把"AI+云"塑造成面向未来的新增长引擎 股东信分享了过去一个财年阿里巴巴的战略执行与业务进展。据介绍，过去一个财年，阿里巴巴聚焦电商、"AI+云"两大核心业务，业务实现加速增长。集团还加 大对云和AI基础设施的投入，加速推动AI技术创新和落地千行百业。同时，阿里巴巴有序退出高鑫零售、银泰百货等资产，并提高多个互联网平台业务的经营效 率，虎鲸文娱、高德等业务陆续实现单季度盈利。 ...

【导读】阿里年报披露变革成绩单，阿里致股东信聚焦AI 中国基金报记者 曹雯璟 6月26日晚间，阿里巴巴集团发布2025财年年报，再次交出一份积极的变革成绩单：在AI需求的强劲推动下，阿里云财年收入突破双位数 增长，AI相关产品收入连续七个季度实现三位数同比增长。淘天集团投入用户增长和体验提升，新买家强劲增长，88VIP会员规模超5000 万。跨境业务表现强劲，国际数字商业集团财年收入同比增长29%。 在致股东信中，阿里巴巴表示，阿里的基因里没有守成，只有创造。今天的阿里巴巴，正在以创业者的姿态，开启面向AI时代的全新征程。 净利润同比增长77% 阿里年报披露变革成绩单 年报显示，2025财年（2024年4月1日至2025年3月31日），阿里巴巴集团收入9963.47亿元，净利润同比增长77%至1259.76亿元。 年报显示，2025财年，阿里云服务了约63%的中国A股上市公司，阿里云模型平台"百炼"的用户数量呈现显著增长，阿里AI产品正在传统 垂直行业迅速渗透。 财年内，淘天集团客户管理收入（CMR）同比加速增长至6%。高质量消费群体88VIP会员规模增长至超5000万人，并继续展现出高留存 率。年报显示，2 ...