Summary by Moomoo AI
For the six months ended 30 September 2024, Alibaba's revenue reached RMB479.739 billion, up 5% year on year; net profit was RMB67.569 billion, up 13% year-on-year. Operating profit was RMB71.235 billion, down 6% year-on-year. Diluted earnings per share were RMB3.50, an increase of 16% year-on-year.Management noted that the revenue growth mainly came from strong performance by the International Retail Business and Cloud Intelligence Group; however, the decline in operating profit was mainly due to increased equity incentive fees and increased investment in e-commerce. Cloud Intelligence Group's Adjusted EBITA grew by 115%, demonstrating the high profitability of public cloud products. Revenue at Ali International Digital Business Group grew by 31%, but adjusted EBITA loss widened, mainly due to increased investment in Express and Trendyol.Looking ahead, Alibaba's main risks include economic volatility in China and the world, geopolitical tensions, and exchange rate volatility. The Company will continue to focus on improving operational efficiency and driving high-quality revenue growth. Management emphasizes continued investment in technology and infrastructure to support long-term growth.