阿里巴巴-W2025 财务年度中期报告

紐交所代碼：BABA港交所代號：9988（港幣櫃台）89988（人民幣櫃台） 2025財務年度中期報告 425293438394244 95%2024 2024 7.01761.002024930H.100.901791.002024930 1995(U.S. PrivateSecurities Litigation Reform Act of 1995) (1) 20239306,901 (4) (6)%% 9 2024930479,73968,3622023458,9465% (2)UC EBITA EBITA (1)UC (2) (3)EBITA%EBITA%EBITA% (i) • 2024930200,42928,5612023202,3881%8% 1%GMVTake rateTake rateGMV 202493049,9507,118202354,0668% 202493011,9381,701202310,21917% (ii)EBITA 2024930EBITA93,40013,309202396,3963% (i) 202493056,1598,003202352,7137%7%AI (ii)EBITA 2024930EBITA4,99871220232,325115%AI (i) • 202493049,3097,026202336,11637%ChoiceTrendyol 202493011,6561,661202310,51811% (ii)EBITA 2024930EBITA6,6119422023804TrendyolLazada (i) 202493051,4587,333202345,98712% (ii)EBITA 2024930EBITA6739620231,78362% (i) 202493033,9544,838202330,01413% (ii)EBITA 2024930EBITA77711120234,546 (i) 202493011,2751,607202311,1601% (ii)EBITA 2024930EBITA281402023138 (i) 202493099,17914,133202393,8506% (ii)EBITA 2024930EBITA2,84540520233,170 9 2024930290,13541,34460.5%2023282,01161.4%202393061.2%202493060.2% 202493027,5553,9275.7%202324,6835.4%20239304.8%20249305.0% 202493065,1679,28613.6%202352,53211.4%202393011.3%202493013.4% 202493023,0573,2854.8%202316,7053.6%20239303.5%20249304.3% 20249308,2771,17920235,201 (1)(2)(3)(4) (1)(2)(3)(4) 20249302023 2023930 20249303,44149020234,91030% 20239302,031 202493071,23510,15115%202376,07417%6%20239306,901 EBITDAEBITA 2024930EBITDA98,48814,0342023101,2893%2024930EBITA85,59612,197202388,2163% EBITA EBITAEBITA9 202493017,1292,4412023762 20249301,221174 20232,755 202493017,4422,485202311,819 20249302,48335420232,914 202493067,5699,629202359,696 202493077,20911,002202385,1109% 202493068,1439,710202362,038 202493028.003.99202324.08202493031.504.49202333.005% 20249303.500.503.8820233.0120249303.940.564.3720234.135% 2024930554,37878,9982024331617,230202493072,88910,38729,0224,13619,9472,84231,1074,43331,0654,427 202493065,0749,273202394,53731%202493031,1074,433202384,30963% 202493034,8654,968(i)113,38716,158(ii)29,5854,216(iii)5,807827(i)105,47015,029(ii)6,509928 202493086,36412,30772,88910,38729,0224,13619,9472,84231,0654,427 2024930197,9912024331204,891 EBITAEBITDA EBITAEBITDA (1) (1) (1) (3) (4) EBITDAEBITDAEBITAEBITA EBITDAEBITAEBITDAEBITA EBITDAEBITA EBITDA EBITA 2023202493094,53765,0749,2732024930554,37878,998 12 20245502031 20241126.5170 EBITDA12EBITDA20243312024930EBITDA0.891.07 202493033%20249302,630375 2024930 2024930 2024104006% 2024331202493034,05627,767 2024930 (i)(ii)(iii) 2023202493012,07729,5854,216 2024331202493018,37223,9973,420 2024930 †(a)2027(b)2025(c)2026 199920132023919951999(Wallenberg)Investor ABRosecliff, Inc.19901993Sullivan & Cromwell LLP 202392023122024112023919992004122005112007122008920111020154202110201542020320149201992015819966 J. Michael EVANS2015820149Evans20082201312Evans200420132011120131220102013Evans19931994EvansEvans1981 2020920077Alibaba.com201352022320196202232010(FinanceAsia)CFO2018100 201492005102012120123AME Cloud Ventures1995320121(Chief Yahoo!)2007620091199612012120007201211201411202311Workday Inc.2017102021720052015 Wan Ling MARTELLO2015920202BayPineBayPine20155201812Martello201242015520111120123Martello20052011MartelloNCH19982005NCHBordenUber Technologies, Inc.Stellantis N.V.Martello 20223(PAG)201019982010TPGTPG199319981987199320182021 20228AustralianTakeovers Panel(JP Morgan Australia)20224Citibank(Commonwealth Bank of Australia)Smith CollegeGrays Inn202211 202282022122007420206(HKICPA)(CAANZ)(CPAA)(ACCA) Kabir MISRA2020920232RPS Ventures201810KabirSoftBank Investment AdvisorsSoftBank Vision FundSoftBank Capital2006202220182022KabirFlipkartPaytm TokopediaCoupangBigCommerceKabirKabirPayActivCargomatic(Stanford Graduate School of Business) Wan Ling Martello Kabir Misra Kabir MisraJ. Michael Evans J. Michael Evans (a)XV78XV(b)352(c) XV23336 20249302024 1.L2.83.202493019,159,821,49220249304.(i)630,400(ii)10,672(iii)1,280,000(iv) Joe and Clara Tsai Foundation Limited13,907,176Joe and Clara Tsai Foundation(v) Parufam Limited 147,385,672(vi) PMH Holding Limited113,539,1685.(i)599,752(ii)1,280,00016,000,000(iii)108,000(iv)12,320,0006.(i) J. Michael EVANS76,192(ii)J. Michael EVANS1,360,40017,200,0007.(i)3,431,224(ii)102,408(iii)7,600,000 2024930XV78XV352 1.LSP 2.8 3.202493019,159,821,4922024930 4.JPMorgan Chase & Co.2024926(a) 849,539,881681,445,750JPMorgan Chase & Co.(b) 4,089,584JPMorgan Chase & Co.(c)JPMorgan Chase & Co.(i) 39,177,04271,377,100(ii) 2,649,5126,317,786(iii) 46,985,53429,942,898(iv) 293,605,866231,357,167(v) 79,503,54714,988,037 5.Shiodome Project 17 GK2024828(a) 2,296Shiodome Project 17 GK(b)Shiodome Project 17 GK2,195,000,000 6.SoftBank Group Corp.2024926(a) 3,788,048SoftBank Group Corp.(b)SoftBank Group Corp.ShiodomeProject 17 GK2,293,605,600 7.2024926(i) 338,899,950327,796,944(ii) 2,6601,818,482(iii) 405,516,259378,234,014(iv)13,725,76687,245,