Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally.
Under the company’s ‘user first, AI-driven’ strategy, the company has sharpened its business focus to two core businesses of e-commerce and cloud. The company empowers enterprises with its leading cloud and AI infrastructure and ser...
Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally.
Under the company’s ‘user first, AI-driven’ strategy, the company has sharpened its business focus to two core businesses of e-commerce and cloud. The company empowers enterprises with its leading cloud and AI infrastructure and services to facilitate their digital transformation and to support the growth of their businesses. AI technology will also enhance user value across the company’s e-commerce and other Internet platforms to transform its existing businesses.
In fiscal year 2025, the company’s businesses comprise Taobao and Tmall Group, Alibaba International Digital Commerce Group, Cloud Intelligence Group, Cainiao Smart Logistics Network Limited, Local Services Group, Hujing Digital Media and Entertainment Group and All others. An ecosystem has developed around the company’s platforms and businesses that consists of consumers, merchants, brands, retailers, enterprises, third-party service providers, strategic alliance partners and other businesses.
To advance the company’s ‘user first’ strategy and further enhance overall user experience, in fiscal year 2026 Taobao and Tmall Group, Ele.me and Fliggy will be merged into China e-commerce business group, to transform the company’s various e-commerce platforms into a comprehensive consumption platform. At the same time, Cainiao, Amap and Hujing Digital Media and Entertainment Group will be reclassified to All others.
Segments
Taobao and Tmall Group
China Commerce Retail
The company is the largest retail commerce business in the world in terms of GMV in the twelve months ended March 31, 2025. The company’s retail commerce businesses in China, primarily consisting of Taobao and Tmall, has become an important part of the daily lives of consumers in China.
Leveraging the company’s product and supply chain capabilities, as well as fulfillment and delivery expertise, its consumers can enjoy a broad variety of quality products and services at attractive prices with a wide selection of delivery options that satisfy their varying needs.
China Commerce Wholesale
1688.com, China’s largest integrated domestic wholesale marketplace in the twelve months ended March 31, 2025, by net revenue, connects wholesale buyers and sellers across a wide range of categories.
Customer Management
The company derives a majority of its China commerce retail revenue from customer management services. The company generates customer management revenue from merchants by offering an integrated package and a comprehensive solution comprising a diverse array of services to enable them to attract, engage and retain consumers, complete transactions, improve their branding and enhance operating efficiency. The customer management revenue is charged primarily on cost-per-click (CPC) basis, cost-per-thousand impressions (CPM) basis, time basis and cost-per-sale (CPS) basis (e.g., fees charged based on the GMV transacted, including commission on transactions).
Cost-per-click (CPC), Cost-per-thousand impressions (CPM) and time-based marketing and software services, where merchants primarily bid for keywords or bid to market to groups of consumers with similar profiles that match product or service listings appearing in search results or browser results through the company’s online auction system on a CPC basis or CPM basis. The company provides these services directly on its marketplaces or through collaboration with third-party marketing affiliates program.
Cost-per-sale (CPS) marketing and software services, where it charged fees from merchants when transactions are completed on Taobao, Tmall and certain other retail marketplaces of the company. The fees are generally determined as a percentage based on the value of merchandise sold by the merchants and typically range from 0.1% to 5.0% for Tmall depending on the product category. The company also implemented software service fee based on the GMV of completed transactions on its platform since September 2024.
Direct Sales and Others
Direct sales and others revenue from the company’s China commerce retail businesses is primarily generated by its direct sales businesses, as well as other revenue from logistic services and other value-added services. Direct sales revenue consists of mainly Tmall Supermarket and Tmall Global’s direct sales businesses, and primarily consists of revenue from product sales.
Alibaba International Digital Commerce Group
Alibaba International Digital Commerce Group operates various retail and wholesale platforms to empower brands, merchants and SMEs to serve global buyers and consumers through wide product selection and differentiated customer experiences.
International Commerce Retail
The company’s International commerce retail businesses, including AliExpress, Trendyol and Lazada, empower brands and merchants with local market insights and critical commerce infrastructure. AliExpress, one of the company’s international e-commerce platforms, enables global consumers to buy directly from manufacturers and distributors in China and around the world. AliExpress’ Choice provides an enhanced experience to consumers by combining better product selection, price and quality with speed of logistics and great customer support. Trendyol is the leading e-commerce platform in Türkiye in terms of GMV in 2024 according to Euromonitor and serves consumers with a broad selection of products and services. Consumers also enjoy the quality and convenient delivery services provided by Trendyol’s fulfillment and logistics networks. Beyond Türkiye, Trendyol has expanded to other valuable emerging markets, including the Gulf region, by leveraging its abundant product supply, as well as fast and reliable logistics capability. Lazada, a leading e-commerce platform in Southeast Asia, serves one of the largest markets in the global e-commerce industry by providing consumers with access to a broad range of offerings from local SMEs, as well as regional and global brands. In addition, Lazada operates one of the leading e-commerce logistics networks in Southeast Asia, which provides reliable, quality and convenient logistics services to its consumers and merchants.
International Commerce Wholesale
The company operates Alibaba.com, China’s largest integrated international online wholesale marketplace in the twelve months ended March 31, 2025 (fiscal year 2025), by revenue. During fiscal year 2025, buyers who sourced business opportunities or completed transactions on Alibaba.com were located across over 190 countries.
Cloud Intelligence Group
Cloud Intelligence Group offers a complete suite of cloud services, including computing, storage, network, security, database, big data, container and AI-related (such as computing services, model services and application), the company's serving ecosystem and beyond. The company leverages these product capabilities and technologies to provide its customers across various verticals with industry-specific solutions, enabling intelligent business decisions and operations. The company’s cloud services translate into direct and tangible results, and these services has become a critical foundation for its customers, many of whom are reputable industry leaders in their respective verticals. The company’s proprietary large model Qwen3 has been integrated into various business applications across Alibaba’s ecosystem to upgrade existing offerings. To empower enterprise customers to transform and grow through AI-driven innovation, Cloud Intelligence Group offers its clients access to Qwen model series on the cloud, enabling them to develop individualized models for their business scenarios.
The company’s Cloud businesses primarily generate revenue from the provision of public and non-public cloud services to its domestic and international enterprise customers:
Public cloud services, where the company generates revenue from a wide range of cloud services, including traditional and AI-related, such as elastic computing, storage, network, database, big data, security, cloud native and Alibaba Cloud model studio (‘Bailian’). Enterprise customers can pay for these services on a consumption or subscription basis, such as on-demand delivery of computing services and storage capacities.
Non-public cloud services, where the company generates revenue through packaged cloud services, including hardware, software license, software installation service, application development and maintenance service.
Cainiao Smart Logistics Network Limited
Cainiao has established a smart logistics network, with end-to-end logistics capabilities, on a global scale. Cainiao controls the key nodes of the logistics network to ensure service quality, efficiency and reliability, while leveraging trusted partners’ capabilities to drive scalability and capital efficiency. Cainiao provides a wide array of innovative logistics solutions in China and around the world, serving both the company’s e-commerce businesses, as well as third parties.
Local Services Group
The company leverages its proprietary mobile and online technology to enhance the efficiency, effectiveness and convenience of consumer services through Ele.me and Amap.
Ele.me, a leading local services and on-demand delivery platform in China, enables consumers to use Ele.me, Taobao and Alipay apps to order meals, food, groceries, FMCG, flowers and pharmaceutical products online.
Amap, a leading provider of mobile digital map, navigation and real-time traffic information in China, provides users with a simple one-stop access point to services such as navigation, local services and ride-hailing.
Hujing Digital Media and Entertainment Group
In May 2025, Digital Media and Entertainment Group was rebranded to Hujing Digital Media and Entertainment Group, adopting a clearer and more defined identity to better connect with users and industry partners. Hujing Digital Media and Entertainment Group is committed to its ‘Content + Technology’ dual-pronged strategy, offering omni-channel online and offline entertainment experiences to users. Alibaba Pictures was renamed as Damai Entertainment in June 2025 to further enhance its brand awareness and refresh its brand strategy across the entire entertainment ecosystem, especially in the offline entertainment market.
Hujing Digital Media and Entertainment Group is an extension of the company's strategy to capture consumption opportunities beyond its commerce businesses. Insights the company gains from its commerce businesses, and its proprietary data technology, enable it to deliver relevant digital media and entertainment content to its consumers, which drives a superior entertainment experience, increases customer loyalty, and improves monetization for content providers across the ecosystem.
Hujing Digital Media and Entertainment Group consists of the platforms of Youku and Damai Entertainment. Youku, a leading online long-form video platform in China, provides users with captivating online media and interactive experience through its high-quality content, and promotes the transformation of the media industry by applying AI technologies. Damai Entertainment provides content production, promotion and distribution, performance and event ticketing management, intellectual property-related licensing and commercial operation, cinema ticketing management and Internet data services for the entertainment industry. Through Youku and Damai Entertainment, Hujing Digital Media and Entertainment Group extends its reach across online and offline entertainment channels, allowing users to discover and enjoy content, as well as interact with each other.
All Others
The company continues to innovate and develop new service and product offerings with the aim of addressing the evolving needs of its customers, improving efficiency in their daily lives and creating synergies among the company’s ecosystem participants. DingTalk is the company’s intelligent collaboration workplace and enterprise management platform that offers new ways of working, sharing and collaboration for enterprises and organizations in the AI era. Quark is a leading AI-powered information services platform in China and provides users with a one-stop platform for information search, storage, and consumption with its suite of AI-enabled tools and services.
Ecosystem
An ecosystem has developed around the company’s platforms and businesses, consisting of consumers, merchants, brands, retailers, enterprises, third-party service providers, strategic alliance partners and other businesses. At the nexus of this ecosystem are the company’s technology platform, its marketplace rules and the role the company plays in connecting these participants to make it possible for them to discover, engage and transact with each other and manage their businesses anytime and anywhere. Much of the company's effort, time and energy is spent on initiatives that are for the greater good of the ecosystem and on balancing the interests of its participants. The company feels a strong responsibility for the continued development of the ecosystem and the company take ownership in this development. Accordingly, the company refers to this as 'its ecosystem'. The company's ecosystem has strong self-reinforcing network effects benefiting its various participants, who are in turn invested in the company's ecosystem's growth and success.
Strategies
The company continues to strive to strengthen its leadership and build core capabilities in two strategic areas: consumption and ‘AI + Cloud.’
Businesses
Taobao and Tmall Group
China Commerce Retail
The company operates the largest retail commerce business in the world in terms of GMV in the twelve months ended March 31, 2025. The company’s retail commerce businesses in China, primarily consisting of Taobao and Tmall, has become an important part of the daily lives of consumers in China. Consumers can access the company’s various marketplaces, channels, features and content within its ecosystem through the Taobao app. Empowered by the company’s commerce technologies and services, it appeals to a massive consumer base by providing them with diversified and comprehensive offerings at attractive prices supported by quality services.
Consumers
The company serves a large and diversified consumer base in China, across both large cities and less-developed areas, and it continues to grow its user base. The company’s platforms continue to appeal to consumers at various income levels and address all aspects of consumption needs. The company focuses on enhancing user experience on its platform, which has driven increased consumer engagement over time. Generally, the longer the consumers have been with the company, the more orders they tend to place across a more diverse range of product categories. 88VIP members, its highest spending consumer group, showed a similar level of retention rate in fiscal year 2025 compared to that of fiscal year 2024.
Products and Services
The company’s ecosystem offers the most comprehensive range of products and services among global commerce platforms to meet the diverse demands of its massive and diversified consumer base across different segments. The company has developed a digital commerce infrastructure that offers an upgraded consumer experience by seamlessly integrating online and offline capabilities for its marketplaces and direct sales businesses. Leveraging the company’s product and supply chain capabilities, consumers can enjoy a broad variety of quality products, such as branded products, imported goods, products sourced directly from manufacturers and farms, as well as idle goods. The company has also developed logistics expertise and capabilities that allows it to offer a full range of high-frequency fulfillment services to satisfy consumer demand. The company’s comprehensive delivery options include on-demand delivery, half-day delivery, same-or-next-day delivery and next-day pick-up services, which capture the varying needs of consumers living in large cities and less-developed areas. The company’s key businesses are:
Taobao and Tmall
Taobao means ‘search for treasure’ in Chinese. Taobao serves as the starting point and destination portal for many users’ shopping journey and provides a top-level traffic funnel that directs users to the various marketplaces, channels and features within the company’s ecosystem. Through the Taobao app, consumers can also access display listings from Tmall merchants and brands, as well as the company’s various other marketplaces. Consumers from both large cities and less-developed areas come to Taobao to enjoy an engaging and personalized shopping experience, optimized by the company’s data analytics and technology.
Tmall caters to consumers’ demand for high-quality products and premium shopping experience. A large number of international and Chinese brands and retailers have established storefronts on Tmall. Tmall is the partner of choice for brands. Brands and retailers operate their own storefronts on Tmall with unique brand identities and look and feel, accompanied by full control over their own branding and merchandising. Because of the presence of a large number of brands and the stringent standards required for merchants, brands and retailers to join and operate on Tmall, a presence on Tmall has become a validation of quality, allowing merchants, brands and retailers to take advantage of the company’s significant traffic to extend and build brand awareness and customer engagement. Major international brands that have physical operations in China are well represented on Tmall.
Tmall Global
Tmall Global addresses the increasing demand of consumers in China for international products and brands. Tmall Global serves as the premier platform through which overseas brands and retailers reach consumers in China, build brand awareness and gain valuable consumer insights to form their overall China strategies, without the need for physical operations in China.
Tmall Supermarket
Tmall Supermarket offers daily necessities, FMCG and general merchandise through Taobao app with same-or-next-day delivery services. By leveraging the company’s technology capabilities and consumer insights, Tmall Supermarket facilitates the digital transformation of its offline partners, enhancing their supply chain management capabilities.
Xianyu
Xianyu is China’s largest consumer-to-consumer community and marketplace for idle goods, in terms of GMV for the twelve months ended March 31, 2025. Through Xianyu, consumers can find a wide variety of second-hand goods, recycled goods, consignment, items for rent, and long-tail products, offered by individual users and small businesses.
Consumer Experience
The company intends to provide an immersive and personalized shopping experience with engaging content and quality service to its consumers. The massive amount of user and merchant activities taking place every day on the company’s China commerce retail platforms generate significant consumer insights. By leveraging proprietary AI and data technologies, the company is able to aggregate and build on deep consumer insights to provide more accurate search results and relevant recommendation feeds that enhance the shopping experience for its consumers. The company’s various commerce platforms also enable merchants to engage with consumers through a variety of formats, including livestreaming, short-form videos, interactive games and microblogs. The company continues to introduce interactive features and innovative formats to facilitate user engagement with brands, merchants and content creators. Along with these features and formats, its relevant and engaging entertainment content plays an important role in consumers’ product discovery process and shopping journey and drives user stickiness and retention on the company’s various platforms. In addition, the company adopted a more open approach for payment and logistics services to make shopping on its platform more convenient to a larger base of consumers as part of the company’s commitment to providing consumers with quality services which is key to its ‘user first’ strategy.
Branding and Monetization Platforms
Alimama, the company’s Proprietary Monetization Platform
Alimama is the company’s monetization platform. Using the company’s proprietary technology, this platform matches the marketing demands of merchants, brands and retailers on all of the platforms in its ecosystem with the media resources on the company’s own platforms and third-party properties. The platform supports P4P marketing and software services based on keyword search rankings, in-feed marketing targeting different groups of consumers, or display marketing at fixed positions that are bid on through auctions, as well as cost per thousand impression (CPM)-based, time-based marketing formats, or individual campaigns at fixed cost, through the display of photos, graphics, videos and livestreaming.
The ranking of P4P search results on the company’s marketplaces is based upon proprietary algorithms that take into account the bid price of keywords, the popularity and quality of an item, service or merchant, as well as customer feedback rankings of the merchant or service provider. The company’s in-feed and display marketing and software services take these factors into consideration, along with other consumer insights generated across its ecosystem, to further deliver an engaging and relevant content discovery process and shopping experience to the company’s consumers through livestreaming, short-form videos, interactive games and other formats. The relevance and comprehensiveness of insights based on commercial activity and user activity in the company’s ecosystem, as well as its AI capabilities, such as Quanzhantui which provide a unique advantage for Alimama to deliver the most relevant information to users through highly engaging content and effective format, which in turn enables merchants to improve their efficiency and ensure their sustainable development on the company’s platform.
Alimama also has an affiliate marketing program that places marketing displays on third-party apps and websites, thereby enabling marketers, if they so choose, to extend their marketing and promotional reach to properties and users beyond the company’s own platforms. The company’s affiliate marketing program not only provides additional traffic to its marketplaces, but also generates revenue to the company.
Alimama operates Taobao Ad Network and Exchange, or TANX, one of the largest real-time online bidding marketing exchanges in China. TANX helps publishers monetize their media inventories both on mobile apps and web properties. TANX automates the buying and selling of tens of billions of marketing impressions daily.
China Commerce Wholesale
1688.com
1688.com, China’s largest integrated domestic wholesale marketplace in the twelve months ended March 31, 2025, by net revenue, provides sourcing and online transaction services by connecting manufacturers and wholesale sellers to wholesale buyers in China. These manufacturers, wholesale sellers and wholesale buyers typically trade office supplies, apparel, accessories, packaging materials, kitchen appliances, sports and outdoor, among other categories. Sellers may purchase a China TrustPass membership for an annual subscription fee to list items on 1688.com, reach customers, provide quotations and transact on the marketplace without any additional charges. In fiscal year 2025, the number of paying members maintained stable growth and exceeded 1 million. Paying members may also pay for premium memberships and value-added services, such as premium data analytics and upgraded storefront management tools, as well as customer management services, such as P4P marketing and software services from the website and app. In fiscal year 2025, value-added services and customer management services together contributed the majority of 1688.com’s total revenue.
Alibaba International Digital Commerce Group
Alibaba International Digital Commerce Group operates various retail and wholesale platforms, including AliExpress, Trendyol, Lazada, and Alibaba.com.
International Commerce Retail
In fiscal year 2025, the company’s international commerce retail businesses together achieved 33% revenue growth, primarily driven by strong performance in cross-border operations and supported by technological innovation, business model enhancement, supply chain upgrade and enhanced consumer experience.
AliExpress
AliExpress is a global e-commerce platform targeting consumers around the world and enabling them to buy directly from manufacturers and distributors in China and around the world. Consumers can access the marketplace through AliExpress’ mobile app or websites. As of March 31, 2025, AliExpress covered over 200 countries and regions globally.
AliExpress continues to expand its regional merchant networks and supply chains to make available more localized products and better services for consumers in their respective regions. AliExpress’ Choice provides an enhanced experience to consumers by combining better product selection, price and quality with speed of logistics and great customer support. Consumers in selected countries can enjoy free shipping, free returns, and delivery quality guarantees.
Trendyol
Trendyol is the leading e-commerce platform in Türkiye in terms of GMV in 2024 and serves consumers with a broad selection of products and services. Consumers also enjoy quality and convenient delivery services provided by Trendyol’s fulfillment and logistics networks. Beyond Türkiye, Trendyol has expanded to other valuable emerging markets, including the Gulf region, by leveraging its abundant product supply and fast and reliable logistics capability.
Lazada
Lazada, a leading e-commerce platform in Southeast Asia, serves one of the largest markets in the global e-commerce industry by providing consumers with access to a broad range of offerings from local SMEs, and regional and global brands. Additionally, Lazada operates one of the leading e-commerce logistics networks in Southeast Asia, serving its consumers and merchants with reliable, quality and convenient logistics services that are critical to online shopping experience in Southeast Asia. In fiscal year 2025, Lazada’s unit economics continued to improve year-over-year.
International Commerce Wholesale
Alibaba.com is China’s largest integrated international online wholesale marketplace in terms of revenue in the twelve months ended March 31, 2025. It connects Chinese and overseas suppliers to overseas wholesale buyers, who are typically trade agents, wholesalers, retailers, manufacturers and SMEs engaged in the import and export business, and provides them with sourcing, online transaction, digital marketing, digital supply chain fulfillment and financial services.
Sellers on Alibaba.com may purchase an annual membership to reach customers, provide quotations and transact on the marketplace. As of March 31, 2025, Alibaba.com had over 240,000 paying members from China and around the world. Sellers may also purchase additional value-added services to manage product listings and facilitate transaction processes, such as upgraded storefront management tools, customer relationship management SaaS services, trade assurance and logistics fulfillment services, as well as customer management services, such as P4P marketing and software services from the website and app. In fiscal year 2025, value-added services and customer management services together contributed the majority of Alibaba.com’s total revenue. Additionally, during the same period, over 49 million buyers from over 190 countries sourced business opportunities or completed transactions on Alibaba.com.
During fiscal year 2025, the company released its AI-enabled business-to-business search engine, intends to innovate the business-to-business experience by leveraging AI technology while empowering SMEs to more effectively engage in global trade.
Cloud Intelligence Group
The technologies that power Cloud Intelligence Group originally grew out of the massive scale and complexity of the needs of the company’s China commerce businesses, which encompass commerce, payments and logistics. Leveraging the company’s full-stack cloud capabilities and proprietary products portfolio, Cloud Intelligence Group offers a comprehensive suite of cloud services based on a three-tiered architecture of infrastructure-as-a-service (IaaS), platform-as-a-service (PaaS) and model-as-a-service (MaaS) to customers worldwide. These services not only enable its customers to build a flexible, scalable, affordable and secure technology infrastructure, but also equip them with leading data capabilities that efficiently handle complex management, analytics and machine learning tasks, thereby generating significant business insights and enabling intelligent business decisions and operations. The company leverages these capabilities and technologies to support its ecosystem and provide the company’s customers across various verticals with industry-specific solutions, including those for commerce, financial services and industrial applications. In addition, as part of the company’s globalization strategy, Cloud Intelligence Group continued to expand its international cloud computing infrastructure to better serve the company’s customers’ needs in overseas markets. As of March 31, 2025, Cloud Intelligence Group offered computing services in 34 regions globally.
In April 2025, the company launched the Qwen3 series, a new generation of hybrid reasoning models that combine the capabilities of fast, simple responses and deeper chain-of-thought reasoning into a single model.
The company’s self-developed distributed deep learning platform, Platform for AI (PAI), and its Lingjun Intelligent Computing Service adopt leading software-hardware integrated optimization technology, which feature large-scale cluster scalability, as well as outstanding acceleration ratio and stability in large model training. The company’s data centers utilize a leading distributed fault-tolerant architecture, advanced self-developed power and cooling equipment, AI-driven intelligent monitoring and operation technologies to provide reliable support, with high elasticity and high-density capabilities, to its intelligent computing business. Combined with a high proportion of clean energy use, the company’s data centers provide stable, secure, efficient, agile, and green infrastructure services.
Cloud Intelligence Group’s unique advantages lie in the company’s proprietary technology and continued commitment to invest in research and development of new product offerings and industry-specific solutions for its customers and partners. Cloud Intelligence Group continues to attract customers that are reputable and have the potential to adopt cloud services at a meaningful scale. In fiscal year 2025, Cloud Intelligence Group served approximately 63% of A-share listed companies in China. As digital transformation accelerates, the company’s customers, especially those from traditional verticals, have increased their usage of its cloud services. The company’s cloud services have become a critical foundation that many of its customers increasingly depend on in their daily operations.
Cainiao Smart Logistics Network Limited
Cainiao has established a smart logistics network, with end-to-end logistics capabilities, on a global scale. Cainiao controls the key nodes of the logistics network to ensure service quality, efficiency and reliability, while leveraging trusted partners’ capabilities to drive scalability and capital efficiency. Cainiao provides a wide array of innovative logistics solutions in China and around the world, serving both the company’s e-commerce businesses, as well as third parties.
International Logistics
The company’s international logistics business offers three main services: cross-border express delivery, global supply chain and overseas local logistics services. The company provides a comprehensive suite of cross-border express delivery solutions primarily for merchants, brands and e-commerce platforms selling goods from and into China. The company also provides one-stop global supply chain solutions that enable efficient global inventory deployment and order fulfillment and empower brands and merchants to offer a close-to-local retail experience for consumers.
China Logistics
The company offers brands and merchants a suite of end-to-end standardized supply chain solutions that can be applied on a massive scale across various industries, as well as certain vertical solutions to address the unique requirements of products that need special handling. Cainiao supports brands and merchants for their sales through various e-commerce platforms operated by it, such as Taobao and Tmall, as well as a wide array of other e-commerce platforms, digital and offline channels, and serves Tmall Supermarket, a direct sales channel the company operates.
Technology and Other Services
Cainiao offers a wide array of technology and other services to remove logistics hurdles and address unfulfilled customer needs. Cainiao offers a suite of practical and cost-effective logistics technology solutions, encompassing automation, digital supply chain and smart hardware solutions, to improve efficiency and cost-effectiveness across the logistics value chain.
Local Services Group
The company leverages its proprietary mobile and online technology to enhance the efficiency, effectiveness and convenience of consumer services through Ele.me and Amap. In fiscal year 2025, Local Services Group recorded healthy order volume growth year-over-year, with losses significantly narrowed due to improving operating efficiency and business scale.
Ele.me, a leading local services and on-demand delivery platform in China, enables consumers to use Ele.me, Taobao and Alipay apps to order meals, food, groceries, FMCG, flowers and pharmaceutical products online. In addition, Fengniao Logistics, Ele.me’s on-demand delivery network, provides last-mile logistics services for Alibaba Health and brands, including delivery of meals, food, groceries, FMCG and pharmaceutical products. Ele.me leverages AI to help merchants set up online stores within minutes and improve operating efficiency, while providing delivery riders with AI-powered voice assistance that supports multiple delivery scenarios, enhancing safety, efficiency and the overall delivery experience. In fiscal year 2025, Ele.me’s losses significantly narrowed driven by improving operating efficiency and business scale.
Amap, a leading provider of mobile digital map, navigation and real-time traffic information in China, provides users with a simple one-stop access point to services, such as navigation, local services and ride-hailing. Amap enhances navigation experience through AI-powered geographic modeling and voice agent and provides informative services by leveraging AI generated content. In addition, Amap provides digital map data, navigation software and real-time traffic information to automobile manufacturers, as well as aftermarket consumers in China. Amap also empowers major platforms and infrastructural service providers, including the company’s China commerce retail platforms, Cainiao and Alipay. During National Day holiday in October 2024, Amap recorded an all-time high of over 300 million peak daily active users. As part of Amap’s global expansion, Amap has also seen a surge in adoption among users outside Chinese mainland.
Hujing Digital Media and Entertainment Group
Hujing Digital Media and Entertainment Group leverages the company’s deep consumer insights to serve the broader interests of consumers through Youku and Damai Entertainment, which provide comprehensive entertainment offerings, including online videos, films and live events, among others.
Youku
Youku, a leading online long-form video platform in China, produces and distributes high-quality video content, enabling users to search, view and share such content quickly and easily across multiple devices. The Youku brand is among the most-recognized online video brands in China.
Insights the company gains from its ecosystem and the company’s proprietary technology enable Youku to leverage AI technology to deliver relevant and captivating content to its users. ‘The Double’, which was distributed exclusively by Youku, ranked no. 2 by online views among all television series aired on online video platforms during fiscal year 2025.
The company offers a diverse range of digital media and entertainment content using a sustainable production and acquisition approach. First, the company provides self-produced content. Second, the company jointly produces content with studios, some of which are distributed exclusively on its platforms. Third, the company acquires rights to display content on its digital media and entertainment platforms pursuant to licensing agreements with rights holders. Lastly, the company offers an open platform on which user-generated content and professional-generated content are produced and distributed.
Damai Entertainment
Damai Entertainment has a diversified business model, providing content production, promotion and distribution, performance and event ticketing management, IP-related licensing and operations, cinema ticketing management, as well as data services for the entertainment industry. Damai Entertainment’s subsidiary Damai is a comprehensive live performances service provider in China, providing ticketing management for events, including concerts, plays and sports events. In fiscal year 2025, Damai maintained its leading position in the concert ticketing industry by serving almost all large-scale concerts in China and recorded rapid year-over-year GMV growth. In addition, Damai Entertainment continues to tap into high-quality IP and explore IP commercialization.
All Others
All others include Freshippo, Alibaba Health, Lingxi Games, Intelligent Information Platform (which mainly consists of UCWeb and Quark businesses), Fliggy, DingTalk, Sun Art, Intime and other businesses. In fiscal year 2025, the sale of Sun Art was completed and the sale of Intime was substantially completed.
DingTalk
DingTalk is the company’s intelligent collaboration workplace and enterprise management platform that offers new ways of working, sharing and collaboration for enterprises and organizations in the AI era. Millions of enterprises and users use DingTalk to stay connected and work remotely. In March 2025, DingTalk’s average paying weekly active users was 42 million. DingTalk is the largest business efficiency mobile app in China by monthly active users in March 2025.
DingTalk provides a comprehensive suite of solutions for enterprise collaboration, including real-time communication, organizational management and various network collaboration tools, such as office automation, human resources management, workflow management, collaborative editing of cloud documents, video conference and calendars. Enterprises can also enjoy convenient access to a broad range of applications, including those offered by third-party service providers, that are seamlessly integrated with DingTalk’s platform. In addition, DingTalk offers a low-code development infrastructure that enables enterprises to develop customized solutions in a more convenient manner. DingTalk has also introduced a suite of AI products and AI agents leveraging Alibaba’s Qwen model series, enabling enterprises to harness AI technology on DingTalk. DingTalk is committed to revolutionizing intelligent working in the AI era, empowering global enterprises to embrace AI.
Quark
Quark is a leading AI information services platform in China. As of the end of fiscal year 2025, Quark’s monthly active users exceeded 200 million, representing rapid year-over-year growth. Quark leverages generative AI technology to develop various tools and services, including intelligent search, Quark cloud drive, AI camera, Quark learning and Quark documents. Quark provides users with comprehensive one-stop offerings for information search, processing, consumption and storage, which enable users to efficiently and conveniently access and manage diverse digital content relevant to their studies, work and daily lives.
Freshippo
Freshippo, the company’s new retail platform for groceries and fresh goods, integrates advanced technology and AI to redefine a healthy and convenient retail experience. Leveraging its excellent product innovation and research and development capabilities, robust supply chain management and multi-layer and multi-temperature logistics and fulfillment infrastructure, Freshippo continues to optimize its product matrix and build up private label offerings to deliver high-quality and healthy selections for consumers. By embedding AI capabilities across the entire retail value chain, Freshippo is building a new consumption paradigm by seamlessly integrating online and offline retail experiences and continues to drive operating efficiency through technology. In fiscal year 2025, Freshippo strategically focused on selected retail formats and expanded footprints to additional emerging cities and counties, which continues to strengthen the brand’s reputation among consumers. Freshippo Supermarket, one of Freshippo’s core retail format, operates over 420 stores with online transactions contributing more than 60% of Freshippo Supermarket’s GMV in fiscal year 2025.
Alibaba Health
Alibaba Health is the company’s flagship platform in the healthcare sector, deeply integrates AI technology with pharmaceutical and healthcare service capabilities across the entire value chain. Alibaba Health has built an intelligent healthcare ecosystem that seamlessly combines online and offline capabilities. With a focus on user needs, the company leverages AI technology to empower the intelligent transformation of medical and doctor services, enhancing the accessibility of pharmaceutical and health products, as well as service efficiency. In addition, the company actively explores innovative approaches for ‘AI+Healthcare’ industry transformation.
Sales and Marketing
The company’s sales and marketing efforts emanate from the fundamental pillars that constitute its ecosystem, which include Taobao and Tmall Group, Alibaba International Digital Commerce Group, and Cloud Intelligence Group. The company has wide consumer recognition of its brands and enjoy significant organic traffic through word-of-mouth. In addition, the company continues to improve its user experience by enriching interactive content, broadening the assortment of value-for-money products and investing in membership program benefits under the company’s ‘user first’ strategy. By expanding the company’s payment and logistics options, it is making shopping on the company’s platform more convenient to a larger and more diversified user base. During fiscal year 2025, the company enhanced its marketing efforts, such as by organizing a highly coordinated marketing and promotional campaign for the 11.11 Global Shopping Festival and AliExpress’ Black Friday promotion, to expand the company’s user base both within China and abroad. The company also expects to enhance its monetization capability through leveraging the company’s AI and data technologies to develop and offer more personalized and innovative services, to improve customer experience and wallet share. Furthermore, the company’s major business segments and other elements in its ecosystem provide synergistic advantages and create cross-promotional opportunities.
The company’s Cloud business remains committed to continually upgrading its products and services to better facilitate the digital transformation and long-term sustainable growth of the company’s customers. The company has established a professional in-house sales team that works closely with its solution architects and product team to provide product recommendation and services to its customers. The company also conducted a variety of marketing activities to promote its brand and products and grow the company’s customer base on an ongoing basis.
Seasonality
Historically, the company has experienced seasonal fluctuations mainly in its commerce businesses. The company’s China commerce businesses typically record the highest levels of revenues in the fourth calendar quarter of each year (year ended March 31, 2025) due to a number of factors, including merchants allocating a significant portion of their online marketing budgets to the fourth calendar quarter, promotions, and the impact of seasonal buying patterns in respect of certain merchandise categories such as apparel. The company also typically records lower levels of revenues in the first calendar quarter of each year due to a lower level of allocation of marketing budgets by merchants early in the calendar year and during the Chinese New Year holiday, during which time consumers generally spend less and businesses in China are generally closed. The company’s international commerce businesses are also subject to seasonal fluctuations depending on the markets it operates in.
Regulation
The principal regulations governing advertising businesses in China are the Advertising Law of the PRC (2021, as amended); the Advertising Administrative Regulations (1987, as amended); the Administrative Regulations on Internet Information Search Services (2016); and the Administrative Measures for Internet Advertising (2023). These laws, rules and regulations require companies, such as the company’s that engage in advertising activities to obtain a business license that explicitly includes advertising in the business scope from the SAMR, formerly the SAIC, or its local branches.
The company is subject to various laws and regulations in connection with providing online audio/video programs and livestreaming via its platform. For example, according to the Rules for the Administration of Internet Audio and Video Program Services, commonly known as Circular 56, jointly issued by the State Administration of Radio, Film, and Television, or the SARFT, and the MIIT, all online audio/video service providers are generally required to be either wholly state-owned or state-controlled.
In addition, under the Online Trading Measures, as an operator of an online trading platform, the company must adopt measures to ensure safe online transactions, protect consumers’ rights and prevent unfair competition.
The company’s online and mobile commerce business is subject to a variety of consumer protection laws, including the PRC Consumer Rights and Interests Protection Law, as amended and effective on March 15, 2014, and the Online Trading Measures, both of which has imposed stringent requirements and obligations on business operators, including Internet business operators and platform service providers like the company.
History
Alibaba Group Holding Limited was founded in 1999. The company was incorporated in the Cayman Islands in 1999.
