<p>阿里巴巴集团（BABA）已举行其第二季度财报电话会议。请继续阅读会议的主要亮点。</p>
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<p>在最新的财报电话会议上，阿里巴巴集团展现了混合的前景，强调了由其云计算和电子商务部门驱动的强劲收入增长。公司还庆祝了在人工智能和快速商业方面的重大成就。然而，财务形势因 EBITA、净收入和现金流的显著下降而受到影响，这主要归因于战略投资，突显了未来的财务挑战。</p>
<h2>收入增长</h2>
<p>阿里巴巴报告称，剔除大润发和银泰后，总收入同比增长 15%。这一增长主要得益于中国电子商务客户管理收入（CMR）增长 10% 以及云智能收入增长 34%。这些数据凸显了阿里巴巴在电子商务和云计算领域的强大立足点。</p>
<h2>云部门表现</h2>
<p>云部门表现突出，阿里云的收入增长了 34%。这一增长得益于强劲的人工智能需求，外部客户收入加速增长 29%。与人工智能相关的产品连续九个季度实现了三位数的增长，突显了阿里巴巴在人工智能方面的战略重点。</p>
<h2>Qwen 应用的推出</h2>
<p>阿里巴巴通过推出 Qwen 应用进一步展示了其对人工智能的承诺，这是一款先进的个人人工智能助手。该应用在公开测试的第一周内达到了超过 1000 万次下载，展示了公司在企业和消费者市场中整合人工智能的决心。</p>
<h2>快速商业业务扩展</h2>
<p>快速商业业务的收入增长了 60%，这得益于单位经济的改善、更高的平均订单价值和规模的扩大。这一增长促进了淘宝应用的月活跃消费者基础的增加，反映了阿里巴巴在这一领域的战略投资。</p>
<h2>Amap 用户参与度</h2>
<p>阿里巴巴的地图服务 Amap 达到了历史最高的 3.6 亿日活跃用户。Amap Street Stars 功能的推出显著提升了用户参与度，展示了阿里巴巴提升用户体验和参与度的能力。</p>
<h2>EBITA 和净收入下降</h2>
<p>尽管收入增长，阿里巴巴的总调整 EBITA 下降了 78%，GAAP 净收入下降了 53%。这些下降主要是由于在快速商业、人工智能和云基础设施方面的战略投资，突显了这些业务的财务压力。</p>
<h2>经营现金流下降</h2>
<p>经营现金流报告为人民币 101 亿元，较去年同期减少人民币 213 亿元。这一下降归因于战略投资的增加，特别是在快速商业领域。</p>
<h2>自由现金流流出</h2>
<p>阿里巴巴报告自由现金流流出为人民币 218 亿元，反映了在快速商业和人工智能及云基础设施方面的重大投资。这一流出突显了公司旨在实现长期增长的激进投资策略。</p>
<h2>其他所有部门收入下降</h2>
<p>所有其他部门的收入下降了 25%，主要是由于大润发和银泰业务的处置。该部门报告的调整 EBITA 亏损为人民币 34 亿元，表明这些领域面临挑战。</p>
<h2>前瞻性指导</h2>
<p>展望未来，阿里巴巴对利用人工智能和云技术推动长期增长持乐观态度。尽管战略投资带来了财务挑战，公司仍旨在通过其广泛的生态系统将人工智能融入日常生活。阿里巴巴对与人工智能相关的产品和快速商业的关注预计将继续推动收入增长。</p>
<p>总之，阿里巴巴的财报电话会议描绘了云计算和电子商务等关键领域的强劲增长，以及在人工智能方面的重大成就。然而，战略投资带来的财务挑战显而易见，EBITA、净收入和现金流均出现下降。随着阿里巴巴继续关注人工智能和云技术，公司仍然有望实现长期增长，尽管面临一些财务障碍。</p>

阿里巴巴

阿里巴巴-W

2 倍做多阿里巴巴 ETF - KraneShares

BABO

2 倍做多 BABA ETF - GraniteShares

<p>阿里巴巴第二季度的财报电话会议强调了云计算和电子商务的强劲收入增长，同比增长 15%。云计算部门增长了 34%，主要受人工智能需求的推动。然而，由于在人工智能和快速商业领域的战略投资，EBITA 和净收入分别下降了 78% 和 53%。运营现金流和自由现金流也有所下降。尽管面临财务挑战，阿里巴巴对利用人工智能和云技术实现长期增长仍持乐观态度</p>

<p>Alibaba Group ((BABA)) has held its Q2 earnings call. Read on for the main highlights of the call.</p>
<div class="lb-trans"><p>阿里巴巴集团（BABA）已举行其第二季度财报电话会议。请继续阅读会议的主要亮点。</p>
</div><h3>Claim 50% Off TipRanks Premium and Invest with Confidence</h3>
<div class="lb-trans"><h3>享受 TipRanks Premium 50% 折扣，信心投资</h3>
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<li>Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions</li>
<li>Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential</li>
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<li>解锁对冲基金级别的数据和强大的投资工具，帮助您做出更聪明、更精准的决策</li>
<li>通过最新的新闻和分析保持市场领先，使您的投资组合始终处于最大潜力的状态</li>
</ul>
</div><p>In the latest earnings call, Alibaba Group presented a mixed outlook, highlighting robust revenue growth driven by its cloud and e-commerce segments. The company also celebrated significant achievements in AI and quick commerce. However, the financial landscape was marred by notable decreases in EBITA, net income, and cash flow, primarily attributed to strategic investments, which underscore the financial challenges ahead.</p>
<div class="lb-trans"><p>在最新的财报电话会议上，阿里巴巴集团展现了混合的前景，强调了由其云计算和电子商务部门驱动的强劲收入增长。公司还庆祝了在人工智能和快速商业方面的重大成就。然而，财务形势因 EBITA、净收入和现金流的显著下降而受到影响，这主要归因于战略投资，突显了未来的财务挑战。</p>
</div><h2>Revenue Growth</h2>
<div class="lb-trans"><h2>收入增长</h2>
</div><p>Alibaba reported a 15% year-over-year increase in total revenue, excluding Sun Art and Intime. This growth was significantly bolstered by a 10% rise in China e-commerce Customer Management Revenue (CMR) and a remarkable 34% increase in Cloud Intelligence revenue. These figures underscore Alibaba’s strong foothold in the e-commerce and cloud sectors.</p>
<div class="lb-trans"><p>阿里巴巴报告称，剔除大润发和银泰后，总收入同比增长 15%。这一增长主要得益于中国电子商务客户管理收入（CMR）增长 10% 以及云智能收入增长 34%。这些数据凸显了阿里巴巴在电子商务和云计算领域的强大立足点。</p>
</div><h2>Cloud Segment Performance</h2>
<div class="lb-trans"><h2>云部门表现</h2>
</div><p>The cloud segment was a standout performer, with Alibaba Cloud’s revenue growing by 34%. This growth was fueled by strong AI demand, with external customer revenue accelerating by 29%. AI-related products have shown triple-digit growth for nine consecutive quarters, highlighting Alibaba’s strategic focus on AI.</p>
<div class="lb-trans"><p>云部门表现突出，阿里云的收入增长了 34%。这一增长得益于强劲的人工智能需求，外部客户收入加速增长 29%。与人工智能相关的产品连续九个季度实现了三位数的增长，突显了阿里巴巴在人工智能方面的战略重点。</p>
</div><h2>Launch of Qwen App</h2>
<div class="lb-trans"><h2>Qwen 应用的推出</h2>
</div><p>Alibaba’s commitment to AI was further demonstrated with the launch of the Qwen app, an advanced personal AI assistant. The app achieved over 10 million downloads in its first week of public beta, showcasing the company’s dedication to integrating AI into both enterprise and consumer markets.</p>
<div class="lb-trans"><p>阿里巴巴通过推出 Qwen 应用进一步展示了其对人工智能的承诺，这是一款先进的个人人工智能助手。该应用在公开测试的第一周内达到了超过 1000 万次下载，展示了公司在企业和消费者市场中整合人工智能的决心。</p>
</div><h2>Quick Commerce Business Expansion</h2>
<div class="lb-trans"><h2>快速商业业务扩展</h2>
</div><p>The quick commerce business experienced a 60% increase in revenue, driven by improvements in unit economics, higher average order values, and expanding scale. This growth contributed to the Taobao app’s increased monthly active consumer base, reflecting Alibaba’s strategic investments in this area.</p>
<div class="lb-trans"><p>快速商业业务的收入增长了 60%，这得益于单位经济的改善、更高的平均订单价值和规模的扩大。这一增长促进了淘宝应用的月活跃消费者基础的增加，反映了阿里巴巴在这一领域的战略投资。</p>
</div><h2>Amap User Engagement</h2>
<div class="lb-trans"><h2>Amap 用户参与度</h2>
</div><p>Amap, Alibaba’s mapping service, reached a historical high of 360 million daily active users. The introduction of the Amap Street Stars feature significantly boosted user engagement, demonstrating Alibaba’s ability to enhance user experience and engagement.</p>
<div class="lb-trans"><p>阿里巴巴的地图服务 Amap 达到了历史最高的 3.6 亿日活跃用户。Amap Street Stars 功能的推出显著提升了用户参与度，展示了阿里巴巴提升用户体验和参与度的能力。</p>
</div><h2>Decreased EBITA and Net Income</h2>
<div class="lb-trans"><h2>EBITA 和净收入下降</h2>
</div><p>Despite the revenue growth, Alibaba faced a 78% decrease in total adjusted EBITA and a 53% drop in GAAP net income. These declines were primarily due to strategic investments in quick commerce and AI plus cloud infrastructure, highlighting the financial pressures of these ventures.</p>
<div class="lb-trans"><p>尽管收入增长，阿里巴巴的总调整 EBITA 下降了 78%，GAAP 净收入下降了 53%。这些下降主要是由于在快速商业、人工智能和云基础设施方面的战略投资，突显了这些业务的财务压力。</p>
</div><h2>Operating Cash Flow Decline</h2>
<div class="lb-trans"><h2>经营现金流下降</h2>
</div><p>Operating cash flow was reported at RMB 10.1 billion, marking a decrease of RMB 21.3 billion compared to the same quarter last year. This decline is attributed to increased strategic investments, particularly in the quick commerce sector.</p>
<div class="lb-trans"><p>经营现金流报告为人民币 101 亿元，较去年同期减少人民币 213 亿元。这一下降归因于战略投资的增加，特别是在快速商业领域。</p>
</div><h2>Free Cash Flow Outflow</h2>
<div class="lb-trans"><h2>自由现金流流出</h2>
</div><p>Alibaba reported a free cash flow outflow of RMB 21.8 billion, reflecting significant investments in quick commerce and AI plus cloud infrastructure. This outflow underscores the company’s aggressive investment strategy aimed at long-term growth.</p>
<div class="lb-trans"><p>阿里巴巴报告自由现金流流出为人民币 218 亿元，反映了在快速商业和人工智能及云基础设施方面的重大投资。这一流出突显了公司旨在实现长期增长的激进投资策略。</p>
</div><h2>All Other Segment Revenue Decline</h2>
<div class="lb-trans"><h2>其他所有部门收入下降</h2>
</div><p>Revenue from all other segments decreased by 25%, mainly due to the disposal of Sun Art and Intime businesses. This segment reported an adjusted EBITA loss of RMB 3.4 billion, indicating challenges in these areas.</p>
<div class="lb-trans"><p>所有其他部门的收入下降了 25%，主要是由于大润发和银泰业务的处置。该部门报告的调整 EBITA 亏损为人民币 34 亿元，表明这些领域面临挑战。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指导</h2>
</div><p>Looking ahead, Alibaba remains optimistic about leveraging AI and cloud technologies to drive long-term growth. The company aims to integrate AI into everyday life through its extensive ecosystem, despite the financial challenges posed by its strategic investments. Alibaba’s focus on AI-related products and quick commerce is expected to continue driving revenue growth.</p>
<div class="lb-trans"><p>展望未来，阿里巴巴对利用人工智能和云技术推动长期增长持乐观态度。尽管战略投资带来了财务挑战，公司仍旨在通过其广泛的生态系统将人工智能融入日常生活。阿里巴巴对与人工智能相关的产品和快速商业的关注预计将继续推动收入增长。</p>
</div><p>In conclusion, Alibaba’s earnings call painted a picture of robust growth in key areas like cloud and e-commerce, alongside significant achievements in AI. However, the financial challenges posed by strategic investments were evident, with decreases in EBITA, net income, and cash flow. As Alibaba continues to focus on AI and cloud technologies, the company remains poised for long-term growth, albeit with some financial hurdles to overcome.</p>
<div class="lb-trans"><p>总之，阿里巴巴的财报电话会议描绘了云计算和电子商务等关键领域的强劲增长，以及在人工智能方面的重大成就。然而，战略投资带来的财务挑战显而易见，EBITA、净收入和现金流均出现下降。随着阿里巴巴继续关注人工智能和云技术，公司仍然有望实现长期增长，尽管面临一些财务障碍。</p>
</div>

Alibaba’s Earnings Call: Growth Amid Challenges

- 阿里巴巴在 Q2 财报电话会议中报告总收入同比增长 15%。  
- 尽管云计算和电商表现强劲，但 EBITA 和净收入分别下降 78% 和 53%。  
- 公司计划继续投资于 AI 和快速消费品，以推动长期增长。  

阿里巴巴的财报电话会议：在挑战中实现增长