<p>阿里巴巴集團（BABA）已舉行其第二季度財報電話會議。請繼續閲讀會議的主要亮點。</p>
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<p>在最新的財報電話會議上，阿里巴巴集團展現了混合的前景，強調了由其雲計算和電子商務部門驅動的強勁收入增長。公司還慶祝了在人工智能和快速商業方面的重大成就。然而，財務形勢因 EBITA、淨收入和現金流的顯著下降而受到影響，這主要歸因於戰略投資，突顯了未來的財務挑戰。</p>
<h2>收入增長</h2>
<p>阿里巴巴報告稱，剔除大潤發和銀泰後，總收入同比增長 15%。這一增長主要得益於中國電子商務客户管理收入（CMR）增長 10% 以及雲智能收入增長 34%。這些數據凸顯了阿里巴巴在電子商務和雲計算領域的強大立足點。</p>
<h2>雲部門表現</h2>
<p>雲部門表現突出，阿里雲的收入增長了 34%。這一增長得益於強勁的人工智能需求，外部客户收入加速增長 29%。與人工智能相關的產品連續九個季度實現了三位數的增長，突顯了阿里巴巴在人工智能方面的戰略重點。</p>
<h2>Qwen 應用的推出</h2>
<p>阿里巴巴通過推出 Qwen 應用進一步展示了其對人工智能的承諾，這是一款先進的個人人工智能助手。該應用在公開測試的第一週內達到了超過 1000 萬次下載，展示了公司在企業和消費者市場中整合人工智能的決心。</p>
<h2>快速商業業務擴展</h2>
<p>快速商業業務的收入增長了 60%，這得益於單位經濟的改善、更高的平均訂單價值和規模的擴大。這一增長促進了淘寶應用的月活躍消費者基礎的增加，反映了阿里巴巴在這一領域的戰略投資。</p>
<h2>Amap 用户參與度</h2>
<p>阿里巴巴的地圖服務 Amap 達到了歷史最高的 3.6 億日活躍用户。Amap Street Stars 功能的推出顯著提升了用户參與度，展示了阿里巴巴提升用户體驗和參與度的能力。</p>
<h2>EBITA 和淨收入下降</h2>
<p>儘管收入增長，阿里巴巴的總調整 EBITA 下降了 78%，GAAP 淨收入下降了 53%。這些下降主要是由於在快速商業、人工智能和雲基礎設施方面的戰略投資，突顯了這些業務的財務壓力。</p>
<h2>經營現金流下降</h2>
<p>經營現金流報告為人民幣 101 億元，較去年同期減少人民幣 213 億元。這一下降歸因於戰略投資的增加，特別是在快速商業領域。</p>
<h2>自由現金流流出</h2>
<p>阿里巴巴報告自由現金流流出為人民幣 218 億元，反映了在快速商業和人工智能及雲基礎設施方面的重大投資。這一流出突顯了公司旨在實現長期增長的激進投資策略。</p>
<h2>其他所有部門收入下降</h2>
<p>所有其他部門的收入下降了 25%，主要是由於大潤發和銀泰業務的處置。該部門報告的調整 EBITA 虧損為人民幣 34 億元，表明這些領域面臨挑戰。</p>
<h2>前瞻性指導</h2>
<p>展望未來，阿里巴巴對利用人工智能和雲技術推動長期增長持樂觀態度。儘管戰略投資帶來了財務挑戰，公司仍旨在通過其廣泛的生態系統將人工智能融入日常生活。阿里巴巴對與人工智能相關的產品和快速商業的關注預計將繼續推動收入增長。</p>
<p>總之，阿里巴巴的財報電話會議描繪了雲計算和電子商務等關鍵領域的強勁增長，以及在人工智能方面的重大成就。然而，戰略投資帶來的財務挑戰顯而易見，EBITA、淨收入和現金流均出現下降。隨着阿里巴巴繼續關注人工智能和雲技術，公司仍然有望實現長期增長，儘管面臨一些財務障礙。</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財報電話會議強調了雲計算和電子商務的強勁收入增長，同比增長 15%。雲計算部門增長了 34%，主要受人工智能需求的推動。然而，由於在人工智能和快速商業領域的戰略投資，EBITA 和淨收入分別下降了 78% 和 53%。運營現金流和自由現金流也有所下降。儘管面臨財務挑戰，阿里巴巴對利用人工智能和雲技術實現長期增長仍持樂觀態度</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>阿里巴巴集團（BABA）已舉行其第二季度財報電話會議。請繼續閲讀會議的主要亮點。</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，信心投資</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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<div class="lb-trans"><ul>
<li>解鎖對沖基金級別的數據和強大的投資工具，幫助您做出更聰明、更精準的決策</li>
<li>通過最新的新聞和分析保持市場領先，使您的投資組合始終處於最大潛力的狀態</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>在最新的財報電話會議上，阿里巴巴集團展現了混合的前景，強調了由其雲計算和電子商務部門驅動的強勁收入增長。公司還慶祝了在人工智能和快速商業方面的重大成就。然而，財務形勢因 EBITA、淨收入和現金流的顯著下降而受到影響，這主要歸因於戰略投資，突顯了未來的財務挑戰。</p>
</div><h2>Revenue Growth</h2>
<div class="lb-trans"><h2>收入增長</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>阿里巴巴報告稱，剔除大潤發和銀泰後，總收入同比增長 15%。這一增長主要得益於中國電子商務客户管理收入（CMR）增長 10% 以及雲智能收入增長 34%。這些數據凸顯了阿里巴巴在電子商務和雲計算領域的強大立足點。</p>
</div><h2>Cloud Segment Performance</h2>
<div class="lb-trans"><h2>雲部門表現</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>雲部門表現突出，阿里雲的收入增長了 34%。這一增長得益於強勁的人工智能需求，外部客户收入加速增長 29%。與人工智能相關的產品連續九個季度實現了三位數的增長，突顯了阿里巴巴在人工智能方面的戰略重點。</p>
</div><h2>Launch of Qwen App</h2>
<div class="lb-trans"><h2>Qwen 應用的推出</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>阿里巴巴通過推出 Qwen 應用進一步展示了其對人工智能的承諾，這是一款先進的個人人工智能助手。該應用在公開測試的第一週內達到了超過 1000 萬次下載，展示了公司在企業和消費者市場中整合人工智能的決心。</p>
</div><h2>Quick Commerce Business Expansion</h2>
<div class="lb-trans"><h2>快速商業業務擴展</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>快速商業業務的收入增長了 60%，這得益於單位經濟的改善、更高的平均訂單價值和規模的擴大。這一增長促進了淘寶應用的月活躍消費者基礎的增加，反映了阿里巴巴在這一領域的戰略投資。</p>
</div><h2>Amap User Engagement</h2>
<div class="lb-trans"><h2>Amap 用户參與度</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>阿里巴巴的地圖服務 Amap 達到了歷史最高的 3.6 億日活躍用户。Amap Street Stars 功能的推出顯著提升了用户參與度，展示了阿里巴巴提升用户體驗和參與度的能力。</p>
</div><h2>Decreased EBITA and Net Income</h2>
<div class="lb-trans"><h2>EBITA 和淨收入下降</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>儘管收入增長，阿里巴巴的總調整 EBITA 下降了 78%，GAAP 淨收入下降了 53%。這些下降主要是由於在快速商業、人工智能和雲基礎設施方面的戰略投資，突顯了這些業務的財務壓力。</p>
</div><h2>Operating Cash Flow Decline</h2>
<div class="lb-trans"><h2>經營現金流下降</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>經營現金流報告為人民幣 101 億元，較去年同期減少人民幣 213 億元。這一下降歸因於戰略投資的增加，特別是在快速商業領域。</p>
</div><h2>Free Cash Flow Outflow</h2>
<div class="lb-trans"><h2>自由現金流流出</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>阿里巴巴報告自由現金流流出為人民幣 218 億元，反映了在快速商業和人工智能及雲基礎設施方面的重大投資。這一流出突顯了公司旨在實現長期增長的激進投資策略。</p>
</div><h2>All Other Segment Revenue Decline</h2>
<div class="lb-trans"><h2>其他所有部門收入下降</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>所有其他部門的收入下降了 25%，主要是由於大潤發和銀泰業務的處置。該部門報告的調整 EBITA 虧損為人民幣 34 億元，表明這些領域面臨挑戰。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指導</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>展望未來，阿里巴巴對利用人工智能和雲技術推動長期增長持樂觀態度。儘管戰略投資帶來了財務挑戰，公司仍旨在通過其廣泛的生態系統將人工智能融入日常生活。阿里巴巴對與人工智能相關的產品和快速商業的關注預計將繼續推動收入增長。</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>總之，阿里巴巴的財報電話會議描繪了雲計算和電子商務等關鍵領域的強勁增長，以及在人工智能方面的重大成就。然而，戰略投資帶來的財務挑戰顯而易見，EBITA、淨收入和現金流均出現下降。隨着阿里巴巴繼續關注人工智能和雲技術，公司仍然有望實現長期增長，儘管面臨一些財務障礙。</p>
</div>

Alibaba’s Earnings Call: Growth Amid Challenges

- 阿里巴巴在 Q2 財報電話會議中報告總收入同比增長 15%。  
- 儘管雲計算和電商表現強勁，但 EBITA 和淨收入分別下降 78% 和 53%。  
- 公司計劃繼續投資於 AI 和快速消費品，以推動長期增長。  

阿里巴巴的財報電話會議：在挑戰中實現增長