阿里巴巴-2020财年第一季度阿里巴巴财报PPT（英文）-2019.8.15-13页_1mb

June Quarter 2019 Results Summary

Core Content

This document provides an overview of Alibaba Group's financial performance for the June quarter of 2019, including revenue, adjusted EBITA, free cash flow, and key cost trends. It also includes a reconciliation of non-GAAP financial measures to GAAP and highlights the performance of various business segments.

Main Financial Highlights

Revenue Growth

• Total Revenue: Increased by 42% YoY to RMB114,924 million (US$16,741 million).
• Core Commerce Revenue: Grew by 44% YoY to RMB99,544 million (US$14,500 million).
  • China Commerce Retail: Grew by 40% YoY to RMB75,601 million (US$11,000 million).
    • Customer Management: RMB41,954 million (37% of revenue), up 27% YoY.
    • Commission: RMB16,902 million (15% of revenue), up 23% YoY.
    • Others: RMB16,745 million (14% of revenue), up 134% YoY.
  • China Commerce Wholesale: RMB2,992 million (3% of revenue), up 33% YoY.
  • International Commerce Retail: RMB5,567 million (5% of revenue), up 29% YoY.
  • International Commerce Wholesale: RMB2,245 million (2% of revenue), up 22% YoY.
  • Cainiao Logistics Services: RMB5,005 million (4% of revenue), up 50% YoY.
  • Local Consumer Services: RMB6,180 million (5% of revenue), up 137% YoY.
  • Others: RMB1,954 million (2% of revenue), up 123% YoY.
• Cloud Computing Revenue: Increased by 66% YoY to RMB7,787 million (US$1,134 million), driven by higher average revenue per customer.
• Digital Media & Entertainment Revenue: Grew by 6% YoY to RMB6,312 million (US$920 million), due to the consolidation of Alibaba Pictures.

Adjusted EBITA

• Total Adjusted EBITA: RMB34,556 million (US$5,034 million), up 42% YoY.
• Marketplace-based Core Commerce Adjusted EBITA: RMB46,800 million (US$6,817 million), up 27% YoY.
• Core Commerce Adjusted EBITA: RMB41,025 million (US$5,976 million), up 25% YoY, with a margin of 41%.
• Cloud Computing Adjusted EBITA: A loss of RMB358 million (US$52 million).
• Digital Media & Entertainment Adjusted EBITA: A loss of RMB2,233 million (US$325 million).
• Innovation Initiatives & Others Adjusted EBITA: A loss of RMB1,965 million (US$286 million).

Free Cash Flow

• Non-GAAP Free Cash Flow: RMB26,361 million (US$3,840 million).
• Operating Cash Flow: RMB34,612 million (US$5,042 million), a 4% YoY decrease, due to reduced royalty fees and a cash settlement from a lawsuit.

Key Information

Segment Reporting

• Core Commerce: RMB99,544 million (US$14,500 million), 44% YoY growth.
• Cloud Computing: RMB7,787 million (US$1,134 million), 66% YoY growth.
• Digital Media & Entertainment: RMB6,312 million (US$920 million), 6% YoY growth.
• Innovation Initiatives & Others: RMB1,281 million (US$187 million), 21% YoY growth.

Non-GAAP Reconciliation

• Adjusted EBITA: RMB34,556 million (US$5,034 million), up 42% YoY.
• Adjusted EBITDA: RMB39,238 million (US$5,716 million), up 42% YoY.
• Non-GAAP Net Income: RMB30,949 million (US$4,508 million), up 42% YoY.
• Non-GAAP Free Cash Flow: RMB26,361 million (US$3,840 million), up 42% YoY.

Notes

• Non-GAAP measures exclude certain items such as share-based compensation, amortization of intangible assets, and depreciation.
• Segmental information is adjusted for inter-company transactions.
• Unallocated expenses include corporate administrative costs and other miscellaneous items.

Summary of Performance

• Alibaba Group experienced strong revenue growth across its core segments, with Core Commerce and Cloud Computing being the primary contributors.
• Marketplace-based Core Commerce showed a notable increase in adjusted EBITA, allowing for continued investment in customer value and long-term growth.
• Despite growth in revenue, the Cloud Computing and Digital Media & Entertainment segments reported losses in adjusted EBITA, primarily due to investments in research and innovation.
• Free cash flow remained healthy, with Non-GAAP Free Cash Flow increasing to RMB26,361 million (US$3,840 million).
• The document includes a detailed reconciliation of non-GAAP financial measures to GAAP, highlighting the adjustments made for various non-cash and non-operational expenses.

Risk and Forward-Looking Statements

• The document contains forward-looking statements, including guidance on future revenue growth, business development, and competitive strategies.
• These statements are subject to inherent risks and uncertainties, including economic conditions, competition, and the ability to maintain or grow revenue and business.
• Risks also include the impact of sustained investments, strategic acquisitions, and technological innovation on future performance.

Conclusion

The June quarter 2019 results reflect a robust financial performance with significant revenue growth across core segments. While some segments like Cloud Computing and Digital Media & Entertainment reported losses in adjusted EBITA, these were attributed to strategic investments. Alibaba Group's ability to maintain its digital economy network effect and innovate remains a key focus, supported by its strong free cash flow and continued expansion in key areas.