

The company's net income stood at 42.4 billion yuan during the second quarter, up 76 percent year-on-year, primarily due to mark-to-market changes from its equity investments and gains from the disposal of the local consumer service business Trendyol, partly offset by the decrease in income from operations.
Wu Yongming, CEO of Alibaba Group, said the company's strategic focus on consumption and AI delivered strong growth during the quarter. "Driven by robust AI demand, Cloud Intelligence Group experienced accelerated revenue growth, and AI-related product revenue is now a significant portion of revenue from external customers," he said.
Wu added that Alibaba remains committed to investing in its two strategic pillars of consumption and AI plus cloud to capture historic opportunities and drive long-term growth.
For the quarter ending June 30, revenue from its cloud business rose 26 percent year-on-year to 33.4 billion yuan. This momentum was primarily driven by public cloud revenue growth, including the increasing adoption of AI-related products.
AI-related product revenue achieved triple-digit year-on-year growth for the eighth consecutive quarter. The company said that, as AI demand continues to grow rapidly, it is seeing increased demand for computing, storage and other public cloud services to support AI adoption.
It will continue to invest in anticipation of customer growth and technology innovation, including AI products and services, to increase cloud adoption for AI.
Alibaba's significant investment in instant retail through the launching of its "Taobao Instant Commerce" service contributed to a 25 percent year-on-year increase in monthly active consumers on the Taobao app in the first three weeks of August.
Source: By Fan Feifei | chinadaily.com.cn | Updated: 2025-09-01 20:59
Deliberations are ongoing, and the size and timing of the deal may change, the people said, asking not to be identified because they weren’t authorized to speak publicly. The company didn’t reply to a request for comment.
Quicktron joins the growing list of firms making use of confidential filings after Hong Kong eased rules for doing so in the technology and biotechnology industries. Before then, they were typically reserved for firms listed on another exchange.
Quicktron, which was founded in 2014 and has over 1,000 clients including global giants such as Huawei Technologies Co and AP Moller-Maersk A/S, counts Alibaba Group Holding Ltd’s Cainiao logistics arm and a venture-capital fund under Saudi Arabian Oil Co as its backers. Last year, it raised more than $100 million in a funding round.
Source: China Daily by Agencies Published: 21:41, September 1, 2025 | Updated: 21:57, September 1, 2025