Alibaba Group CEO: Taobao Tmall returns to growth track

Wu Yongming, CEO of Alibaba Group, said in his recent comments that the company's strategy has begun to achieve remarkable results and is returning to the growth track. He said that by focusing on user experience, the GMV (total commodity transactions) of Taobao Tmall and international e-commerce businesses achieved double-digit year-on-year growth, and the revenue of AI product customers and related cloud computing also accelerated.

Wu Yongming stressed that the company will continue to firmly implement the strategic focus and grasp the future development opportunities. According to the latest financial report data, in the fourth quarter of 2024, the company achieved revenue of 221.874 billion yuan, up 7% year on year. In the whole financial year, the Group achieved revenue of RMB 941.168 billion, and adjusted EBITA (profit before interest, tax, depreciation and amortization) increased by 12% year-on-year to RMB 165.028 billion.

It is worth noting that in this quarter, Taobao Tmall's business achieved a revenue of 93.216 billion yuan, up 4% year on year, and customer management fee (CMR) revenue also achieved a 5% growth. In addition, the number of 88VIP members has exceeded 35 million.

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