The Zhitong Finance App learned that Alibaba-SW (09988) fell by more than 4%. As of press release, it was down 4.05% to HK$79.3, with a turnover of HK$1,351 billion.
According to the news, Alibaba's revenue for the fourth fiscal quarter of fiscal year 2024 was 221.87 billion yuan, up 7% year on year; net profit was 919 million yuan, down 96% year on year. Regarding the sharp drop in net profit, Alibaba explained that the net loss was mainly due to changes in the market value of the equity investment held in listed companies, while the same period last year was due to net income.
According to Guoxin Securities, the company's non-GAAP net profit for the quarter was 24.4 billion yuan, down 11% year on year, non-GAAP net interest rate was 11%, adjusted EBITA fell 5% year on year to 24 billion yuan, and adjusted EBITA profit margin fell 1.3 pct year on year, mainly due to increased investment in e-commerce business and one-time incentives for Cainiao employees to stay in office. The bank expects revenue from cloud business and e-commerce to return to a growth trajectory, and revenue from non-core businesses such as Taotian's own operation and big entertainment will gradually shrink; increased investment may affect the company's profit release.