On the evening of yesterday, Alibaba announced the results of the second quarter of fiscal year 2021 as of September 30, 2020. The report showed that the revenue of Alibaba group was 155.059 billion yuan, a year-on-year increase of 30%, and the net profit under non-U.S. general accounting standards reached 47.088 billion yuan, a year-on-year increase of 44%. < p > < p > it should be noted that Alibaba’s net profit attributable to common shareholders in this quarter was 28.769 billion yuan, down 60% year-on-year – mainly due to the one-time significant income recognized when it obtained 33% shares of ant group in September last year, and the increase of equity incentive fees related to ant group and granted to employees. < p > < p > in fact, this quarter is the off-season of traditional e-commerce, but in the post epidemic period, with the continuous penetration of online user habits, promotion season and FMCG products, Alibaba’s core business still maintained a relatively stable growth. Zhang Yong, chairman and chief executive of Alibaba group, said it was “another strong quarter”. However, at the same time, the number of mobile active users in Alibaba’s Chinese retail market in this quarter was 881 million, an increase of 7 million compared with the previous quarter, and the market forecast was 899 million. After the release of the financial report, Alibaba fell ahead of the plate. < / P > < p > on the one hand, the core business is recovering steadily; on the other hand, the growth rate of users is almost stagnant. Alibaba’s financial report seems to be mixed with sorrow and joy. However, whether it is “OK” or “no”, we need to take a comprehensive view. < p > < p > compared with Alibaba’s financial reports in the past three years, this quarter’s revenue ranked second, second only to the third quarter of fiscal year 2020, that is, the fourth quarter of the natural year of 2019. However, under the huge volume, Alibaba’s revenue growth has been slowing down, with year-on-year and month on month growth of 30% and 0.8% respectively. < p > < p > in this quarter, the core business revenue of Taobao, tmall, rookie, hungry Mo, HEMA Xiansheng and lazada reached 130.922 billion yuan, accounting for 84.4% of the total revenue, with a year-on-year growth of 29%, basically consistent with the overall market. Specifically for Taobao and tmall, the Gmv of physical goods paid on Taobao increased by more than 10% year-on-year, the Gmv of physical goods paid on tmall online increased by 21% year-on-year, and the growth rate of tmall’s clothing has returned to a higher level than before the outbreak of Xinguan epidemic, and the Gmv paid by tmall global increased by 37% in this quarter. < p > < p > before the double 11, live broadcasting continued. Alibaba disclosed in its financial report that in the 12 months ending September 30 this year, Gmv generated by Taobao live broadcast had exceeded 350 billion yuan. In addition, this quarter mobile Taobao experienced revision, home page information streaming, comprehensive embrace of live and short video, as a major action before this year’s double 11, its effect naturally attracted attention. Alibaba mentioned in the financial report that the new interface will help to enhance user participation and improve the conversion rate of consumer purchase in the future. Zhang Yong also explained at the analysts’ meeting after the financial report that recommendation information flow and user search are complementary, which will bring more immersive experience and increase users’ browsing time. During the double 11 period, it will help them better discover the goods they are interested in, which will be further transformed into consumer behavior. Of course, the answer may need to be found in the next quarter’s earnings report. < / P > < p > let’s look at the users. In this quarter, Alibaba’s annual number of active users in China’s retail market (users who have shopped in the past 12 months) was 757 million, with a net growth of 15 million in a single quarter and 16 million in the previous quarter. The number of mobile active users in China’s retail market reached 881 million, with a net growth of 7 million in a single quarter, the lowest growth rate in three years. The sinking market is regarded as the main source of new users. Alibaba stressed in the financial report that Taobao special edition is the key driving factor for it to acquire new users and consumers in the sinking market. In June 2020, its mobile monthly active users are about 40 million. By September, this number has become 70 million. However, if compared with the single quarter net growth of monthly active users in China’s retail market, in fact, the new users of Taobao’s special price edition may be old acquaintances. Zhang Yong also pointed out that it is impossible to say that Taobao and Taobao’s special edition do not overlap at all. “But we did attract a lot of new consumers to the special edition.” With such a large volume, it is certainly not easy to continue to promote new products. Might as well change an angle, for example, increase the unit price of customers? < p > < p > domestic demand, cloud computing, big data, and globalization are Alibaba’s three future oriented strategies, which are also called Alibaba’s three long-term growth engines by Zhang Yong. “Our firm investment in creating value for customers is fully reflected in the steady performance of core businesses and the strong growth of Alibaba cloud.” < p > < p > in this quarter, Alibaba cloud’s revenue was 14.899 billion yuan, a year-on-year increase of 60%, accounting for 10% of the total revenue. For four consecutive quarters, the revenue has exceeded 10 billion yuan, which has increased quarter by quarter, and maintained a high-speed growth of more than 50%. Meanwhile, after adjustment, the loss of EBITA was 156 million yuan, which was 521 million yuan in the same period of last year, narrowing year-on-year. Alibaba said in its financial report that as of September 30, about 60% of A-share listed companies were customers of Alibaba cloud. < p > < p > at the cloud habitat conference held at the end of September, Alibaba cloud announced that it had entered the era of 2.0. The initial investment of cloud computing is huge, but after going through the period of rapid growth and on the right track, the scale effect is significant. At Alibaba’s 2020 investor conference, Wu Wei, chief financial officer of Alibaba group, once said that Alibaba cloud would make profits in fiscal year 2021. At the analysts’ meeting after the financial report, she added that Alibaba cloud is expected to make profits in two quarters. After all, a lot of adjustments have been made. In July this year, hungry Mo announced that it would upgrade from a catering delivery platform to a life service platform that can meet all the immediate needs of users, and expand the scope of instant delivery services to cover fresh, groceries, flowers and other categories. In August, the “ten billion subsidy” program was officially launched, after nearly a month of pilot. Hungry? He said that the “10 billion subsidy” will become a normal subsidy action. < p > < p > according to the financial report, the number of daily paid members increased by 45% year-on-year. If you are hungry, you may need to refer to the meituan in the same examination room. You should compare yourself with yourself and share with your competitors. < p > < p > in this quarter, Alibaba’s entertainment revenue was 8.066 billion yuan, 8% year-on-year, mainly due to the growth of online game revenue, but partially offset by the decline in user management income. After adjustment, the loss of EBITA was 710 million yuan, compared with a loss of 2.380 billion yuan in the same period of last year, which still has the credit of online game business and the reasons for the loss reduction of Youku business. In addition, the average daily paid users of Youku increased by 45% year on year in this quarter. In addition to the original content, the 88vip membership program also contributed a lot. < p > < p > the interactive entertainment business unit (Lingxi mutual entertainment), which belongs to Alibaba’s game business, has also been upgraded to an independent business group. In the last quarter, Wu Wei “named” the game business at the analysts’ meeting after the financial report, saying that since this quarter, the online game business has crossed the incubation stage. < p > < p > there is a “other” income in Alibaba’s core business, including new retail businesses such as tmall supermarket and HEMA Xiansheng. This quarter, this part of revenue 26.132 billion yuan, a year-on-year increase of 44%, but in the last quarter, this figure was 80%. The financial report also showed that as of September 30 this year, 222 self operated HEMA stores had been set up, mainly in the first and second tier cities. In the 12 months ending September 30, HEMA’s annual active consumers exceeded 26 million. < / P > < p > this year, city retail and community group buying are high-frequency words. Jingdong retail has established an omni channel business group of dashangchao, the business group of tmall supermarket has been upgraded to the retail business group of the same city, and meituan, pinduoduo and didi are fighting in the community. Asked about the topic of community group buying, Zhang Yong said that the market is now in a white hot stage, and Alibaba is paying close attention to its changes and development. “We have a lot of new projects that are directly targeted at the low-end urban and rural areas. We have launched a lot of new business models, which also involve the attempt in group buying.” He believes that community group buying is in the ultra early stage of development, and there are many players seeking to grasp users, but users are easy to change because of better experience. < / P > < p > both HEMA Xiansheng and tmall supermarkets are high-frequency consumption businesses. The mode belongs to heavy assets, with large investment and chaotic war situation, which requires preparation for a long-term confrontation. Wu Wei previously said that the new business will become the main driver of Alibaba’s revenue growth. Retail in the same city or group buying in the community are all competing places. “We think Alibaba has the best conditions, is in the best position and can seize the relevant opportunities.” Zhang Yong said. Chinese version of K-car: reading a10e design drawing exposure

By ibmwl