Alibaba Group Holding Ltd 6-K, filed Nov 16, 2023

Alibaba Group Holding Ltd (BABA)

6-K 2023-11-16 For: 2023-11-16

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Added on July 04, 2026

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Alibaba Group Holding Ltd filed this 6-K on November 16, 2023.

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	ALIBABA GROUP HOLDING LIMITED

Date: November 16, 2023	By:	/s/ Toby Hong XU
	Name:	Toby Hong XU
	Title:	Chief Financial Officer

	Three months ended September 30,
	2022			2023					YoY %
	RMB			RMB			US$		Change

	(in millions, except percentages and per share amounts)
Revenue		207,176			224,790			30,810		9	%

Income from operations		25,137			33,584			4,603		34	%⁽²⁾
Operating margin		12	%		15	%
Adjusted EBITDA⁽¹⁾		43,311			49,237			6,748		14	%⁽³⁾
Adjusted EBITDA margin⁽¹⁾		21	%		22	%
Adjusted EBITA⁽¹⁾		36,164			42,845			5,872		18	%⁽³⁾
Adjusted EBITA margin⁽¹⁾		17	%		19	%

Net (loss) income		(22,467	)⁽⁴⁾		26,696	⁽⁴⁾		3,659		N/A
Net (loss) income attributable to ordinary shareholders		(20,561	)⁽⁴⁾		27,706	⁽⁴⁾		3,797		N/A
Non-GAAP net income⁽¹⁾		33,820			40,188			5,508		19	%⁽³⁾

Diluted (loss) earnings per share⁽⁵⁾		(0.97	)⁽⁴⁾		1.35	⁽⁴⁾		0.19		N/A
Diluted (loss) earnings per ADS⁽⁵⁾		(7.77	)⁽⁴⁾		10.77	⁽⁴⁾		1.48		N/A
Non-GAAP diluted earnings per share^(1) (5)		1.61			1.95			0.27		21	%⁽³⁾⁽⁶⁾
Non-GAAP diluted earnings per ADS^(1) (5)		12.92			15.63			2.14		21	%⁽³⁾⁽⁶⁾

	(1)	See the sections entitled “Non-GAAP Financial Measures” and “Reconciliations of Non-GAAP Measures to the Nearest Comparable U.S. GAAP Measures” for more information about the non-GAAP measures referred to within this results announcement.
	(2)	The year-over-year increase was primarily attributable to an increase in adjusted EBITA, as well as a decrease in share-based compensation expense.
	(3)	The year-over-year increases were primarily contributed by revenue growth and improved operating efficiency.
	(4)	The year-over-year change was primarily attributable to a net gain arising from the increase in fair value of our equity investments, compared to a net loss from these investments in the same quarter last year, and an increase in adjusted EBITA.
	(5)	Each ADS represents eight ordinary shares.
	(6)	The year-over-year percentages as stated are calculated based on the exact amount and there may be minor differences from the year-over-year percentages calculated based on the RMB amounts after rounding.

	Three months ended September 30,
	2022			2023						YoY %
	RMB			RMB			US$			Change

	(in millions, except percentages)
Taobao and Tmall Group:
China commerce retail
- Customer management		66,877			68,661			9,411			3	%
- Direct sales and others⁽³⁾		22,559			23,899			3,276			6	%
		89,436			92,560			12,687			3	%
China commerce wholesale		4,299			5,094			698			18	%
Total Taobao and Tmall Group		93,735			97,654			13,385			4	%

Alibaba International Digital Commerce Group:
International commerce retail		10,990			18,978			2,602			73	%
International commerce wholesale		5,056			5,533			758			9	%
Total Alibaba International Digital Commerce Group		16,046			24,511			3,360			53	%

Local Services Group		13,381			15,564			2,133			16	%
Cainiao Smart Logistics Network Limited		18,282			22,823			3,128			25	%
Cloud Intelligence Group⁽²⁾		27,035			27,648			3,789			2	%
Digital Media and Entertainment Group		5,228			5,779			792			11	%
All others^(2) (4)		48,142			48,052			6,586			(0	)%
Total segment revenue		221,849			242,031			33,173			9	%
Unallocated		216			277			38
Inter-segment elimination		(14,889	)		(17,518	)		(2,401	)
Consolidated revenue		207,176			224,790			30,810			9	%

	Six months ended September 30,
	2022			2023						YoY %
	RMB			RMB			US$			Change

	(in millions, except percentages)
Taobao and Tmall Group:
China commerce retail
- Customer management		139,302			148,322			20,329			6	%
- Direct sales and others⁽³⁾		47,557			54,066			7,410			14	%
		186,859			202,388			27,739			8	%
China commerce wholesale		9,393			10,219			1,401			9	%
Total Taobao and Tmall Group		196,252			212,607			29,140			8	%

Alibaba International Digital Commerce Group:
International commerce retail		21,732			36,116			4,950			66	%
International commerce wholesale		10,035			10,518			1,442			5	%
Total Alibaba International Digital Commerce Group		31,767			46,634			6,392			47	%

Local Services Group		24,512			30,014			4,114			22	%
Cainiao Smart Logistics Network Limited		35,574			45,987			6,303			29	%
Cloud Intelligence Group⁽²⁾		51,391			52,713			7,225			3	%
Digital Media and Entertainment Group		9,194			11,160			1,530			21	%
All others^(2) (4)		93,478			93,850			12,862			0	%
Total segment revenue		442,168			492,965			67,566			11	%
Unallocated		409			526			72
Inter-segment elimination		(29,846	)		(34,545	)		(4,734	)
Consolidated revenue		412,731			458,946			62,904			11	%

	(1)	Starting from the quarter ended June 30, 2023, our segment reporting has been updated to reflect our Reorganization. Our CODM started to review information under a new reporting structure, and segment reporting has been updated to conform to this change. Comparative figures were reclassified to conform to this presentation.
	(2)	Starting from the quarter ended September 30, 2023, we reclassified the result of our DingTalk business, which was previously reported under Cloud Intelligence Group to All others, the purpose of which was to provide DingTalk with greater autonomy to promote innovation and enhance competitiveness. This reclassification conforms to the way that we manage and monitor segment performance. Comparative figures were reclassified to conform to this presentation.
	(3)	All others include Sun Art, Freshippo, Alibaba Health, Lingxi Games, Intime, Intelligent Information Platform (which mainly consists of UCWeb and Quark businesses), Fliggy, DingTalk (previously reported under Cloud Intelligence Group segment) and other businesses.
	(4)	Unallocated primarily relate to certain costs incurred by corporate functions and other miscellaneous items that are not allocated to individual segments.
	(5)	For a more intuitive presentation, widening of loss in YoY% is shown in terms of negative growth rate, and narrowing of loss in YoY% is shown in terms of positive growth rate.

	Three months ended September 30,												% of
	2022					2023							Revenue
	RMB		% of Revenue			RMB		US$		% of Revenue			YoY change

	(in millions, except percentages)
Costs and expenses:
Cost of revenue		131,210		64	%		139,664		19,143		63	%		(1	)%
Product development expenses		15,150		7	%		14,218		1,949		6	%		(1	)%
Sales and marketing expenses		22,359		11	%		25,485		3,493		11	%		0	%
General and administrative expenses		10,591		5	%		9,408		1,289		4	%		(1	)%
Amortization of intangible assets		2,729		1	%		2,431		333		1	%		0	%
Total costs and expenses		182,039		88	%		191,206		26,207		85	%		(3	)%

Share-based compensation expense:
Cost of revenue		1,202		1	%		1,244		171		1	%		0	%
Product development expenses		3,834		2	%		3,006		411		1	%		(1	)%
Sales and marketing expenses		871		0	%		850		117		0	%		0	%
General and administrative expenses		1,880		1	%		1,730		237		1	%		0	%
Total share-based compensation expense		7,787		4	%		6,830		936		3	%		(1	)%

Costs and expenses excluding share-based compensation expense:
Cost of revenue		130,008		63	%		138,420		18,972		62	%		(1	)%
Product development expenses		11,316		5	%		11,212		1,538		5	%		0	%
Sales and marketing expenses		21,488		11	%		24,635		3,376		11	%		0	%
General and administrative expenses		8,711		4	%		7,678		1,052		3	%		(1	)%
Amortization of intangible assets		2,729		1	%		2,431		333		1	%		0	%
Total costs and expenses excluding share-based compensation expense		174,252		84	%		184,376		25,271		82	%		(2	)%

	As of March 31,		As of September 30,
	2023		2023
	RMB		RMB		US$

	(in millions)
Assets
Current assets:
Cash and cash equivalents		193,086		243,716		33,404
Short-term investments		326,492		296,793		40,679
Restricted cash and escrow receivables		36,424		37,279		5,110
Equity securities and other investments		4,892		33,851		4,640
Prepayments, receivables and other assets		137,072		146,317		20,054
Total current assets		697,966		757,956		103,887

Equity securities and other investments		245,737		247,820		33,966
Prepayments, receivables and other assets		110,926		109,784		15,047
Investment in equity method investees		207,380		208,289		28,548
Property and equipment, net		176,031		179,436		24,594
Intangible assets, net		46,913		41,592		5,701
Goodwill		268,091		266,713		36,556
Total assets		1,753,044		1,811,590		248,299

Liabilities, Mezzanine Equity and Shareholders’ Equity
Current liabilities:
Current bank borrowings		7,466		8,187		1,122
Current unsecured senior notes		4,800		—		—
Income tax payable		12,543		8,507		1,166
Accrued expenses, accounts payable and other liabilities		275,950		286,604		39,283
Merchant deposits		13,297		12,603		1,727
Deferred revenue and customer advances		71,295		73,909		10,130
Total current liabilities		385,351		389,810		53,428