Alibaba-W (09988.HK) announced its second quarter business performance ending in September, with revenue increasing by 5.2% to 236.503 billion RMB. Among them, Taotian Group's revenue increased by 1% to 98.994 billion yuan. The group's CFO Xu Hong pointed out that the quarterly revenue growth was driven by Taotian Group's rhythmic increase in realization rate, including service fees based on GMV and the full-site promotion of group marketing tools adopted by merchants, in line with the group's strategy. Alibaba will continue to invest in its core business and improve operational efficiency.

The group's CEO Wu Yongming emphasized that there is currently more confidence in the prospects of the core business than in the past, and will continue to invest to support long-term growth. The operational efficiency of other businesses continues to improve, with most businesses continuing to increase profitability or reduce losses.

He pointed out that during the period, Taotian Group continued to invest in user experience, expanding payment and logistics services on the Taobao and Tmall platforms, expecting to bring significant incremental effects to the overall platform. The cloud business has also accelerated growth compared to the previous several quarters, with double-digit growth in public cloud product revenue and triple-digit growth in AI-related product revenue.

Taotian Group's China retail business revenue increased by 0.5% year-on-year to 93.01 billion yuan, and customer management revenue increased by 2% year-on-year, mainly due to the growth in online GMV. The Take rate remained stable compared to the same period last year. The second quarter online GMV growth of Taotian Group was mainly driven by double-digit growth in order volume, which was driven by the increase in purchase frequency, partially offset by the decrease in average order amount.