On August 20, Alibaba Group unveiled its financial results for the first fiscal quarter of fiscal year 2027 (spanning April to June 2026 in the Gregorian calendar). During this period, Alibaba recorded revenue of RMB 268.95 billion, marking a 9% year-on-year increase, while its adjusted net profit reached RMB 20.72 billion. The company announced that it had strategically consolidated some of its business units during the reporting period to bolster its comprehensive AI capabilities. Wu Yongming, CEO of Alibaba Group, highlighted that AI has emerged as the definitive driver of growth for Alibaba Cloud, with external commercial revenue surging by 45%. Quarterly revenue from AI-related products soared to RMB 12.376 billion, representing the twelfth consecutive quarter of triple-digit year-on-year growth. Wu Yongming stated that, given the prevailing industry trends and Alibaba's unique product strengths, AI cloud revenue is set for robust long-term expansion, accompanied by significant momentum for profit margin growth. He expressed strong confidence in expediting the attainment of the $100 billion external commercial cloud revenue target by 2030, with the prospect of Alibaba Cloud achieving a profit margin exceeding 20% appearing highly achievable.