Alibaba Group has unveiled its financial results for the second quarter of the 2026 fiscal year, announcing a revenue of RMB 247.795 billion, which exceeded market expectations. After factoring out the impact of divested businesses, the revenue witnessed a 15% year-on-year increase. The Group has achieved remarkable outcomes in its two strategic domains—AI + Cloud and consumption—with its core businesses experiencing substantial growth. In particular, Alibaba Cloud’s quarterly revenue rose by 34% year-on-year, and the revenue from AI-related products has maintained triple-digit growth for nine consecutive quarters. Alibaba persists in investing in the enhancement of its full-stack AI capabilities, positioning itself as a leader in the Chinese AI cloud market. Moreover, it has launched the Qianwen App, making strides into both the AI-to-Business (AI to B) and AI-to-Consumer (AI to C) sectors. The influence of the major consumption platform has become increasingly apparent, with revenue from e-commerce customer management climbing by 10% year-on-year and revenue from the instant retail business soaring by 60% year-on-year, propelling rapid growth in the number of monthly active consumers on the Taobao App. Several businesses within Alibaba’s ecosystem have incorporated instant retail, leading to significant synergistic effects. Additionally, the operating performance of Hujing Entertainment has seen improvement, and the revenues of Gaode, Hema, and Alibaba Health have all achieved year-on-year growth.