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Alibaba's fourth quarter revenue was 114.31 billion yuan, up 22% year on year

via:博客园     time:2020/5/23 6:02:27     readed:33

Key points:

  1. Alibaba's fourth-quarter revenue in fiscal year 2020 was 114.314 billion yuan, up 22% from a year earlier, while net profit for common shareholders was 3.162 billion yuan, down 88% from a year earlier.
  2. Alibaba revenue in fiscal year 2020 is 509.711 billion yuan ,2019 fiscal year is 376.844 billion yuan; net profit is 149.263 billion yuan ,2019 fiscal year is 87.6 billion yuan.
  3. In March 2020, Alibaba's monthly mobile active users in China's retail market reached 846 million, an increase of 125 million compared with March 2019.
  4. In the 12 months ended March 31, 2020, annual active consumers reached 726 million, an increase of 72 million over the 12 months ended March 31, 2019.

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Tencent technology news, Alibaba Group (NYSE: Baba) released its unaudited financial statements for the fourth quarter and the whole year of 2020 as of March 31, 2020 before Friday's trading.

According to the financial report, Alibaba Group's revenue in the fourth quarter was 114.314 billion yuan (US $16.144 billion), up 22% year-on-year, with a market expectation of 107.04 billion yuan; the net profit attributable to common shareholders was 3.162 billion yuan (US $447 million), down 88% year-on-year.

In March 2020, Alibaba's China retail market mobile monthly active users reached 846 million, an increase of 125 million over March 2019; for the 12 months ending March 31,2020, the annual active consumers reached 726 million, an increase of 72 million over the 12 months ending March 31,2019.

The revenue in 2020 is 509.711 billion yuan, the market is expected to be 503.26 billion yuan, and the revenue in 2019 is 376.844 billion yuan.

The net profit in 2020 is RMB 149263 million, market expectation is RMB 145.22 billion, and that in 2019 is RMB 87.6 billion.

Zhang Yong, chairman and CEO of Alibaba group, said: this fiscal year, Alibaba's digital economy achieved $1 trillion of Gmv, which is a historic milestone. Despite the impact of novel coronavirus pneumonia on the economy in the last quarter of the fiscal year, our overall business has maintained strong growth, with annual active consumers increasing to 960 million worldwide.

The fourth quarter performance highlights are as follows:

Revenue was 114.314 billion yuan ($16.144 billion), up 22% from a year earlier. Revenue from core ecommerce grew 19% to 93.865 billion yuan ($13.256 billion) from a year earlier; revenue from cloud computing increased 58% to 12.217 billion yuan ($1.725 billion) from a year earlier; revenue from digital media and entertainment increased 5% to 5.944 billion yuan ($840 billion) from a year earlier; and revenue from innovative projects and other businesses rose 90% to 2.288 billion yuan ($323 million) from a year earlier.

The annual number of active consumers in China's retail market is 726 million, up 15 million from 711 million as at 31 December 2019.

--In March 2020, the number of mobile single month active users in China's retail market reached 846 million, an increase of 22 million over December 2019.

- operating profit of novel coronavirus pneumonia was 7 billion 131 million yuan (US $1 billion 7 million), down 19% from a year ago. Adjusted EBITDA was 25.44 billion yuan ($3.593 billion), up 1% year-on-year.

--The net profit attributable to the common shareholders of Alibaba group is RMB 3.162 billion (about US $447 million), a year-on-year decrease of 88%; the net profit is RMB 348 million (about US $49 million), a year-on-year decrease of 99%. The year-on-year decrease is mainly due to the net loss of investment income, which mainly reflects that the market price of Alibaba Group's equity investment in listed companies is lower than the net income recorded in the same period of 2019. Excluding one-off income and other items, the net profit not measured in accordance with the general accounting standards of the United States was 22.287 billion yuan (about 3.148 billion US dollars), up 11% year on year.

--The diluted profit per ads is 1.16 yuan (about US $0.16); the diluted profit per ads not measured in accordance with US GAAP is 9.20 yuan (about US $1.3), up 7% year on year.

--Net cash provided by operating activities was 2.164 billion yuan (US $306 million), compared with 18.553 billion yuan in the same period last year; free cash flow not measured in accordance with us gaap was - 4.214 billion yuan (US $595 million), compared with 10.714 billion yuan in the same period last year.

Fy2020 performance focus

--Revenue was 509.711 billion yuan (US $71.985 billion), up 35% year on year.

-- Alibaba.com's digital economy has 960 million active users, including 780 million Chinese users and 180 million overseas users. The Chinese market has 726 million active users a year, up 72 million from the data as of March 31,2019.

In March 2020, the number of mobile monthly active users in China's retail market reached 846 million ,125 million more than in March 2019.

--Alibaba's total commodity trading volume in the digital economy reached 7053 billion yuan (US $1 trillion), including 6589 billion yuan (US $945 billion) in China's retail market.

--Operating profit was 91.430 billion yuan (US $12.912 billion), up 60% year on year. Adjusted EBITDA was 157.659 billion yuan (US $22.266 billion), up 29% year on year.

--The net profit attributable to the common shareholders of Alibaba group is RMB 149263 million (about USD 21.08billion) and the net profit is RMB 140.350 billion (about USD 19.821 billion). Excluding one-off income and other items, the net profit not measured in accordance with the general accounting standards of the United States was 132.479 billion yuan (about 18.71 billion US dollars), up 42% year on year.

--The diluted profit per ads is 55.93 yuan (about 7.90 US dollars); the diluted profit per ads not measured in accordance with the general accounting standards of the United States is 52.98 yuan (about 7.48 US dollars), a year-on-year increase of 38%.

--The net cash provided by operating activities is 180.607 billion yuan (about US $25.507 billion); the free cash flow not measured in accordance with US GAAP is 130.914 billion yuan (about US $18.489 billion).

Executive comments

Zhang Yong, chairman and chief executive of Alibaba Group, said:

Wu Wei, chief financial officer of Alibaba Group, said:

Financial analysis of the fourth quarter

revenue

Alibaba Group's fourth-quarter revenue was 114.314 billion yuan ($16.144 billion), up 22% from 93.498 billion yuan a year earlier. Revenue growth was mainly due to strong growth in China's e-commerce retail business and Ali Cloud's revenue.

Core e-commerce business

Revenue from China's e-commerce retail business in the fourth quarter was 70.905 billion yuan ($10.014 billion), up 21% from 58.441 billion yuan in the previous fiscal year. Among them, customer management business revenue was RMB 30.906 billion yuan (US $4.365 billion), up 3% from the same period last year; commission revenue was RMB 14.5 billion yuan (US $2.048 billion), down 2% from RMB 14.79 billion in the same period last year; other revenue was RMB 25.499 billion yuan (US $3.601 billion), up 88% from RMB 13.532 billion in the same period last year.

In the 12 months ended March 31,2020, the number of active consumers in China's retail market reached 726 million annually, an increase of 15 million from 711 million as of December 31,2019.

In March 2020, the number of mobile monthly active users in the Chinese retail market reached 846 million, an increase of 22 million over December 2019.

In the fourth quarter, revenue from China's e-commerce wholesale business was 2.787 billion yuan (US $394 million), up 9% from 2.547 billion yuan in the same period last year.

Revenue from international e-commerce retail sales in the fourth quarter was 5.353 billion yuan ($756 million), up 8% from 4.944 billion yuan a year earlier.

In the fourth quarter, the revenue from international e-commerce wholesale business was 2.458 billion yuan (US $347 million), up 15% from 2.133 billion yuan in the same period last year.

Revenue from Cainiao in the fourth quarter was 4.951 billion yuan ($699 million), up 28% from 3.861 billion yuan a year earlier.

Revenue from local consumer services in the fourth quarter was 4.841 billion yuan ($684 million), down 8% from 5.266 billion yuan in the same period last year.

Revenue from cloud computing in the fourth quarter was 12.217 billion yuan (US $1.725 billion), up 58% from 7.726 billion yuan in the same period last year, driven by average revenue per user.

Revenue from the digital media and entertainment business in the fourth quarter was 12.217 billion yuan ($1.725 billion), up 58% from 7.726 billion yuan in the same period last year.

Revenue from innovation programs and other businesses in the fourth quarter was 2.288 billion yuan ($323 million), up 90% from 1.207 billion yuan a year earlier.

Costs and expenses

Revenue costs for the fourth quarter were 72.502 billion yuan ($10.239 billion), or 64 percent of revenue, compared with 55.610 billion yuan (60 percent) a year earlier. Excluding the impact of equity incentive spending, revenue costs accounted for 62% of revenue, compared with 58% a year earlier.

In the fourth quarter, the product R & D expenditure was 10.587 billion yuan (US $1495 million), accounting for 9% of the revenue; in the same period of last year, the product R & D expenditure was 8.659 billion yuan, accounting for 10% of the revenue. Excluding the impact of equity incentive expenditure, product R & D expenditure accounted for 6% of revenue, compared with 7% in the same period last year.

Sales and marketing expenses for the fourth quarter were 12.179 billion yuan ($1.72 billion), or 11 percent of revenue; sales and marketing expenses for the same period last year were 9.649 billion yuan, or 10 percent of revenue. Excluding the impact of equity incentive spending, sales and marketing spending accounted for 10% of revenue, compared with 9% in the same period last year.

General and administrative expenses in the fourth quarter were 7871 million yuan ($1.112 billion), or 7% of revenue, while 7,612 million yuan (8%) of revenue for the same period last fiscal year.

Equity incentive spending in the fourth quarter was 8.652 billion yuan ($1.222 billion), compared with 7.110 billion yuan in the same period last year. Equity incentive expenses accounted for 8% of revenue, compared with 7% in the same period last year.

The amortization expense of intangible assets in the fourth quarter was 4.044 billion yuan (about US $571 million), compared with 3.203 billion yuan in the same period of last year.

Operating profit and operating profit margin

Operating profit was 7.131 billion yuan ($1.007 billion), down 19% from a year earlier, mainly due to the new coronary pneumonia pandemic. Adjusted profits (EBITDA) before tax, interest, depreciation and amortization amounted to 25.44 billion yuan ($3.593 billion), up 1% from the same period last year.

Profits

Operating profit of novel coronavirus pneumonia was 7 billion 131 million yuan (US $1 billion 7 million), down 19% from a year ago. Adjusted EBITDA was 25.44 billion yuan ($3.593 billion), up 1% year-on-year.

--The net profit attributable to the common shareholders of Alibaba group is RMB 3.162 billion (about US $447 million), a year-on-year decrease of 88%; the net profit is RMB 348 million (about US $49 million), a year-on-year decrease of 99%. The year-on-year decrease is mainly due to the net loss of investment income, which mainly reflects that the market price of Alibaba Group's equity investment in listed companies is lower than the net income recorded in the same period of 2019. Excluding one-off income and other items, the net profit not measured in accordance with the general accounting standards of the United States was 22.287 billion yuan (about 3.148 billion US dollars), up 11% year on year.

US depositary receipts diluted profits of 1.16 yuan ($0.16) per share; US depositary receipts diluted profits of 9.20 yuan ($1.30) per share not measured under US General Accounting Standards, an increase of 7% over the same period last year.

Balance sheet

As of March 31,2020, the total amount of cash, cash equivalents and short-term investment held by Alibaba Group is RMB 358,981 billion yuan (about US $50,698 million), which is higher than RMB 351.946 billion as of December 31,2019. Alibaba Group's total holdings of cash, cash equivalents and short-term investments rose from a month-on-month basis, mainly because it received a free cash inflow of RMB 9.816 billion ($1.386 billion) in the quarter through the disposal of various investments, partly offset by a cash outflow of RMB 4.214 billion ($595 million) from operating activities.

Number of employees

As of March 31,2020, the total number of employees of Alibaba Group is 117,600, and 116,519 as of December 31,2019.

Financial analysis in fy2020

revenue

Alibaba Group's revenue for fiscal year 2020 was 509.711 billion yuan ($71.985 billion), up 35% from 376.844 billion yuan a year earlier. Revenue growth was mainly due to strong growth in China's e-commerce retail business and Ali Cloud's revenue.

Core e-commerce business

Revenue from China's e-commerce retail business amounted to 332.75 billion yuan (US $46.993 billion) in fiscal year 2020, an increase of 34% compared with 247.615 billion yuan in the same period of the previous fiscal year. Among them, the revenue of customer management business is 175.396 billion yuan (about US $24.771 billion), a year-on-year increase of 20%; the revenue of commission is 71.086 billion yuan (about US $10.039 billion), a year-on-year increase of 15%; the revenue of other businesses is 86.268 billion yuan (about US $12.183 billion), a year-on-year increase of 400.84% Billion yuan increased by 115%.

Alibaba's digital economy has 960 million active users a year, including 780 million Chinese users and 180 million overseas users. The annual number of active users in the Chinese market reached 726 million, an increase of 72 million over the data as of March 31, 2019.

In March 2020, the number of mobile monthly active users in China's retail market reached 846 million, an increase of 125 million over March 2019.

Alibaba's total commodity trading volume in the digital economy reached 7053 billion yuan (US $1 trillion), including 6589 billion yuan (US $945 billion) in China's retail market.

In 2020, the revenue from wholesale business of e-commerce in China was 12.427 billion yuan (about US $1.755 billion), an increase of 24% over the same period of last year of 9.988 billion yuan.

Revenue from international e-commerce retail business was 24.323 billion yuan ($3.435 billion) in fiscal year 2020, up 24% from 19.558 billion yuan a year earlier.

In 2020, the revenue from international e-commerce wholesale business was 9.594 billion yuan (US $1.355 billion), up 17% from 8.167 billion yuan in the same period of last year.

Revenue from the rookie business in fy2020 was 22.233 billion yuan (US $3.140 billion), up 49% from 14.885 billion yuan in the same period last year.

Revenue from local consumer services in fy2020 was 25.44 billion yuan (US $3.593 billion), up 41% from 18.058 billion yuan in the same period last year.

In 2020, the revenue from cloud computing business is RMB 40.016 billion (about USD 5.651 billion), up 62% from RMB 24.702 billion in the same period of last year, mainly driven by the average revenue per user.

Revenue from digital media and entertainment in fiscal year 2020 was 26.948 billion yuan ($3.806 billion), up 12% from 24.077 billion yuan a year earlier.

Revenue from innovation programs and other businesses in fy2020 was 6.643 billion yuan (US $938 million), up 42% from 4.665 billion yuan in the same period last year.

Costs and expenses

Revenue costs in fiscal year 2020 were 52.367 billion yuan ($39.878 billion), or 55% of revenue; revenue costs were 206.929 billion yuan, or 55%, in the same period last year. Excluding the impact of equity incentive spending, revenue costs accounted for 54% of revenue, compared with 53% a year earlier.

In the fiscal year 2020, the product R & D expenditure is 43.080 billion yuan (about 6.085 billion US dollars), accounting for 9% of the revenue; in the same period of last year, the product R & D expenditure is 37.435 billion yuan, accounting for 10% of the revenue. Excluding the impact of equity incentive expenditure, product R & D expenditure accounted for 6% of revenue, compared with 6% in the same period last year.

Sales and marketing expenses for fiscal year 2020 were RMB 50.673 billion yuan ($7.156 billion), accounting for 10% of revenue; sales and marketing expenses for the same period last year were RMB 39.78 billion yuan, accounting for 11% of revenue. Excluding the impact of equity incentive spending, sales and marketing spending accounted for 9% of revenue, compared with 9% in the same period last year.

In 2020, the general and administrative expenditure was 28.197 billion yuan (about 3.982 billion US dollars), accounting for 5% of the revenue; in the same period of the previous fiscal year, the general and administrative expenditure was 24.889 billion yuan, accounting for 6% of the revenue.

Equity incentive spending in fy2020 was 31.742 billion yuan ($4.483 billion), compared with 37.491 billion yuan in the same period last year. Equity incentive expenses accounted for 6% of revenue, compared with 10% in the same period of last year.

Operating profit and operating profit margin

Operating profit was 91.430 billion yuan (US $12.912 billion), up 60% year on year. Adjusted EBITDA was 157.659 billion yuan (US $22.266 billion), up 29% year on year.

Net profit

The net profit attributable to the common shareholders of Alibaba group is RMB 149263 million (about USD 21.08billion) and the net profit is RMB 140.350 billion (about USD 19.821 billion). Excluding one-off income and other items, the net profit not measured in accordance with the general accounting standards of the United States was 132.479 billion yuan (about 18.71 billion US dollars), up 42% year on year.

US depositary receipts diluted profits of 55.93 yuan ($7.90) per share; US depositary receipts diluted profits of 52.98 yuan ($7.48) per share not measured in accordance with US General Accounting Standards, an increase of 38% over the same period last year. (Tecent Technology Compiler / Mingxuan)

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