Thanks to the expansion of business scale and improved operational efficiency, Alibaba's core business achieved steady growth this quarter, with revenue in the first quarter increasing 4% year-on-year, but net profit falling 27% year-on-year.

Alibaba Group reported its fiscal 2024 fourth quarter and full year results and declared a 4 billion dollars dividend for fiscal 2024.

Before this 618 festival, Taobao and JD.com announced the cancellation of the pre-sale mode.

On December 20, Alibaba Group Chairman Cai Chongxin issued a full letter.。The letter mentions that Ali CEO and Tao Tian Group Chairman Wu Yongming will concurrently serve as Tao Tian Group CEO。