v3.26.1
Revenue
12 Months Ended
Mar. 31, 2026
Revenues [Abstract]  
Revenue
5.
Revenue

Revenue by segment is as follows:

 

 

Year ended March 31,

 

 

2024

 

 

2025

 

 

2026

 

 

 

RMB

 

 

RMB

 

 

RMB

 

 

(in millions)

 

Alibaba China E-commerce Group:

 

 

 

 

 

 

 

 

 

E-commerce (i)

 

 

 

 

 

 

 

 

 

- Customer management

 

 

307,950

 

 

 

326,769

 

 

 

343,867

 

- Direct sales, logistics and others (ii)

 

 

110,820

 

 

 

103,722

 

 

 

105,518

 

 

 

418,770

 

 

 

430,491

 

 

 

449,385

 

Quick commerce (iii)

 

 

50,852

 

 

 

53,588

 

 

 

78,520

 

China commerce wholesale (iv)

 

 

20,479

 

 

 

24,301

 

 

 

26,312

 

Total Alibaba China E-commerce Group

 

 

490,101

 

 

 

508,380

 

 

 

554,217

 

 

 

 

 

 

 

 

 

 

 

Alibaba International Digital Commerce Group:

 

 

 

 

 

 

 

 

 

International commerce retail (v)

 

 

81,654

 

 

 

108,465

 

 

 

117,731

 

International commerce wholesale (vi)

 

 

20,944

 

 

 

23,835

 

 

 

26,439

 

Total Alibaba International Digital Commerce Group

 

 

102,598

 

 

 

132,300

 

 

 

144,170

 

 

 

 

 

 

 

 

 

 

 

Cloud Intelligence Group (vii)

 

 

106,374

 

 

 

118,028

 

 

 

158,132

 

All others (viii)

 

 

317,539

 

 

 

338,347

 

 

 

254,367

 

Unallocated

 

 

1,297

 

 

 

1,924

 

 

 

2,340

 

Inter-segment elimination (ix)

 

 

(76,741

)

 

 

(102,632

)

 

 

(89,556

)

Consolidated revenue

 

 

941,168

 

 

 

996,347

 

 

 

1,023,670

 

 

(i)
Revenue from China commerce retail is primarily generated from Alibaba China E-commerce Group and includes primarily revenue from customer management services, sales of goods and logistics services.
(ii)
Revenue from direct sales, logistics and other revenue under Alibaba China E-commerce Group primarily represents direct sales businesses of Tmall Supermarket, Tmall Global and other businesses, and primarily consists of revenue from sales of goods, as well as logistics services.
(iii)
Revenue from Quick commerce is primarily generated through “Taobao Instant Commerce” and the Ele.me app. Quick commerce revenue is net of subsidies that are contra revenue, and includes primarily revenue from logistics services and customer management services.
(iv)
Revenue from China commerce wholesale is primarily generated from 1688.com and includes revenue from membership fees and related value-added services and customer management services.
(v)
Revenue from International commerce retail is primarily generated from AliExpress, Trendyol and Lazada and includes revenue from customer management services, logistics services and sales of goods.
(vi)
Revenue from International commerce wholesale is primarily generated from Alibaba.com and includes revenue from membership fees and related value-added services and customer management services.
(vii)
Revenue from Cloud Intelligence Group is primarily generated from the provision of cloud services, which include public cloud services and non-public cloud services.

 

 

 

 

5. Revenue (Continued)

 

(viii)
Revenue from All others represented revenue from businesses including Freshippo, Cainiao, Alibaba Health, Hujing Digital Media and Entertainment Group, Amap, Qwen Consumer Business Group, Lingxi Games, DingTalk, Sun Art, Intime and other businesses. Revenue within All others includes primarily revenue from sales of goods, and logistics services. During the year ended March 31, 2025, the sale of Sun Art was completed and the sale of Intime was substantially completed. The sale of Intime was fully completed during the year ended March 31, 2026. Details of the disposals are set out in Note 4(c) and Note 4(d) respectively.
(ix)
Inter-segment elimination consisted of revenue primarily from Cloud Intelligence Group and Cainiao.
(x)
As a result of the change in composition in reportable segments (Note 29), the Company reclassified revenue by segment. Comparative figures for the year ended March 31, 2024 and 2025 were reclassified to conform to the segment presentation.

Revenue by type is as follows:

 

 

Year ended March 31,

 

 

2024

 

 

2025

 

 

2026

 

 

 

RMB

 

 

RMB

 

 

RMB

 

 

(in millions)

 

Customer management services (i)

 

 

386,571

 

 

 

424,877

 

 

 

459,917

 

Membership fees and value-added services

 

 

41,956

 

 

 

46,613

 

 

 

47,638

 

Logistics services

 

 

114,073

 

 

 

123,379

 

 

 

139,864

 

Cloud services

 

 

76,459

 

 

 

84,517

 

 

 

112,077

 

Sales of goods

 

 

283,273

 

 

 

274,276

 

 

 

227,747

 

Other revenue (ii)

 

 

38,836

 

 

 

42,685

 

 

 

36,427

 

 

 

941,168

 

 

 

996,347

 

 

 

1,023,670

 

 

(i)
Customer management services mainly include CPC, CPM, time-based and CPS marketing and software services.
(ii)
Other revenue includes revenue from self-developed online games and multiple services provided through various platforms and businesses.

The amount of revenue recognized for performance obligations satisfied (or partially satisfied) in prior periods for contracts with expected duration of more than one year during the years ended March 31, 2024, 2025 and 2026 were not material.