Revenue

12 Months Ended

Mar. 31, 2025

Revenue by segment is as follows:


	Year ended March 31,
	2023			2024			2025
	RMB			RMB			RMB
	(in millions)
Taobao and Tmall Group:
China commerce retail (i)
- Customer management		291,541			304,009			322,346
- Direct sales and others (ii)		103,811			110,405			103,180
		395,352			414,414			425,526
China commerce wholesale (iii)		17,854			20,479			24,301
Total Taobao and Tmall Group		413,206			434,893			449,827

Alibaba International Digital Commerce Group:
International commerce retail (iv)		50,933			81,654			108,465
International commerce wholesale (v)		19,573			20,944			23,835
Total Alibaba International Digital Commerce Group		70,506			102,598			132,300

Cloud Intelligence Group (vi)		103,497			106,374			118,028
Cainiao Smart Logistics Network Limited (vii)		77,512			99,020			101,272
Local Services Group (viii)		50,249			59,802			67,076
Hujing Digital Media and Entertainment Group (ix)		18,444			21,145			22,267
All others (x)		197,115			192,331			206,269
Unallocated		866			1,297			1,924
Inter-segment elimination (xi)		(62,708	)		(76,292	)		(102,616	)
Consolidated revenue		868,687			941,168			996,347

(i)

Revenue from China commerce retail is primarily generated from China commerce retail business and includes primarily revenue from customer management services and sales of goods.

(ii)

Revenue from direct sales and others under China commerce retail is primarily generated from direct sales businesses, comprising mainly Tmall Supermarket and Tmall Global and primarily consists of revenue from sales of goods, as well as other revenue from logistics services and other value-added services.

(iii)

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.

(iv)

Revenue from International commerce retail is primarily generated from AliExpress, Trendyol and Lazada and includes revenue from customer management services, sales of goods and logistics services.

(v)

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.

(vi)

Revenue from Cloud Intelligence Group is primarily generated from the provision of cloud services, which include public cloud services and non-public cloud services.

(vii)

Revenue from Cainiao represents logistics services revenue from the domestic and cross-border fulfillment services.

5. Revenue (Continued)

(viii)

Revenue from Local Services Group primarily represents platform commissions, logistics services revenue from the provision of on-demand delivery services and revenue from other services provided by Ele.me, and revenue from software and technology services provided by Amap.

(ix)

Revenue from Hujing Digital Media and Entertainment Group is primarily generated from Youku and Damai Entertainment, and includes revenue from membership fees, content investment income, customer management services and ticketing services.

(x)

Revenue from All others represented revenue from businesses including Freshippo, Alibaba Health, Lingxi Games, Intelligent Information Platform, Fliggy, DingTalk, Sun Art, Intime and other businesses. The majority of revenue within All others consist of direct sales revenue, which is recorded on a gross basis. During the year ended March 31, 2025, the sale of Sun Art was completed and the sale of Intime was substantially completed. Details of the disposals are set out in Note 4(b) and Note 4(c) respectively.

(xi)

Inter-segment elimination consisted of revenue primarily from Cainiao and Cloud Intelligence Group.

(xii)

For the year ended March 31, 2024, as a result of the change in composition in reportable segments (Note 28), the Company reclassified revenue by segment. Figures for the year ended March 31, 2023 were reclassified to conform to this presentation.

Revenue by type is as follows:


	Year ended March 31,
	2023		2024		2025
	RMB		RMB		RMB
	(in millions)
Customer management services (i)		355,144		386,571		424,877
Membership fees and value-added services		40,078		41,956		46,613
Logistics services		89,214		114,073		123,379
Cloud services		76,648		76,459		84,517
Sales of goods		271,016		283,273		274,276
Other revenue (ii)		36,587		38,836		42,685
		868,687		941,168		996,347

(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, other value-added 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, 2023, 2024 and 2025 were not material.