On May 14th, Alibaba released its quarterly report for the year ended March 31, 2024, as well as its performance report for the fiscal year 2024 (April 1, 2023 to March 31, 2024). Looking at the entire fiscal year, Alibaba achieved an annual revenue of 941.168 billion yuan, a year-on-year increase of 8%; The operating profit was 100.351 billion yuan, a year-on-year increase of 13%; Adjusted EBITDA was RMB 175.71 billion, a year-on-year increase of 9%. It is worth noting that Alibaba has experienced a situation of "increasing revenue without increasing profits". Data shows that the company achieved a revenue of 221.874 billion yuan in this fiscal quarter, a year-on-year increase of 7%, and the market expected a growth rate of 219.8 billion yuan, exceeding expectations. However, under non GAAP accounting standards, Alibaba's net profit for this quarter was 24.418 billion yuan, a decrease of 11% from the net profit of 27.375 billion yuan in the same period of 2023.