By XU Shiqi
Alibaba's 2023 fiscal year report showed overall revenue up only 2 percent to US$ 126.5 billion. Domestic e-commerce declined, but Cainiao, the group's logistics arm, and Alibaba Cloud grew by over 20 percent. Net profit rose 39 percent to 65.6 billion yuan (US$9.5 billion).
Alibaba's retail business in China, including Tmall and Taobao, contributed 65 percent of revenue. Its international trade, including Lazada and AliExpress, accounted for 8 percent. Alibaba Cloud grew by 24 percent, and Cainiao by 20.7 percent.
In a shareholder letter, Alibaba outlined plans for its subsidiaries, including Alibaba Cloud’s separate listing and Cainiao Network and Freshippo seeking independent IPOs.
The 2023 report highlights Alibaba’s customer reach, serving over a billion Chinese consumers and millions globally. Cainiao Network fulfills millions of international orders daily.
Alibaba’s Chairman, Joe Tsai, owns 1.4 percent of the company’s shares. SoftBank remains a major shareholder with a 13.9 percent stake.
