Alibaba Health Information Technology (241) investor relations material

Executive summary

• Revenue for the six months ended September 30, 2025, rose 17.0% year-over-year to RMB16,697.1 million, with net profit up 64.7% to RMB1,266.4 million and adjusted net profit up 38.7% to RMB1,356.3 million.

• Net profit margin increased to 7.6% from 5.4% in the prior year period; adjusted net profit margin was 8.1%.

• Tmall Healthcare Platform saw strong growth in GMV, SKUs, and merchants, with SKUs up over 24% to 97 million and merchants up over 39% to 56,000.

• Over 250,000 licensed healthcare professionals provided online consultation services, up 12% year-over-year.

• Continued investment in AI and digital healthcare infrastructure to drive innovation and future growth.

Financial highlights

• Gross profit increased 18.4% year-over-year to RMB4,183.98 million, with gross margin improving to 25.1%.

• Fulfillment costs rose 7.9% to RMB1,365.7 million, but as a percentage of direct sales revenue, fell to 8.2%.

• Selling and marketing expenses increased 21.2% to RMB1,188.7 million, representing 7.1% of total revenue.

• Administrative expenses rose 3.9% to RMB190.1 million, while product development expenses decreased 1.9% to RMB313.1 million.

• Other income and gains surged 57.6% to RMB514.8 million, mainly from investment gains.

Outlook and guidance

• The company aims to further integrate AI technologies and expand its smart healthcare ecosystem, focusing on accessible, efficient, and safe healthcare services.

• Focus on expanding the online-offline smart healthcare ecosystem and leveraging demographic and consumption trends.