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1、Fiscal Year 2025 Interim ReportNYSE:BABA HKEX:9988(HKD Counter)89988(RMB Counter)1CONTENTS 4 Management Discussion and Analysis 25 Directors and Chief Executive Officer 29 Disclosure of Interests 34 Equity Incentive Plans 38 Purchase,Sale or Redemption of our Companys Listed Securities 39 Other Info

2、rmation 42 Definitions 44 Financial Statements12Weighted Voting Rights We have one class of Shares,and each holder of our Shares is entitled to one vote per Share.Pursuant to our Articles of Association,for so long as the Partnership Condition(as defined in our Articles of Association)is satisfied,t

3、he Alibaba Partnership has the exclusive right to nominate or,in limited situations,appoint,up to a simple majority of the members of our board of directors.These rights are categorized as a weighted voting rights structure,or WVR structure,under the Hong Kong Listing Rules.As a result,we are deemed

4、 as a company with a WVR structure.Alibaba Partnership will remain in place for the life of the partnership unless our Articles of Association are amended to provide otherwise by a vote of shareholders representing at least 95%of shares that vote at a shareholders meeting.The nomination rights of th

5、e Alibaba Partnership will remain in place notwithstanding a change of control or merger of our company.For the names and information of our current partners and further details of the Alibaba Partnership,please see the section headed“Directors,Senior Management and Employees Directors and Senior Ma

6、nagement Alibaba Partnership”in our fiscal year 2024 annual report.Shareholders and prospective investors are advised to be aware of the potential risks of investing in companies with a WVR structure,in particular,the Alibaba Partnership limits the ability of our shareholders to nominate and elect d