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1、August 29,2025June Quarter 2025 ResultsDisclaimerThis presentation contains certain financial measures that are not recognized under generally accepted accounting principles in the United States(“GAAP”),including adjusted EBITDA(including adjusted EBITDA margin),adjusted EBITA(including adjusted EBI

2、TA margin),non-GAAP net income,non-GAAP diluted earnings per share/ADS and free cash flow.For a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures,see GAAP to Non-GAAP Measures Reconciliation,GAAP to Non-GAAP Net Income Attributable to Ordinary Sharehol

3、ders and the slides presenting revenue and EBITA by segments.This presentation contains forward-looking statements.These statements are made under the“safe harbor”provisions of the U.S.Private Securities Litigation Reform Act of 1995.These forward-looking statements can be identified by terminology

4、such as“may,”“will,”“expect,”“anticipate,”“future,”“aim,”“estimate,”“intend,”“seek,”“plan,”“believe,”“potential,”“continue,”“ongoing,”“target,”“guidance,”“is/are likely to”and similar statements.In addition,statements that are not historical facts,including statements about Alibabas strategies and b

5、usiness and operational plans,Alibabas beliefs,expectations and guidance regarding the growth of its business,its financial results,return on investments,strategic investments and dispositions and share repurchases,and the business outlook and quotations from management in this presentation,are or c

6、ontain forward-looking statements.Forward-looking statements involve inherent risks and uncertainties.A number of factors could cause actual results to differ materially from those contained in any forward-looking statement,including but not limited to:Alibabas ability to compete,innovate and mainta