中商官网
研究报告
阿里巴巴-W（HK9988）
主要经济指标
| 类别\年份 | 营业额 （元) |
营业额同比 （%) |
营业利润 （元) |
营业利润同比 （%) |
利润总额 （元) |
利润总额同比 （%) |
净利润 （元) |
净利润同比 （%) |
| 2025-03 | 996347000000.0000 | 5.86 | 398062000000.0000 | 12.18 | 161421000000.0000 | 71.98 | 129470000000.0000 | 62.36 |
| 2024-12 | 759893000000.0000 | 5.64 | 307234000000.0000 | 9.31 | 142594000000.0000 | 63.49 | 117088000000.0000 | 53.11 |
| 2024-09 | 479739000000.0000 | 4.53 | 189604000000.0000 | 7.16 | 82528000000.0000 | 10.88 | 68143000000.0000 | 9.84 |
| 2024-06 | 243236000000.0000 | 3.88 | 97130000000.0000 | 5.80 | 32580000000.0000 | -9.93 | 24269000000.0000 | -29.31 |
| 2023-12 | 719294000000.0000 | 8.90 | 281069000000.0000 | 12.60 | 87220000000.0000 | 36.54 | 76471000000.0000 | 56.09 |
| 2023-09 | 458946000000.0000 | 11.20 | 176935000000.0000 | 16.51 | 74429000000.0000 | 454.70 | 62038000000.0000 | 2748.39 |
| 2024-03 | 941168000000.0000 | 8.34 | 354845000000.0000 | 11.24 | 93861000000.0000 | 5.24 | 79741000000.0000 | 9.97 |
| 2023-03 | 868687000000.0000 | 1.83 | 318992000000.0000 | 1.72 | 89185000000.0000 | 49.76 | 72509000000.0000 | 17.03 |
| 2023-06 | 234156000000.0000 | 13.91 | 91809000000.0000 | 20.96 | 36172000000.0000 | 23.97 | 34332000000.0000 | 50.98 |
| 2022-09 | 412731000000.0000 | 1.55 | 151864000000.0000 | -0.47 | 13418000000.0000 | -73.05 | 2178000000.0000 | -95.69 |
| 2022-06 | 205555000000.0000 | -0.09 | 75898000000.0000 | -7.04 | 29177000000.0000 | -36.35 | 22739000000.0000 | -49.63 |
| 2022-12 | 660487000000.0000 | 1.77 | 249615000000.0000 | 0.45 | 63877000000.0000 | -19.26 | 48993000000.0000 | -37.35 |
| 2021-12 | 649010000000.0000 | 22.48 | 248505000000.0000 | 6.13 | 79110000000.0000 | -54.05 | 78200000000.0000 | -49.80 |
| 2022-03 | 853062000000.0000 | 18.93 | 313612000000.0000 | 5.92 | 59550000000.0000 | -64.04 | 61959000000.0000 | -58.78 |
| 2021-06 | 205740000000.0000 | 33.81 | 81643000000.0000 | 17.93 | 45838000000.0000 | -19.88 | 45141000000.0000 | -5.15 |
| 2021-09 | 406430000000.0000 | 31.61 | 152583000000.0000 | 13.59 | 49784000000.0000 | -38.84 | 50508000000.0000 | -33.86 |
| 2021-03 | 717289000000.0000 | 40.72 | 296084000000.0000 | 30.24 | 165578000000.0000 | -0.64 | 150308000000.0000 | 0.70 |
| 2020-09 | 308810000000.0000 | 32.00 | 134327000000.0000 | 23.91 | 81403000000.0000 | -26.56 | 76360000000.0000 | -18.59 |
| 2020-12 | 529894000000.0000 | 34.02 | 234143000000.0000 | 26.20 | 172175000000.0000 | 2.97 | 155787000000.0000 | 6.63 |
| 2020-06 | 153751000000.0000 | 33.78 | 69228000000.0000 | 26.01 | 57212000000.0000 | 125.98 | 47591000000.0000 | 123.94 |
| 2020-03 | 509711000000.0000 | 35.26 | 227344000000.0000 | 33.80 | 166645000000.0000 | 73.19 | 149263000000.0000 | 70.39 |
| 2019-12 | 395397000000.0000 | 39.55 | 185532000000.0000 | 40.53 | 167214000000.0000 | 143.59 | 146101000000.0000 | 136.52 |
| 2019-09 | 233941000000.0000 | 40.87 | 108408000000.0000 | 43.47 | 110840000000.0000 | 254.87 | 93792000000.0000 | 226.60 |
| 2019-06 | 114924000000.0000 | 42.02 | 54937000000.0000 | 47.68 | 25317000000.0000 | 81.22 | 21252000000.0000 | 144.70 |
| 2019-03 | 376844000000.0000 | 50.58 | 169915000000.0000 | 18.64 | 96221000000.0000 | -4.17 | 87600000000.0000 | 36.91 |
| 2018-12 | 283346000000.0000 | -- | 132027000000.0000 | -- | 68645000000.0000 | -- | 61770000000.0000 | -- |
| 2018-03 | 250266000000.0000 | 58.12 | 143222000000.0000 | 44.98 | 100403000000.0000 | 67.26 | 63985000000.0000 | 46.50 |
| 2018-09 | 166068000000.0000 | -- | 75562000000.0000 | -- | 31234000000.0000 | -- | 28718000000.0000 | -- |
| 2018-06 | 80920000000.0000 | -- | 37200000000.0000 | -- | 13970000000.0000 | -- | 8685000000.0000 | -- |
| 2017-03 | 158273000000.0000 | -- | 98790000000.0000 | -- | 60029000000.0000 | -- | 43675000000.0000 | -- |
盈利能力分析
| 类别\年份 | 销售毛利率 （%) |
主营利润率 （%) |
总资产利润率 （%) |
净资产收益率 （%) |
存货周转率 | 应收账款周转率 （次) |
总资产周转率 （次) |
| 2025-03 | 39.95 | 15.6000 | 8.95 | 12.6700 | -- | -- | 0.55 |
| 2024-12 | 40.43 | 14.3100 | 7.69 | 11.7000 | -- | -- | 0.41 |
| 2024-09 | 39.52 | 13.6300 | 4.68 | 7.1400 | -- | -- | 0.27 |
| 2024-06 | 39.93 | 14.0000 | 1.83 | 2.5900 | -- | -- | 0.14 |
| 2023-12 | 39.08 | 13.3500 | 4.79 | 7.5700 | -- | -- | 0.40 |
| 2023-09 | 38.55 | 16.3800 | 4.11 | 5.9900 | -- | -- | 0.25 |
| 2024-03 | 37.70 | 10.7900 | 5.32 | 8.0000 | -- | -- | 0.53 |
| 2023-03 | 36.72 | 10.2700 | 5.09 | 7.3300 | -- | -- | 0.50 |
| 2023-06 | 39.21 | 17.9700 | 2.04 | 3.3900 | -- | -- | 0.13 |
| 2022-09 | 36.79 | 12.2400 | 0.78 | 0.2300 | -- | -- | 0.24 |
| 2022-06 | 36.92 | 11.5800 | 1.71 | 2.3600 | -- | -- | 0.12 |
| 2022-12 | 37.79 | 12.9400 | 3.60 | 5.0200 | -- | -- | 0.37 |
| 2021-12 | 38.29 | 12.1900 | 4.49 | 8.0300 | -- | -- | 0.37 |
| 2022-03 | 36.76 | 6.9800 | 3.51 | 6.5300 | -- | -- | 0.50 |
| 2021-06 | 39.68 | 22.2800 | 2.67 | 4.6300 | -- | -- | 0.12 |
| 2021-09 | 37.54 | 12.2500 | 2.88 | 5.2500 | -- | -- | 0.24 |
| 2021-03 | 41.28 | 23.0800 | 9.80 | 16.0300 | -- | -- | 0.42 |
| 2020-09 | 43.50 | 26.3600 | 5.68 | 8.9100 | -- | -- | 0.22 |
| 2020-12 | 44.19 | 32.4900 | 10.53 | 16.6300 | -- | -- | 0.32 |
| 2020-06 | 45.03 | 37.2100 | 4.18 | 5.8800 | -- | -- | 0.11 |
| 2020-03 | 44.60 | 32.6900 | 12.69 | 19.7600 | -- | -- | 0.39 |
| 2019-12 | 46.92 | 42.2900 | 12.67 | 19.6300 | -- | -- | 0.30 |
| 2019-09 | 46.34 | 47.3800 | 9.56 | 15.5600 | -- | -- | 0.20 |
| 2019-06 | 47.80 | 22.0300 | 2.48 | 4.0800 | -- | -- | 0.11 |
| 2019-03 | 45.09 | 25.5300 | 9.97 | 17.8000 | -- | -- | 0.39 |
| 2018-12 | 46.60 | 24.2300 | -- | -- | -- | -- | -- |
| 2018-03 | 57.23 | 40.1200 | 14.00 | 17.4900 | -- | -- | 0.35 |
| 2018-09 | 45.50 | 18.8100 | -- | -- | -- | -- | -- |
| 2018-06 | 45.97 | 17.2600 | -- | -- | -- | -- | -- |
| 2017-03 | 62.42 | 37.9300 | 11.84 | 15.6700 | -- | -- | 0.31 |
偿债能力分析
| 类别\年份 | 资产负债率 （%) |
股东权益比率 （%) |
流动比率 | 速动比率 |
| 2025-03 | 39.58 | 60.42 | 1.55 | 1.55 |
| 2024-12 | 40.98 | 59.02 | 1.48 | 1.48 |
| 2024-09 | 39.99 | 60.01 | 1.37 | 1.37 |
| 2024-06 | 40.99 | 59.01 | 1.41 | 1.41 |
| 2023-12 | 37.26 | 62.74 | 1.80 | 1.80 |
| 2023-09 | 35.41 | 64.59 | 1.94 | 1.94 |
| 2024-03 | 36.96 | 63.04 | 1.79 | 1.79 |
| 2023-03 | 35.94 | 64.06 | 1.81 | 1.81 |
| 2023-06 | 35.44 | 64.56 | 1.92 | 1.92 |
| 2022-09 | 36.79 | 63.21 | 1.77 | 1.77 |
| 2022-06 | 35.83 | 64.17 | 1.72 | 1.72 |
| 2022-12 | 37.38 | 62.62 | 1.74 | 1.74 |
| 2021-12 | 36.38 | 63.62 | 1.64 | 1.64 |
| 2022-03 | 36.17 | 63.83 | 1.66 | 1.66 |
| 2021-06 | 34.78 | 65.22 | 1.76 | 1.76 |
| 2021-09 | 35.77 | 64.23 | 1.65 | 1.65 |
| 2021-03 | 35.89 | 64.11 | 1.70 | 1.70 |
| 2020-09 | 31.56 | 68.44 | 1.99 | 1.99 |
| 2020-12 | 33.81 | 66.19 | 1.67 | 1.67 |
| 2020-06 | 32.19 | 67.81 | 1.98 | 1.98 |
| 2020-03 | 33.00 | 67.00 | 1.91 | 1.91 |
| 2019-12 | 34.28 | 65.72 | 1.75 | 1.75 |
| 2019-09 | 37.24 | 62.76 | 1.38 | 1.38 |
| 2019-06 | 36.69 | 63.31 | 1.38 | 1.38 |
| 2019-03 | 36.23 | 63.77 | 1.30 | 1.30 |
| 2018-12 | -- | -- | -- | -- |
| 2018-03 | 38.72 | 61.28 | 1.89 | 1.89 |
| 2018-09 | -- | -- | -- | -- |
| 2018-06 | -- | -- | -- | -- |
| 2017-03 | 36.05 | 63.95 | 1.94 | 1.94 |
成本费用分析
| 类别\年份 | 销售成本 （元) |
销售费用 （元) |
管理费用 （元) |
财务费用 （元) |
| 2025/3/31 0:00:00 | 598285000000.0000 | -- | 107726000000.0000 | -11163000000.0000 |
| 2024/12/31 0:00:00 | 452659000000.0000 | -- | 76125000000.0000 | 7100000000.0000 |
| 2024/9/30 0:00:00 | 290135000000.0000 | -- | 54053000000.0000 | 4615000000.0000 |
| 2024/6/30 0:00:00 | 146106000000.0000 | -- | 28445000000.0000 | 2188000000.0000 |
| 2023/12/31 0:00:00 | 438225000000.0000 | -- | 66137000000.0000 | 5770000000.0000 |
| 2023/9/30 0:00:00 | 282011000000.0000 | -- | 46298000000.0000 | 3638000000.0000 |
| 2024/3/31 0:00:00 | 586323000000.0000 | -- | 115833000000.0000 | 17911000000.0000 |
| 2023/3/31 0:00:00 | 549695000000.0000 | -- | 112431000000.0000 | 16989000000.0000 |
| 2023/6/30 0:00:00 | 142347000000.0000 | -- | 20241000000.0000 | 1784000000.0000 |
| 2022/9/30 0:00:00 | 260867000000.0000 | -- | 53847000000.0000 | 2632000000.0000 |
| 2022/6/30 0:00:00 | 129657000000.0000 | -- | 25377000000.0000 | 1244000000.0000 |
| 2022/12/31 0:00:00 | 410872000000.0000 | -- | 72215000000.0000 | 4182000000.0000 |
| 2021/12/31 0:00:00 | 400505000000.0000 | -- | 77844000000.0000 | -17286000000.0000 |
| 2022/3/31 0:00:00 | 539450000000.0000 | -- | 99034000000.0000 | 20611000000.0000 |
| 2021/6/30 0:00:00 | 124097000000.0000 | -- | 23760000000.0000 | -12834000000.0000 |
| 2021/9/30 0:00:00 | 253847000000.0000 | -- | 50837000000.0000 | -111000000.0000 |
| 2021/3/31 0:00:00 | 421205000000.0000 | -- | 124887000000.0000 | -68318000000.0000 |
| 2020/9/30 0:00:00 | 174483000000.0000 | -- | 54965000000.0000 | -30423000000.0000 |
| 2020/12/31 0:00:00 | 295751000000.0000 | -- | 80436000000.0000 | -69367000000.0000 |
| 2020/6/30 0:00:00 | 84523000000.0000 | -- | 20871000000.0000 | -21014000000.0000 |
| 2020/3/31 0:00:00 | 282367000000.0000 | -- | 84665000000.0000 | -67776000000.0000 |
| 2019/12/31 0:00:00 | 209865000000.0000 | -- | 62163000000.0000 | -76656000000.0000 |
| 2019/9/30 0:00:00 | 125533000000.0000 | -- | 40399000000.0000 | -60829000000.0000 |
| 2019/6/30 0:00:00 | 59987000000.0000 | -- | 19864000000.0000 | 1159000000.0000 |
| 2019/3/31 0:00:00 | 206929000000.0000 | -- | 73051000000.0000 | -38916000000.0000 |
| 2018/12/31 0:00:00 | 151319000000.0000 | -- | 53577000000.0000 | -21554000000.0000 |
| 2018/3/31 0:00:00 | 107044000000.0000 | -- | 46115000000.0000 | -26929000000.0000 |
| 2018/9/30 0:00:00 | 90506000000.0000 | -- | 36014000000.0000 | -11328000000.0000 |
| 2018/6/30 0:00:00 | 43720000000.0000 | -- | 20259000000.0000 | -6033000000.0000 |
| 2017/3/31 0:00:00 | 59483000000.0000 | -- | 34421000000.0000 | -5888000000.0000 |