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BABA to Continue to Drive Accelerating Growth of Core Biz & AI Innovation
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Joe Tsai, Chairman of BABA-SW (09988.HK), and Chief Executive Officer Eddie Wu issued a joint letter to shareholders saying that the past fiscal year was a watershed for the Group, with a series of key adjustments made around strategic clarity and focus. BABA-SW has suffered from some issues of a corporation over the past 25 years, and the Group will once again see itself as a startup in the next 10 years. BABA-SW generated US$21.6 billion of free cash flow in FY2024, with the Group declaring a US$2.5 billion dividend for the first time and repurchasing US$12.5 billion of its shares, according to management. However, the return of cash to shareholders does not mean the Group will stop investing, and the Group will continue to invest in two key areas, including accelerating the growth of its core business and maintaining leadership in fundamental technologies and innovation, including AI. AAStocks Financial News |
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