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[Alibaba's share price rebounded after a brief decline, and its performance exceeded expectations] On May 16, Alibaba on the Hong Kong stock market (9988arkanoid.HK) fell 4.65% to HK$78.8 immediately after opening, and then recovered quickly. Alibaba closed at US$80.99 on the U.S. stock market overnight. After exchange rate conversion, its Hong Kong stock market price was HK$79.31/share.

On Tuesday night, Alibaba disclosedarkanoidIt reviewed its fourth-quarter results for the fiscal year 2024 ended March 31, 2024. According to the announcement, the company achieved total revenue of 221.874 billion yuan during the quarter, a year-on-year increase of 7%, which was better than the market expectation of 220.6 billion yuan. Although adjusted net profit fell 11% year-on-year to 24.418 billion yuan, overall performance remained strong.