Alibaba (09988.HK): Product development expenses for the quarter were RMB15.48 billion, representing 5.4% of revenue. Excluding the impact of share-based compensation expenses, the ratio of product development expenses to revenue would increase from

2026-03-19

Alibaba (09988.HK): Product development expenses for the quarter were RMB15.48 billion, representing 5.4% of revenue. Excluding the impact of share-based compensation expenses, the ratio of product development expenses to revenue would increase from 4.7% for the three months ended December 31, 2024 to 4.8% for the three months ended December 31, 2025.