ALIHEALTH：ANNOUNCEMENTOFFINALRESULTSFORTHEYEARENDEDMARCH312025.pdf

《ALIHEALTH：ANNOUNCEMENTOFFINALRESULTSFORTHEYEARENDEDMARCH312025.pdf》由會員分享，可在線閱讀，更多相關《ALIHEALTH：ANNOUNCEMENTOFFINALRESULTSFORTHEYEARENDEDMARCH312025.pdf（32頁珍藏版）》請在三個皮匠報告上搜索。

1、 1 Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement,make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in rel

2、iance upon the whole or any part of the contents of this announcement.ALIBABA HEALTH INFORMATION TECHNOLOGY LIMITED(Incorporated in Bermuda with limited liability)(Stock Code:00241)阿 里 健 康 信 息 技 術 有 限 公 司ANNOUNCEMENT OF FINAL RESULTS FOR THE YEAR ENDED MARCH 31,2025The board(the“Board”)of directors(

3、the“Directors”)of Alibaba Health Information Technology Limited(the“Company”or“Alibaba Health”)is pleased to announce the audited annual results of the Company and its subsidiaries(collectively referred to as the“Group”)for the year ended March 31,2025(the“Reporting Period”or“FY2025”)together with c

4、omparative figures for the preceding financial year(the“Corresponding Period”).The annual consolidated financial statements have been reviewed by the audit committee of the Company(the“Audit Committee”).HIGHLIGHTSDuring the Reporting Period,the Group achieved a steady growth in revenue,with its tota

5、l revenue reaching RMB30,598.3 million,representing an increase of 13.2%year-on-year.The net profit for the Reporting Period reached RMB1,432.0 million,representing an increase of 62.2%year-on-year.The adjusted net profit totaled RMB1,949.7 million,representing an increase of 35.6%year-on-year,and a

6、djusted net profit margin improved from 5.3%to 6.4%.The business of the Tmall Healthcare Platform continued to grow at a steady pace,along with the robust growth in the annual gross merchandise volume(“GMV”)and the continued increase in the number of annual active users(those who made one or more ac

7、tual purchase(s)on the Tmall Healthcare Platform within the past 12 months)during the Reporting Period.By actively operating the advertising business within the Tmall healthcare categories continuously empowering merchants and enhancing manufacturers operational service capabilities,the Group achiev

8、ed rapid growth in revenue during the Reporting Period.By applying large language models to provide healthcare services,the Group achieved end-to-end AI integration across its pharmaceutical e-commerce business,including traffic acquisition,supply chain management,and service delivery.Looking ahead,

9、the Group will continue to actively explore the application of large models in healthcare services,in a bid to further optimize operational efficiency and improve process quality across the healthcare field.2 KEY FINANCIAL FIGURESFor the year ended March 31,20252024ChangeRMB000RMB000%Revenue30,598,2

10、9227,026,55513.2Gross profit7,432,0915,895,32126.1Profit for the year1,432,014883,13662.2Adjusted net profit(Note)1,949,6731,437,92835.6Note:Adjusted net profit is based on the profit for the respective year after excluding non-operating profit or loss items such as share-based compensation expenses

11、,change in fair value of equity investments at fair value through profit or loss(“FVPL”)(net of tax),gain on deemed disposal of associates(net of tax),gain or loss on partial disposal of associates(net of tax)and impairment of investments in associates(net of tax).With the exclusion of the impact of

12、 such items,which are not indicative of our key operational performance,investors can better compare our operational performance across various years.MANAGEMENT DISCUSSION AND ANALYSISBUSINESS REVIEWIn FY2025,the“Internet+Healthcare”industry has undergone continuous and progressive advancement.Guide

13、d by the Central Economic Work Conferences strategy to“expand domestic demand and boost the dynamism and reliability of the domestic economy”,the National Health Commission,in collaboration with other ministries and commissions,are further advancing and strengthening the reforms in“demand-side manag

14、ement”.A series of policies have been introduced to further encourage systematic measures including optimizing the medical insurance payment mechanisms,expanding the coverage of online diagnosis and treatment,and encouraging innovative healthcare models,to promote the high-quality,multi-tiered and i

15、nclusive development of the healthcare industry.On April 7,2025,12 departments including the Ministry of Commerce and the National Health Commission jointly issued the Notice on“Special Action Plan to Promote Healthy Consumption”(促進健康消費專項行動方案),which clearly outlines the optimization of the structure

16、 of health-related products supply chains,encouraging the development of niche sectors such as nutritional supplements,traditional Chinese medicine(“TCM”)wellness,health monitoring and elderly care products and services,while supporting e-commerce platforms in expanding market coverage.The Governmen

17、t Work Report of the Two Sessions in 2025 highlights the“implementation of special actions to boost consumption”,supported by the issue of ultra-long-term special treasury bonds of RMB300 billion to promote trade-in of consumer goods,directly integrating this initiative to health consumption.Alibaba

18、 Health actively participated in these targeted initiatives,leveraging government subsidies to lower consumption barriers and addressing users demand for replacing products through“direct discounts and subsidies”models.3 Besides,in the field of healthcare innovation,the Government Work Report of the

19、 Two Sessions further clarify and solidify the research,development and application of artificial intelligence(“AI”),supporting the widespread adoption of large-scale models,with a strategic focus on AI application in key sectors such as healthcare and education.In July 2024,the National Health Comm

20、ission,the National Administration of Traditional Chinese Medicine,and the National Disease Control and Prevention Administration jointly released the“Reference Guidance for Artificial Intelligence Application Scenarios in the Healthcare Industry”(衛生健康行業人工智能應用場景參考指引),providing clear direction and re

21、ferences for AI applications in the healthcare industry.The guidance covers application scenarios across four major sectors of“AI+”namely,medical services management,primary health services,health industry development,and medical scientific research,establishing a standardized foundation for Alibaba

22、 Healths active exploration in the field of medical AI.During the Reporting Period,following government policy guidance,actively responding to initiatives,the various business operations of Alibaba Health continued to maintain stable growth.During the Reporting Period,the Group achieved a steady gro

23、wth in revenue,with its total revenue reaching RMB30,598.3 million,representing an increase of 13.2%year-on-year.The net profit reached RMB1,432.0 million,representing an increase of 62.2%year-on-year.The adjusted net profit totaled RMB1,949.7 million,representing an increase of 35.6%year-on-year,an

24、d adjusted net profit margin improved from 5.3%to 6.4%.The business of the Tmall Healthcare Platform continued to grow at a steady pace,along with the healthy growth in the annual GMV and the continued increase in the number of paid annual active users(“AAU”)(those who made one or more actual purcha

25、se(s)on the Tmall Healthcare Platform within the past 12 months)during the Reporting Period.As at March 31,2025,both the number of online proprietary merchants and the number of merchants with transactions on the Tmall Healthcare Platform sustained rapid growth,and as at the end of the Reporting Per

26、iod,the number of merchants with transactions served increasing by 35%year-on-year to 48,300,along with the number of online SKUs increasing by more than 91%year-on-year to 133 million.As at March 31,2025,the effective GMV of direct online stores maintained a healthy growth,with the number of AAUs a

27、nd the membership of direct sales business continue to rise.SKUs from direct sales business increased by 33.6%year-on-year to 1.23 million.Meanwhile,the Group continued to enhance user experience for chronic disease patients,achieving both growth in the number of chronic disease users and a 9%year-o

28、n-year increase in average duration of therapy(DOT)per user.During the Reporting Period,the Group further integrated and optimized its pharmaceutical logistics network with a focus on improving overall logistics experience.While maintaining a consistently high next-day delivery rate for medications,

29、next-day delivery services were progressively expanded to cover 13 cities,including Guangzhou,Ningbo,Jinhua,Jiaxing,Shaoxing,Huzhou,Taizhou and Wenzhou.4 In the healthcare services segment,as at the end of the Reporting Period,the total number of licensed physicians,pharmacists and nutritionists who

30、 contracted with the Group to provide online health consultation services continued to grow and reached nearly 240,000(including Xiaolu TCM).As the flagship healthcare platform of Alibaba Group Holding Limited(“Alibaba Holding”,together with its subsidiaries,“Alibaba Group”),the Group upholds its as

31、piration in making healthcare services accessible and affordable while adhering to the highest industry standards of compliance and service quality.With this in mind,the Group will continue to consolidate and strengthen its established competitive strengths and business foundations in healthcare,whi

32、le proactively exploring innovative business models and fostering industry development for the future to align with the evolving needs of its customers.The Group will utilize its leading digital technology and operational capabilities,with“cloud-based infrastructure”as its foundation,“cloud-based ph

33、armacy”as its core,and“cloud-based hospital”as its growth driver to provide affordable,convenient,efficient and reliable medical and healthcare services to hundreds of millions of families.Pharmaceutical E-commerce BusinessThe Groups pharmaceutical e-commerce business remains user-centric,fully leve

34、raging its well-established brand strengths and resources accumulated over the years.Leveraging its strengths in e-commerce,big data and cloud computing,the Group operates through an integrated model combining Tmall Healthcare E-commerce Platform,pharmaceutical direct sales business and e-commerce a

35、dvertising business.The Group actively expands its cooperation with recognized upstream manufacturers and distributors in pharmaceutical,nutritional,healthcare,and medical device segments,so as to provide a comprehensive internet-based health solutions that are tailored to users diverse needs.During

36、 the Reporting Period,by actively operating the advertising business within the Tmall healthcare categories(for further details,please refer to the announcement of the Company dated November 28,2023),continuously empowering merchants and enhancing manufacturers operational service capabilities,the G

37、roup achieved rapid growth in revenue as compared to the Corresponding Period.Pharmaceutical E-Commerce Platform Business Tmall Healthcare PlatformDuring the Reporting Period,as a leading online pharmaceutical and healthcare products service platform in China,Tmall Healthcare Platform continued to l

38、everage its digital capabilities to drive business innovation.By collaborating with business and industry partners to jointly explore new development trends,expand market boundaries and focus on user demand trends,the Group provides users with more accessible and quality healthcare services.During t

39、he Reporting Period,the annual GMV and the number of AAUs continued to increase.The number of merchants with transactions served increased rapidly by 35%year-on-year to 48,300,and online SKUs grew by over 91%to 133 million as at March 31,2025.5 The injection of the advertising business(for further d

40、etails,please refer to the announcement of the Company dated November 28,2023)further enhanced the comprehensiveness of the Tmall Healthcare Platform business model.During the Reporting Period,while providing more customized services to merchants,the Group actively promoted the business growth of me

41、rchants and improved the merchant experience and satisfaction,achieving rapid growth in revenue year-on-year.Pharmaceutical Direct Sales BusinessAdhering to its operation motto of“authenticity,affordability,professionalism and reliability”,the Groups pharmaceutical direct sales business is committed

42、 to providing consumers from Tmall,Taobao,Alipay,Ele.me and other segments with comprehensive and affordable healthcare services,including prescription drugs,over-the-counter(OTC)drugs,nutritional supplements,medical devices and contact lenses.During the Reporting Period,the revenue of the pharmaceu

43、tical direct sales business reached RMB26,124.4 million,representing an increase of 10.0%year-on-year.During the Reporting Period,by adopting a refined consumer-centric operational approach,the Group further expanded collaborations with different manufacturers in the industry to broaden its business

44、 and products so as to meet the diversified needs of consumers.The number of AAUs and average revenue per user(“ARPU”)of direct online stores continued to grow,with SKUs increasing by 33.6%year-on-year to 1.23 million.During the Reporting Period,the Group further integrated and optimized its pharmac

45、eutical logistics network with a focus on improving overall logistics experience.While maintaining a consistently high next-day delivery rate for medications,next-day delivery services were progressively expanded to cover 13 cities,including Guangzhou,Ningbo,Jinhua,Jiaxing,Shaoxing,Huzhou,Taizhou an

46、d Wenzhou.Healthcare and Digital Services BusinessDuring the Reporting Period,the Group continued to enhance users experience of the professional healthcare services by providing its users with a seamless online-to-offline system of healthcare services(including TCM,medical checkups,medical consulta

47、tion,appointment-booking,vaccination,dental care,mental care,optometry and nursing)through a variety of channels such as Tmall,Taobao,Alipay,AMap,DingTalk,Freshippo and Quark.As at March 31,2025,the total number of licensed physicians,pharmacists and nutritionists who contracted with the Group to pr

48、ovide online health consultation services continued to grow and reached nearly 240,000.6 Healthcare ServicesDuring the Reporting Period,the Group continued to expand the application and implementation of discipline-specific digital intelligent solutions in its internet hospital business,extending fr

49、om oncology and autoimmune specialties to additional disciplines including neurosurgery,orthopaedics,psychiatry and gynaecology.The enhanced digital capabilities enable doctors to refine patient management and deliver more efficient patient education.During the Reporting Period,the business of Xiaol

50、u TCM continued to grow steadily.As at March 31,2025,the number of Xiaolu TCM registered TCM practitioners increased to 140,000,and the number of dispensing centers increased to 137,reflecting significant improvement in both the service coverage and quality standard.During the Reporting Period,Xiaol

51、u TCM launched an AI-assisted diagnosis system,which is Alibaba Cloud Bailian(阿里雲百煉)platform and fully integrated with the DEEPSEEK reasoning large model.Based on the analysis of millions of clinical case data,the system significantly improves efficiency in scenarios such as doctor-assisted consulta

52、tions.Digital Tracking BusinessThe“Ma Shang Fang Xin”(碼上放心)tracking platform business continued to maintain efficient and healthy growth.On March 19,2025,the National Healthcare Security Administration,the Ministry of Human Resources and Social Security,the National Health Commission and the Nationa

53、l Medical Products Administration jointly issued the“Notice on Strengthening the Collection and Application of Drug Tracking Codes in Healthcare Security and Work Injury Insurance”(關於加強藥品追溯碼在醫療保障和工傷保險領域採集應用的通知),which mandates the use of drug tracking codes to track drugs throughout the whole process

54、 covering production,distribution and usage.It also promotes the comprehensive collection and application of drug tracking codes in healthcare security and work injury insurance,ultimately enabling the tracking codes to be fully collected in medical institutions.Proactively responding to these polic

55、y incentives,the“Ma Shang Fang Xin”platform has further promoted the coverage of the entire value chain from drug production,distribution,retail-end pharmacies and healthcare institutions.In terms of innovation,through“Ma Shang Fang Xin”platform,the Group also launched a“Digital Compliance for Drug

56、Distribution”service,which enables the automated despatch of drug inspection reports through routine drug tracking code scanning.This service enhances efficiency in the traceability process while promoting environmental protection.To date,over 1,500 drug manufacturers and authorized marketing provid

57、ers,along with more than 7,100 distribution companies,have adopted the service,and this service has cumulatively issued over 8.5 million digital drug inspection reports.By virtue of its“one object,one code”capability,the“Ma Shang Fang Xin”platform will continue to collaborate with enterprises to exp

58、lore digital applications of tracking codes in drug distribution.7 By applying large language models to provide healthcare services,the Group achieved end-to-end AI integration across its pharmaceutical e-commerce business,including traffic acquisition,supply chain management,and service delivery.Le

59、veraging upgraded AI capabilities,the Group has further enhanced operational efficiency in multiple areas,including optimized search and recommendation models for pharmaceuticals,smart pharmacy supply chain systems,intelligent product operations,and smart customer services.These advancements have no

60、t only driven growth in GMV but also enabled it to meet users demands for faster and more efficient services.Looking ahead,the Group will continue to explore the application of large language models in the healthcare service segment,aiming to further improve efficiency and process quality across the

61、 healthcare field.Public ServiceDuring the Reporting Period,the Group was committed to fulfilling its corporate social responsibility.With a continued focus on the availability of healthcare services to vulnerable groups such as the children,the elderly and the residents in remote areas,it is dedica

62、ted to addressing the uneven distribution of medical resources and other social and livelihood issues.As at March 31,2025,the“Care Campaign for Babies with Methylmalonic Acidemias”ensured the accessibility of special medical nutrition food to children with rare diseases across 31 provinces,autonomou

63、s regions and municipalities nationwide,providing assistance such as special medical milk powder,medical expense support and MDT consultation services for children with 17 types of genetic metabolic rare diseases,including babies with Methylmalonic Acidemias.Alibaba Health,in collaboration with Sono

64、va,China Association of Gerontology and Geriatrics and China Ageing Development Foundation,launched the“Hearing Aid Campaign 2024”public service,providing free hearing screening services to 5,011 senior citizens in 25 communities across the country through self-screening,free consultation,and door-t

65、o-door testing and other activities.By combining convenient hearing self-screening with offline free consultation by professional audiologists,it facilitated the elderly better understand their hearing loss levels,raised awareness among the elderly about hearing loss and promoted public attention to

66、 elderly hearing health.Tmall Health launched the“Physical Examination for the Visually Impaired”public service,providing customized physical examination services to 500 visually impaired individuals in over 10 cities,with dedicated quick access to“physical examination for the visually impaired”and

67、improved examination packages tailored for the visually impaired community.Future ProspectsAs the industrys leading digital health management company and the flagship platform of Alibaba Group in the healthcare sector,Alibaba Health always takes user value as the starting point.By deeply integrating

68、 AI technology with full-chain healthcare and pharmaceutical service capabilities,it continues to actively build an intelligent healthcare ecosystem that synergizes online and offline services,so as to provide affordable,convenient,efficient and reliable medical and healthcare services to hundreds o

69、f millions of families.8 FINANCIAL REVIEWThe key financial data of the Group for the years ended March 31,2025 and 2024 is summarized as follows:20252024ChangeRMB000RMB000%Revenue30,598,29227,026,55513.2Gross profit7,432,0915,895,32126.1Gross profit margin24.3%21.8%N/AFulfilment(2,567,707)(2,413,212

70、)6.4Selling and marketing expenses(2,258,374)(1,776,564)27.1Administrative expenses(407,432)(359,980)13.2Product development expenses(720,053)(705,382)2.1Other income and gains663,236674,755(1.7)Other expenses and losses(514,521)(363,644)41.5Finance costs(2,609)(5,969)(56.3)Share of profits/(losses)

71、of a joint venture(19,136)1,039N/AShare of losses of associates(45,527)(6,965)553.7Income tax expense(127,954)(56,263)127.4Profit for the year1,432,014883,13662.2NON-HKFRS ADJUSTMENTSAdjusted net profit1,949,6731,437,92835.6 RevenueRevenue of the Group for the Reporting Period amounted to RMB30,598,

72、292,000,representing an increase of RMB3,517,737,000 or 13.2%as compared with RMB27,026,555,000 for the Corresponding Period.The increase in revenue was mainly attributable to the steady development of the pharmaceutical direct sales business and pharmaceutical e-commerce platform business during th

73、e Reporting Period.Pharmaceutical Direct Sales BusinessThe pharmaceutical direct sales business of the Group primarily comprises the direct business-to-customer(“B2C”)retail,related advertising business and the business-to-business(“B2B”)centralized procurement and distribution business.During the R

74、eporting Period,the overall revenue from pharmaceutical direct sales business reached RMB26,124,420,000,representing an increase of 10.0%year-on-year.The growth in revenue from the pharmaceutical direct sales business was mainly attributable to the constant enrichment of categories of goods sold thr

75、ough the direct B2C retail and SKUs,as well as the continuous optimization of user experience by adopting a number of measures,such as improving information security and providing more professional consultation services.9 Pharmaceutical E-commerce Platform BusinessThe pharmaceutical e-commerce platf

76、orm business of the Group comprises(i)the e-commerce platform business acquired from Alibaba Group(including categories of,among others,pharmaceutical products,healthcare food,medical devices,adult and family planning products and contact lenses);(ii)the provision of outsourced services to Tmall Hea

77、lthcare Platform(in respect of categories other than those that have already been acquired)and(iii)new pharmaceutical retail business.At the same time,the integration of its marketing review services and value-added services has established a complete solution loop of health brand merchant solutions

78、,further enhancing the operational completeness of platform model.During the Reporting Period,total revenue of the pharmaceutical e-commerce platform business amounted to RMB3,588,499,000,representing an increase of 54.0%year-on-year.Healthcare and Digital Services BusinessDuring the Reporting Perio

79、d,the Group continued to enhance user experience of professional healthcare services by providing its users with a seamless online-to-offline healthcare service(including TCM,medical checkups,testing,medical consultation and appointment-booking)through a variety of channels such as Tmall,Taobao and

80、Alipay.Digital services business includes tracking business.“Ma Shang Fang Xin”(碼上放心),the Groups proprietary tracking platform,continued to grow steadily,by offering more value-added services with further penetration into the area of distribution and increasing the coverage of retail terminals.Durin

81、g the Reporting Period,the Group streamlined some of its innovative businesses,and therefore the revenue generated from the healthcare and digital services business decreased by 7.6%year-on-year to RMB885,373,000.Gross profit and gross profit marginThe Group recorded a gross profit of RMB7,432,091,0

82、00 for the Reporting Period,representing an increase of RMB1,536,770,000 or 26.1%from RMB5,895,321,000 for the Corresponding Period.Gross profit margin for the Reporting Period was 24.3%,representing an increase of 2.5 percentage points from 21.8%for the Corresponding Period.This was mainly attribut

83、able to the Groups penetration in the areas of operation refinement and digital upgrades during the Reporting Period,resulting in an optimization in operating efficiency and an improvement in pricing capabilities.10 FulfillmentWarehousing,logistics,operation and customer service costs incurred by th

84、e Groups pharmaceutical direct sales business were included in fulfillment costs.Fulfillment expenses for the Reporting Period amounted to RMB2,567,707,000,representing an increase of RMB154,495,000 or 6.4%from RMB2,413,212,000 for the Corresponding Period.During the Reporting Period,fulfillment cos

85、ts as a proportion of the revenue generated from pharmaceutical direct sales business decreased by approximately 0.4 percentage points to 9.8%,as compared with 10.2%for the Corresponding Period,reflecting higher operational efficiencies achieved by the Group in areas such as warehousing,logistics an

86、d customer service.Selling and marketing expensesSelling and marketing expenses for the Reporting Period amounted to RMB2,258,374,000,representing an increase of RMB481,810,000 or 27.1%compared with RMB1,776,564,000 for the Corresponding Period.The selling and marketing expenses as a proportion of t

87、he Groups total revenue for the Reporting Period increased to 7.4%from 6.6%as compared with the Corresponding Period.Administrative expensesAdministrative expenses for the Reporting Period amounted to RMB407,432,000,representing an increase of RMB47,452,000 or 13.2%as compared with RMB359,980,000 fo

88、r the Corresponding Period.The administrative expenses as a proportion of the Groups total revenue remained relatively stable at 1.3%as compared with the Corresponding Period.Product development expensesProduct development expenses for the Reporting Period amounted to RMB720,053,000,representing an

89、increase of RMB14,671,000 or 2.1%as compared with RMB705,382,000 for the Corresponding Period.The product development expenses as a proportion of the Groups total revenue for the Reporting Period decreased to 2.4%from 2.6%as recorded for the Corresponding Period,which was mainly due to optimization

90、of cost controls and research and development strategies during the Reporting Period.Other income and gainsOther income and gains for the Reporting Period amounted to RMB663,236,000,which primarily comprised interest income,change in fair value of financial assets at FVPL,and gain on disposal of inv

91、estments incurred during the year.The decrease from RMB674,755,000 for the Corresponding Period was mainly due to the decrease in interest income received during the Reporting Period.11 Other expenses and lossesOther expenses and losses for the Reporting Period amounted to RMB514,521,000,which prima

92、rily comprised exchange gain or loss and impairment of associates.The increase from RMB363,644,000 for the Corresponding Period was mainly due to losses arising from impairment of associates for the Reporting Period.Share of profits or losses of a joint ventureShare of profits or losses of a joint v

93、enture represents the share of net operating results of the joint venture held as to 13.72%by the Group,Jiangsu Zijin Hongyun Health Industry Investment Partnership(Limited Partnership)(江蘇紫金弘雲健康產業投資合夥企業（有限合夥）).For the Reporting Period,the Groups share of losses of a joint venture was RMB19,136,000,a

94、s compared with a profit of RMB1,039,000 for the Corresponding Period.Share of losses of associatesThe Group actively invests in the healthcare segment.The Groups share of losses of associates for the Reporting Period amounted to RMB45,527,000,representing a increase of RMB38,562,000 as compared wit

95、h the losses of RMB6,965,000 recorded for the Corresponding Period.Share of losses of associates for the year was mainly attributable to the fact that some associates were still at the transformation or growing stage.Non-Hong Kong Financial Reporting Standards indicator in relation to profit for the

96、 year:Adjusted net profitThe Groups profit for the Reporting Period amounted to RMB1,432,014,000,as compared with a profit of RMB883,136,000 for the Corresponding Period.The Groups adjusted net profit for the Reporting Period amounted to RMB1,949,673,000,as compared with an adjusted net profit of RM

97、B1,437,928,000 for the Corresponding Period.Adjusted net profit is based on the profit for the corresponding period after excluding non-operating profit or loss items such as share-based compensation expenses,change in fair value of equity investments at FVPL,net of tax,gain on deemed disposal of in

98、vestments in associates,net of tax,gain or loss on partial disposal of associates,net of tax and impairment of investments in associates,net of tax.The increase of RMB511,745,000 in the adjusted net profit for the Reporting Period as compared with the previous financial year was mainly attributable

99、to the continuous growth in the number of users on pharmaceutical direct sales business platforms,the operation refinement of the Groups business which has improved its bargaining and pricing capabilities and enhanced its operational efficiency,and the improvement in efficiency and cost sharing driv

100、en by the economies of scale on the platform.12 To supplement the Groups consolidated financial statements presented in accordance with Hong Kong Financial Reporting Standards(“HKFRSs”),the Group has also reported its adjusted net profit,which is not required under,or presented in accordance with,HK

101、FRSs,as an additional financial indicator.The Group believes that presenting the non-HKFRS indicator together with the relevant HKFRS indicator will facilitate investors to compare its operational performance across various periods by removing the potential impact of items which its management consi

102、ders as not indicative of its operational performance.The Group believes that the non-HKFRS indicator provides investors and others with helpful information to understand and assess its consolidated operational results in the same way as its management does.However,the presentation of adjusted net p

103、rofit may not be comparable with similar indicators presented by other companies.Such non-HKFRS indicator has its limitations as an analytical tool,and it should not be considered as independent of the operational results or financial position presented under HKFRSs,or as a substitute for analyzing

104、the relevant operational results or financial position.In addition,the definition of such non-HKFRS indicator may differ from the definitions of similar indicators used by other companies.The table below provides the adjustments made to the most direct and comparable financial indicator calculated a

105、nd presented in accordance with HKFRSs(i.e.profit for the year)in arriving at the adjusted net profit(a non-HKFRS measure)for the years ended March 31,2025 and 2024:For the year ended March 31,20252024RMB000RMB000Profit for the year1,432,014883,136Excluding Share-based compensation expenses224,53526

106、6,059 Fair value losses/(gain)on equity investments at FVPL,net of tax(42,847)341,588 Gain on deemed disposal of associates,net of tax(1,969)(18,066)Loss/(gain)on partial disposal of associates,net of tax10,209(34,789)impairment of investments in associates,net of tax327,731Adjusted net profit(non-H

107、KFRS measure)1,949,6731,437,928 13 FINANCIAL RESOURCES,LIQUIDITY AND FOREIGN EXCHANGE EXPOSURESFor the Reporting Period,the Group met its cash requirements primarily through cash generated from operating activities.The Groups cash and cash equivalents as stated in the statement of cash flows and cas

108、h and bank deposits as stated in the statement of financial position mainly comprise cash on hand and at banks and highly liquid time deposits with a maturity of generally within three months when acquired.As at March 31,2025 and March 31,2024,the Groups cash and cash equivalents amounted to RMB2,21

109、8,296,000 and RMB3,490,169,000,respectively.Cash flows of the Group for the years ended March 31,2025 and 2024 were as follows:For the year ended March 31,20252024RMB000RMB000Net cash flows generated from operating activities1,395,0331,079,832Net cash flows used in investing activities(2,596,482)(4,

110、880,900)Net cash flows used in financing activities(72,517)(1,982,395)Net decrease in cash and cash equivalents(1,273,966)(5,783,463)Cash and cash equivalents at the beginning of the year3,490,1699,236,850Effects of exchange rate changes2,09336,782Cash and cash equivalents as stated in the statement

111、 of cash flows and cash and bank deposits as stated in the statement of financial position at the end of the year2,218,2963,490,169Net cash flows generated from operating activitiesFor the Reporting Period,net cash flows generated from operating activities amounted to RMB1,395,033,000,primarily attr

112、ibutable to profit before income tax from continuing operations of RMB1,559,968,000,as adjusted by:(i)non-cash or non-operating activities expense items,which primarily comprised the addition of share-based compensation expenses of RMB224,535,000,the addition of depreciation and amortization of RMB5

113、7,605,000,the deduction of gains of financial assets at FVPL of RMB51,364,000,the deduction of bank and other interest income of RMB464,849,000,the addition of impairment of investments in associates of RMB410,020,000,and the addition of share of losses of associates and a joint venture of RMB64,663

114、,000;(ii)changes in working capital,which primarily comprised a decrease in trade and bills payables of RMB498,185,000,a decrease in prepayments,other receivables and other assets of RMB53,215,000,an increase in other payables and accruals of RMB142,898,000,an increase in contract liabilities of RMB

115、140,412,000,an increase in inventories of RMB107,880,000,and an increase in trade receivables of RMB273,594,000,an increase in restricted funds of RMB24,837,000,and a decrease in the payment of corporate income tax of RMB106,932,000;and(iii)the addition of receipt of interest of RMB146,727,000.14 Ne

116、t cash flows used in investing activitiesFor the Reporting Period,net cash used in investing activities amounted to RMB2,596,482,000,which was primarily attributable to(i)placement of time deposits with original maturity over three months when acquired of RMB9,449,576,000,(ii)the subscription of sho

117、rt-term structured wealth management products of RMB2,650,000,000,(iii)proceeds from maturity of short-term structured wealth management products of RMB2,394,125,000,(iv)proceeds from withdrawal of time deposits with a maturity over three months when acquired of RMB6,522,761,000,(v)proceeds from par

118、tial disposal of equity interests in associates of RMB256,809,000 and(vi)receipt of interest income of RMB311,789,000 during the Reporting Period.As at March 31,2025,each of such structured wealth management products and disposal of short-term structured wealth management products(both on a standalo

119、ne and an aggregated basis)has a value of less than 5%of all applicable percentage ratios of the Group and none of such products constituted a notifiable transaction of the Company.Net cash flows used in financing activitiesFor the Reporting Period,net cash flows used in financing activities was RMB

120、72,517,000,which was primarily attributable to the principal portion of lease payments of RMB38,094,000 and the payment of RMB39,931,000 for repurchase of shares of the Company by the trustee of the share award scheme of the Company during the Reporting Period.Gearing ratioAs at March 31,2025,the Gr

121、oup did not have any borrowings,and hence no gearing ratio was shown(March 31,2024:Nil).Charges on assets and contingent liabilitiesAs at March 31,2025,the Group did not have any material contingent liabilities and had not pledged any Group assets for bank loans and banking facilities.LiquidityThe G

122、roups operations and transactions are principally conducted in the PRC.The Group prudently managed its treasury functions and maintained a healthy liquidity position throughout the Reporting Period.The Board closely monitors the Groups liquidity position to ensure that the liquidity structure of our

123、 assets,liabilities and other commitments can meet the Groups funding requirements from time to time.15 Foreign exchange exposuresExcept for a certain amount of bank balances and cash,most of the Groups bank balances and cash are placed in fixed deposits and are denominated in Hong Kong dollars,Renm

124、inbi and United States dollars,while other assets and liabilities are mainly denominated in either Hong Kong dollars or Renminbi.The Group changed its presentation currency from Hong Kong dollars to Renminbi starting from the year ended March 31,2016 to better reflect its operations in the PRC and t

125、o be consistent with the internal reporting portfolio reviewed by the Directors.The Group does not have foreign exchange hedging policy,but the management will continue to closely monitor exchange rate fluctuations and will take appropriate measures to keep foreign exchange risk exposure to the mini

126、mum.The Group does not use any financial instruments for hedging purposes.EMPLOYEES AND REMUNERATION POLICIESThe number of full-time employees of the Group as at March 31,2025 was 1,364(March 31,2024:1,435).Total staff costs of the Group for the Reporting Period amounted to RMB1,067.9 million(for th

127、e Corresponding Period:RMB1,097.3 million).The Groups policy is to maintain a competitive pay structure and its employees are rewarded based on their performance.The Group also adopted the 2014 Share Award Scheme(the“2014 Share Award Scheme”)as approved by the shareholders of the Company(the“Shareho

128、lders”)on November 24,2014 and amended on August 11,2023.The Company further adopted the 2024 Share Award Scheme(the“2024 Share Award Scheme”)pursuant to Chapter 17 of the Listing Rules on August 30,2024,the terms of which are largely similar in material respects to the terms of the 2014 Share Award

129、 Scheme to ensure the consistent practice of share awards of the Group.Pursuant to the 2024 Share Award Scheme,the Board may grant awards in the form of restricted share units(“RSUs”)or options to eligible participants,including the Directors,the directors of the Companys subsidiaries,the employees

130、of the Group or any other persons who,as determined by the Board in its absolute discretion,have contributed or will contribute to the Group.Upon adoption of the 2024 Share Award Scheme,the 2014 Share Award Scheme was terminated in order to avoid administrative inconvenience.As such,upon adoption of

131、 the 2024 Share Award Scheme,no further share awards may be offered or granted under the 2014 Share Award Scheme,but in all other respects the terms of the 2014 Share Award Scheme shall remain in full force and effect.Further,the outstanding options and RSUs granted pursuant to the 2014 Share Award

132、Scheme,which remain unvested or which have vested but not yet been exercised or in respect of which shares not yet issued to the participants at the time of its termination,shall remain in full force and effect.16 SIGNIFICANT INVESTMENTS,MATERIAL ACQUISITIONS AND DISPOSALS OF SUBSIDIARIES,ASSOCIATES

133、 AND JOINT VENTURESThe Company has its own treasury policy setting out the selection guidelines and relevant approval procedures for acceptable short-term investments and financial assets with reference to its risk management policy.According to such treasury policy,the Company can invest in product

134、s including non-equity financial asset investments with strong liquidity which can be realized either at any time or within a short period of time.According to the Companys prevailing approval procedures,any investment decision related to financial assets shall be approved by the financial and treas

135、ury manager of the Company,and shall,depending on the size of the investment,be approved by the financial controller or chief financial officer.As at March 31,2025,the Companys short-term investment at FVPL amounted to approximately RMB263.6 million(balance as at March 31,2024:Nil).During the Report

136、ing Period,the Group did not have any significant investments nor did the Group carry out any material acquisition and disposal of subsidiaries,associates and joint ventures.DIVIDENDThe Board does not recommend the payment of a final dividend for the Reporting Period(for the Corresponding Period:Nil

137、).SIGNIFICANT EVENTS AFTER THE END OF THE REPORTING PERIODSave as disclosed in note 11 to the consolidated financial statements,there are no significant events of the Group subsequent to March 31,2025 and up to the date of this announcement.17 CONSOLIDATED STATEMENT OF PROFIT OR LOSSYear ended March

138、 31,202520252024NotesRMB000RMB000REVENUE430,598,29227,026,555Cost of sales(23,166,201)(21,131,234)Gross profit7,432,0915,895,321Other income and gains4663,236674,755Operating expensesFulfilment(2,567,707)(2,413,212)Selling and marketing expenses(2,258,374)(1,776,564)Administrative expenses(407,432)(

139、359,980)Product development expenses(720,053)(705,382)Other expenses and losses(514,521)(363,644)Finance costs(2,609)(5,969)Share of profits/(losses)of:A joint venture(19,136)1,039Associates(45,527)(6,965)PROFIT BEFORE TAX51,559,968939,399Income tax expense6(127,954)(56,263)PROFIT FOR THE YEAR1,432,

140、014883,136Attributable to:Owners of the parent1,432,427883,477Non-controlling interests(413)(341)1,432,014883,136EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE PARENT7BasicRMB8.91 centsRMB6.29 centsDilutedRMB8.88 centsRMB6.27 cents 18 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

141、Year ended March 31,202520252024RMB000RMB000PROFIT FOR THE YEAR1,432,014883,136OTHER COMPREHENSIVE INCOME/(LOSS)Other comprehensive income/(loss)that may be reclassified to profit or loss in subsequent periods:Exchange differences on translation of the financial statements of subsidiaries with non-R

142、MB functional currencies334(201,875)Other comprehensive income/(loss)that will not be reclassified to profit or loss in subsequent periods:Exchange differences on translation of the financial statements of the Company86,717477,059Changes in fair value of the equity investments at fair value through

143、other comprehensive income(21,737)(27,888)Associates:Share of other comprehensive loss(283)(406)Income tax effect71101(212)(305)Total other comprehensive income that will not be reclassified to profit or loss in subsequent periods,net of tax64,768448,866TOTAL OTHER COMPREHENSIVE INCOME FOR THE YEAR,

144、NET OF TAX65,102246,991TOTAL COMPREHENSIVE INCOME FOR THE YEAR1,497,1161,130,127Attributable to:Owners of the parent1,497,5291,130,468Non-controlling interests(413)(341)1,497,1161,130,127 19 CONSOLIDATED STATEMENT OF FINANCIAL POSITIONMarch 31,202520252024NotesRMB000RMB000NON-CURRENT ASSETSProperty

145、and equipment35,69335,576Right-of-use assets34,02768,091Goodwill810,853810,853Other intangible assets275,220292,069Investment in a joint venture208,966250,480Investments in associates1,521,0142,285,936Equity investments designated at fair value through other comprehensive income97,588101,659Financia

146、l assets at fair value through profit or loss1,622,1621,567,998Other receivables and other assets93,48031,568Deferred tax assets50,82154,870Long-term time deposits4,152,413694,000Total non-current assets8,902,2376,193,100CURRENT ASSETSInventories1,415,2201,399,738Trade and bills receivables91,052,52

147、3785,136Prepayments,other receivables and other assets1,389,3031,490,534Prepaid tax16,0485,313Financial assets at fair value through profit or loss263,621Restricted cash303,243278,406Short-term time deposits5,617,9266,062,941Cash and bank deposits2,218,2963,490,169Total current assets12,276,18013,51

148、2,237CURRENT LIABILITIESTrade and bills payables102,852,3813,350,566Other payables and accruals1,047,903997,143Contract liabilities695,095554,683Lease liabilities10,57934,194Tax payable136,21488,872Total current liabilities4,742,1725,025,458NET CURRENT ASSETS7,534,0088,486,779TOTAL ASSETS LESS CURRE

149、NT LIABILITIES16,436,24514,679,879 20 CONSOLIDATED STATEMENT OF FINANCIAL POSITION(CONTINUED)March 31,202520252024RMB000RMB000NON-CURRENT LIABILITIESLease liabilities24,93647,976Deferred tax liabilities98,149114,299Total non-current liabilities123,085162,275Net assets16,313,16014,517,604EQUITYEquity

150、 attributable to owners of the parentShare capital142,790142,780Treasury shares(52,600)(101,946)Reserves16,221,98914,503,37816,312,17914,544,212Non-controlling interests981(26,608)Total equity16,313,16014,517,604 21 NOTES TO FINANCIAL STATEMENTS March 31,20251.BASIS OF PREPARATIONThese consolidated

151、financial statements have been prepared in accordance with HKFRS Accounting Standards(which include all Hong Kong Financial Reporting Standards,Hong Kong Accounting Standards(“HKASs”)and Interpretations)as issued by the Hong Kong Institute of Certified Public Accountants(“HKICPA”)and the disclosure

152、requirements of the Hong Kong Companies Ordinance.They have been prepared under the historical cost convention,except for financial investments at fair value through profit or loss(“FVPL”)and equity investments designated at fair value through other comprehensive income(“FVOCI”),which have been meas

153、ured at fair value.These financial statements are presented in Renminbi(“RMB”)and all values are rounded to the nearest thousand except when otherwise indicated.2.CHANGES IN ACCOUNTING POLICIES AND DISCLOSURESThe Group has adopted the following revised HKFRS Accounting Standards for the first time f

154、or the current years financial statements.Amendments to HKFRS 16Lease Liability in a Sale and LeasebackAmendments to HKAS 1Classification of Liabilities as Current or Non-current (the“2020 Amendments”)Amendments to HKAS 1Non-current Liabilities with Covenants (the“2022 Amendments”)Amendments to HKAS

155、 7 and HKFRS 7Supplier Finance ArrangementsThe nature and the impact of the revised HKFRS Accounting Standards are described below:(a)Amendments to HKFRS 16 specify the requirements that a seller-lessee uses in measuring the lease liability arising in a sale and leaseback transaction to ensure the s

156、eller-lessee does not recognize any amount of the gain or loss that relates to the right of use it retains.Since the Group has no sale and leaseback transactions with variable lease payments that do not depend on an index or a rate occurring from the date of initial application of HKFRS 16,the amend

157、ments did not have any impact on the financial position or performance of the Group.22 2.CHANGES IN ACCOUNTING POLICIES AND DISCLOSURES(CONTINUED)(b)The 2020 Amendments clarify the requirements for classifying liabilities as current or non-current,including what is meant by a right to defer settleme

158、nt and that a right to defer must exist at the end of the reporting period.Classification of a liability is unaffected by the likelihood that the entity will exercise its right to defer settlement.The amendments also clarify that a liability can be settled in its own equity instruments,and that only

159、 if a conversion option in a convertible liability is itself accounted for as an equity instrument would the terms of a liability not impact its classification.The 2022 Amendments further clarify that,among covenants of a liability arising from a loan arrangement,only those with which an entity must

160、 comply on or before the reporting date affect the classification of that liability as current or non-current.Additional disclosures are required for non-current liabilities that are subject to the entity complying with future covenants within 12 months after the reporting period.The Group has reass

161、essed the terms and conditions of its liabilities as at April 1,2023 and 2024 and concluded that the classification of its liabilities as current or non-current remained unchanged upon initial application of the amendments.Accordingly,the amendments did not have any impact on the financial position

162、or performance of the Group.(c)Amendments to HKAS 7 and HKFRS 7 clarify the characteristics of supplier finance arrangements and require additional disclosure of such arrangements.The disclosure requirements in the amendments are intended to assist users of financial statements in understanding the

163、effects of supplier finance arrangements on an entitys liabilities,cash flows and exposure to liquidity risk.As the Group does not have supplier finance arrangements,the amendments did not have any impact on the Groups financial statements.3.OPERATING SEGMENT INFORMATIONThe Group is primarily engage

164、d in the pharmaceutical direct sales business,pharmaceutical e-commerce platform business and healthcare and digital services business.Given that the chief operating decision maker of the Company considers that the Groups business is operated and managed as a single segment of distribution and devel

165、opment of pharmaceutical and healthcare business,no further segment information is presented.Geographical informationDuring the year ended March 31,2025,all(2024:all)of the Groups revenue from external customers and over 99%(2024:over 99%)non-current assets other than financial instruments and defer

166、red tax assets as at March 31,2025 attributed to Mainland China as determined based on the locations of customers and assets,respectively.Information about a major customerDuring the year ended March 31,2025,there was no revenue derived from transactions with a single external customer which amounte

167、d to 10%or more of the Groups revenue(2024:Nil).23 4.REVENUE,OTHER INCOME AND GAINSAn analysis of revenue from contracts with customers is as follows:20252024RMB000RMB000Pharmaceutical direct sales business26,124,42023,739,246Pharmaceutical e-commerce platform business3,588,4992,329,471Healthcare an

168、d digital services business885,373957,838Total30,598,29227,026,555(i)Disaggregated revenue information20252024RMB000RMB000Types of goods or services:Sale of products24,058,73222,561,428Provision of services6,539,5604,465,127Total30,598,29227,026,555Timing of revenue recognition:At a point in time26,

169、190,52324,784,573Over time4,407,7692,241,982Total30,598,29227,026,555 24 4.REVENUE,OTHER INCOME AND GAINS(CONTINUED)(i)Disaggregated revenue information(Continued)The following table shows the amounts of revenue recognized in the reporting period that were included in the contract liabilities at the

170、 beginning of the reporting period:20252024RMB000RMB000Sale of products154,8754,078Provision of services399,808490,988Total554,683495,066(ii)Performance obligationsInformation about the Groups performance obligations is summarized below:Sale of productsThe performance obligation is satisfied upon de

171、livery of the pharmaceutical and healthcare products.For B2C pharmacy sales,payment is received from the payment platform,i.e.A Co.,Ltd.(支付寶（中國）網絡技術有限公司)(“Alipay”),when the receipt of goods is confirmed by customers or by the payment platform automatically within a pre-specified period of time after

172、 delivery.For B2B pharmacy sales,payment is generally due within 30 to 90 days,except for new customers,where payment in advance is normally required.Some contracts provide customers with a right of return which gives rise to variable consideration subject to constraint.Provision of servicesThe perf

173、ormance obligation is satisfied over time or at a point in time as marketing services,outsourced and value-added services,E-commerce platform services,healthcare and digital services,and marketing materials review and value-added services are rendered.Payment is generally received upon the completio

174、n of the underlying transactions,prior to the provision of services on a full prepayment basis,or due within 30 to 90 days.The Group has elected the practical expedient for not to disclose the remaining performance obligations because the performance obligations are part of contracts with original e

175、xpected duration of one year or less(2024:one year or less)or the Group has a right to consideration from the customer in an amount that corresponds directly with the value to the customer of the Groups performance completed to date.25 4.REVENUE,OTHER INCOME AND GAINS(CONTINUED)20252024RMB000RMB000O

176、ther incomeBank interest income464,654477,266Other interest income195764Investment income from financial assets at fair value through profit or loss4,1256,028Dividend income from financial assets at fair value through profit or loss19,60024,500Management fee income from a joint venture12,19310,669Go

177、vernment grants#103,74577,220Others5,0864,283Total other income609,598600,730GainsFair value gains on financial assets at fair value through profit or loss51,364Gain on partial disposal of an associate48,337Gain on deemed disposal of associates1,63318,066Gain on disposal of a joint venture10Foreign

178、exchange differences,net7,086Gain on disposal of property and equipment641526Total gains53,63874,025Total other income and gains663,236674,755#Government grants mainly represented incentives received for investments in certain regions in Mainland China in which the Companys subsidiaries operate as w

179、ell as tax-related benefits.There are no unfulfilled conditions or contingencies relating to these government grants.26 5.PROFIT BEFORE TAXThe Groups profit before tax is arrived at after charging/(crediting):20252024RMB000RMB000Cost of goods sold*20,726,22218,974,776Cost of services provided*(exclu

180、ding employee benefit expense)2,285,4402,026,106Depreciation of property and equipment15,2956,929Depreciation of right-of-use assets25,47129,796Amortization of intangible assets16,83916,957Fair value loss on contingent consideration included in other payables and accruals*8,457Fair value losses on f

181、inancial assets at fair value through profit or loss*349,854Loss on partial disposal of associates*42,423Loss on disposal of intangible assets*22Foreign exchange differences,net*37,143Impairment of investments in associates*410,020Provision of inventories*92,39888,478Lease payments not included in t

182、he measurement of lease liabilities2,1311,652Impairment/(reversal of impairment)of financial assets,net*:Impairment of trade receivables6,2075,143Impairment of financial assets included in prepayments,other receivables and other assets11,174Reversal of impairment of a loan to a joint venture(2,500)T

183、otal17,3812,643Loss on revision of lease terms arising from changes in the non-cancellable periods of leases*32732Auditors remuneration4,2304,130Employee benefit expense(including directors and chief executives remuneration):Wages,salaries and social welfare benefits565,932609,566Discretionary perfo

184、rmance related bonuses222,249166,564Share-based compensation expense224,535266,059Pension scheme contributions#55,17955,069Total1,067,8951,097,258*These items are included in“Cost of sales”in the consolidated statement of profit or loss.*These items are included in“Other expenses and losses”in the c

185、onsolidated statement of profit or loss.#There are no forfeited contributions that may be used by the Group as the employer to reduce the existing level of contributions.27 6.INCOME TAX20252024RMB000RMB000Current Hong KongCharge for the year8,461Overprovision in prior years(6)(5)Current Mainland Chi

186、naCharge for the year130,07484,648Deferred(10,575)(28,380)Total tax charge for the year127,95456,263Hong Kong profits tax has been provided at the rate of 16.5%on the estimated assessable profits arising in Hong Kong during the year ended March 31,2025.No provision for Hong Kong profits tax had been

187、 made as the Group did not generate any assessable profits arising in Hong Kong during the year ended March 31,2024.In Mainland China,the companies are subject to the PRC corporate income tax rate of 25%,except for two(2024:two)PRC subsidiaries which are entitled to a preferential tax rate of 15%(20

188、24:15%)because they are regarded as High and New Technology Enterprises and one(2024:Nil)PRC subsidiary which is entitled to a preferential tax rate of 15%because it operates in Hainan Free Trade Port and meets the preferential tax treatment requirements.No tax attributable to the joint venture was

189、included in“Share of profit or loss of a joint venture”in the consolidated statement of profit or loss(2024:Nil).The share of tax charge attributable to associates of approximately RMB949,000(2024:RMB6,342,000)is included in“Share of profits or losses of associates”in the consolidated statement of p

190、rofit or loss.28 7.EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE PARENTThe calculation of the basic earnings per share amounts is based on the profit for the year attributable to ordinary equity holders of the parent of RMB1,432,427,000(2024:RMB883,477,000),and the weighted avera

191、ge number of ordinary shares of 16,070,669,722 outstanding during the year(2024:14,044,082,144).The calculation of the diluted earnings per share amounts is based on the profit for the year attributable to ordinary equity holders of the parent.The weighted average number of ordinary shares used in t

192、he calculation is the number of ordinary shares outstanding during the year,as used in the basic earnings per share calculation,and the weighted average number of ordinary shares assumed to have been issued at no consideration on the deemed exercise of all dilutive potential ordinary shares into ord

193、inary shares.The calculations of basic and diluted earnings per share are based on:20252024RMB000RMB000EarningsProfit attributable to ordinary equity holders of the parent,used in the basic earnings per share calculation1,432,427883,477Number of shares20252024SharesWeighted average number of ordinar

194、y shares outstanding during the year used in the basic earnings per share calculation16,070,669,72214,044,082,144Effect of dilution weighted average number of ordinary shares:Share options1,696327,131Restricted share units65,132,48646,283,396Total16,135,803,90414,090,692,6718.DIVIDENDSThe board does

195、 not recommend the payment of dividend for the year ended March 31,2025(2024:Nil).29 9.TRADE AND BILLS RECEIVABLES20252024RMB000RMB000Trade receivables1,083,331815,780Impairment(36,255)(33,687)Net carrying amount1,047,076782,093Bills receivable5,4473,043Total trade and bills receivables1,052,523785,

196、136The Groups trading terms with some of its customers are on credit.The Group provides a credit period of 30 to 90 days.Trade receivables are settled in accordance with the terms of the respective contracts.The Group seeks to maintain strict control over its outstanding receivables.Overdue balances

197、 are reviewed regularly by senior management.In view of the aforementioned and the fact that the Groups trade receivables relate to a large number of diversified customers,there is no significant concentration of credit risk.The Group does not hold any collateral or other credit enhancements over it

198、s trade receivable balances.Trade receivables are non-interest-bearing.Included in the Groups trade receivables are amounts due from subsidiaries of Alibaba Group(excluding the Group)of approximately RMB502,821,000(2024:RMB323,776,000)and the Groups associates of approximately RMB194,000(2024:RMB189

199、,000),which are repayable on credit terms mutually agreed by the parties involved.An ageing analysis of the trade receivables as at the end of the reporting period,based on the date of products delivered to B2C customers or received by B2B customers,or services rendered to customers and net of impai

200、rment,is as follows:20252024RMB000RMB000Within 3 months936,079694,7824th to 12th month96,63681,010Over 1 year14,3616,301Total1,047,076782,093At March 31,2025,the Groups bills receivable would be mature within 6 months(2024:3 months).30 9.TRADE AND BILLS RECEIVABLES(CONTINUED)The movements in the los

201、s allowance for impairment of trade receivables are as follows:20252024RMB000RMB000At April 133,68728,544Impairment(note 5)6,2075,143Amount written off as uncollectible(3,639)At March 3136,25533,68710.TRADE AND BILLS PAYABLESAn ageing analysis of the trade and bills payables as at the end of the rep

202、orting period,based on the date of products and services received by the Group or the date of bill issuance,is as follows:20252024RMB000RMB000Within 3 months2,671,2562,779,1514th to 12th month147,870489,845Over 1 year33,25581,570Total2,852,3813,350,566The trade payables are non-interest-bearing and

203、are normally settled on terms of 30 to 90 days.Included in the Groups trade payables are amounts due to subsidiaries of Alibaba Group(excluding the Group)of approximately RMB495,487,000(2024:RMB907,537,000),which are repayable on credit terms mutually agreed by the parties involved.11.EVENTS AFTER T

204、HE REPORTING PERIODDuring the period between April 1 and May 19,2025,the subscription rights attaching to 718,312 share options were exercised at the subscription price ranging between HK$4.24 and HK$4.92 per share,resulting in the issue of 718,312 shares of the Company for a total cash consideratio

205、n,before expenses,of RMB2,927,000.31 COMPLIANCE WITH THE CORPORATE GOVERNANCE CODEThe Company strives to attain and maintain high standards of corporate governance continuously as it believes that effective corporate governance practices are fundamental to safeguarding the interests of its sharehold

206、ers and other stakeholders,and to enhancing shareholder value.It has adopted the Corporate Governance Code as set out in Appendix C1 to the Listing Rules.In the opinion of the Board,throughout the Reporting Period,the Company has complied with the code provisions(“Code Provision(s)”)set out in the C

207、orporate Governance Code under Appendix C1 to the Listing Rules,except in respect of the following matter:Code Provision D.1.2 stipulates that management should provide all members of the Board with monthly updates giving a balanced and understandable assessment of the Companys performance,position

208、and prospects in sufficient details to enable the Board as a whole and each Director to discharge their duties under Rule 3.08 and Chapter 13 of the Listing Rules.The Company from time to time,based on business needs and conditions,provides to the Board up-to-date business information and convenes a

209、d hoc meetings for considering material business or management issues,so as to enable the Directors and the Board as a whole to discharge their duties.MODEL CODE FOR SECURITIES TRANSACTIONSThe Company has adopted its own code for securities transactions by the(i)Directors;and(ii)certain officers and

210、 employees of the Company or its subsidiaries that are considered to be likely in possession of unpublished inside information in relation to the Company or its securities,on terms not less exacting than those in the Model Code for Securities Transactions by Directors of Listed Issuers(the“Model Cod

211、e”)as set out in Appendix C3 to the Listing Rules.In response to specific enquiries made by the Company to all Directors,all Directors have confirmed that they have complied with the Model Code and the Companys code for securities transactions throughout the Reporting Period.PURCHASE,REDEMPTION OR S

212、ALE OF LISTED SECURITIES OF THE COMPANYDuring the Reporting Period,neither the Company nor any of its subsidiaries purchased,redeemed or sold any of the Companys listed securities(including any sale of treasury shares),except that in April and November 2024,a trustee of the 2014 Share Award Scheme p

213、urchased a total of 12,697,000 ordinary shares of the Company on the market for a total consideration of approximately HK$43,693,000(equivalent to approximately RMB39,931,000),to satisfy the share awards granted under the 2014 Share Award Scheme to the employees of the Company upon vesting.32 As at

214、March 31,2025,there were no treasury shares held by the Company.AUDIT COMMITTEE REVIEWThe Groups annual results for the Reporting Period have been reviewed by the Audit Committee.The Audit Committee has also discussed auditing,internal control and financial reporting matters including the review of

215、accounting practices and principles adopted by the Group.SCOPE OF WORK OF ERNST&YOUNG ON THE PRELIMINARY RESULTS ANNOUNCEMENTThe figures in respect of the Groups consolidated statement of financial position,consolidated statement of profit or loss,consolidated statement of comprehensive income and t

216、he related notes thereto for the Reporting Period as set out in this preliminary results announcement have been agreed by the Groups auditors,Ernst&Young,to the amounts set out in the Groups consolidated financial statements for the Reporting Period.The work performed by Ernst&Young in this respect

217、did not constitute an assurance engagement in accordance with Hong Kong Standards on Auditing,Hong Kong Standards on Review Engagements or Hong Kong Standards on Assurance Engagements issued by the HKICPA and consequently no assurance has been expressed by Ernst&Young on the preliminary results anno

218、uncement.PUBLICATION OF PRELIMINARY RESULTS ANNOUNCEMENT AND ANNUAL REPORTThis announcement is published on the websites of the Stock Exchange(www.hkexnews.hk)and the Company( annual report for the Reporting Period containing the information as required by Appendix D2 to the Listing Rules will be di

219、spatched to the Shareholders and available on the above websites in due course.For and on behalf of the BoardAlibaba Health Information Technology LimitedShen DifanChief Executive Officer and Executive DirectorHong Kong,May 19,2025As at the date of this announcement,the Board comprises Mr.Shen Difan and Mr.Tu Yanwu as the executive Directors;Mr.Zhu Shunyan,Ms.Huang Jiaojiao and Mr.Xu Haipeng as the non-executive Directors;and Ms.Huang Yi Fei(Vanessa),Dr.Shao Rong and Ms.Wu May Yihong as the independent non-executive Directors.For identification purposes only