On May 14th, Alibaba released its Q4 and full year financial reports for the 2024 fiscal year. After a year of proactive transformation, Alibaba has returned to a healthy growth track and shown a positive development momentum towards the future.
According to the financial report, the scale of non core business revenue classified as "other" reached RMB 51.458 billion and RMB 192.331 billion respectively in Q4 and the entire fiscal year ended March 31, 2024, with Hema's revenue continuing to grow.
Data shows that from January this year to present, Hema Fresh has opened about 10 new stores in multiple cities across the country. Four new stores opened in April. Previously, Hema stated that it will intensify its layout in the Yangtze River Delta region this year, and has recently entered cities such as Qidong and Changshu in Jiangsu. It is understood that the number of Hema Fresh stores nationwide is expected to exceed 400 within this year.