2013

Short Term Sources

Short-term investments 4.7%

Current bank borrowings 3.7%

Secured borrowings 3.8%
Escrow money payable 1.8%
Accrued expenses, accounts payable
and other liabilities 7.8%

Merchant deposits 4.2%

Deferred revenue and customer advances 1.0%
27.10%

Short Term Uses

Cash and cash equivalents 24.5%
Restricted cash and escrow receivables 0.7%
Loan receivables, net 7.0%
Investment securities 0.1%
Prepayments, receivables and other assets 0.1%
Income tax payable 0.2%
32.60%
 Long Term Sources
Investment in equity investees 0.2%
Intangible assets 0.04%
Goodwill 0.3%
Deferred tax liabilities 0.4%
Redeemable preference shares 9.4%

Non-current bank borrowings 40.7%

Convertible Preference Shares, US$0.000025 par value;
2,600,000 shares authorized; 1,688,000 and nil shares issued and
outstanding as of March 31, 2014 and 2015, respectively; liquidation
value of RMB10,284 million and nil as of March 31, 2014 and 2015,
respectively 18.9%
Others 0.1%
Additional paid-in capital 1.6%
Statutory reserves 0.4%

Cumulative translation adjustments 0.8%

72.90%

Long Term Uses

Prepayments, receivables and other assets 0.1%
Property and equipment, net 2.4%
Land use rights 0.4%
Deferred revenue 0.3%
Other liabilities 0.1%
Subscription receivables 0.1%
Retained earnings 59.9%
Noncontrolling interests 4.3%

67.40%
 2014
Short Term Sources
Secured borrowings 12.89%
Income tax payable 1.81%
Escrow money payable 2.42%
Accrued expenses, accounts payable and other liabi 5.26%
Merchant deposits 2.93%

Deferred revenue and customer advances 2.82%

Short Term Uses

Cash and cash equivalents 4.76%
Short-term investments 14.92%
Restricted cash and escrow receivables 2.22%
Loan receivables, net 15.71%
Investment securities 1.46%
Prepayments, receivables and other assets 5.30%
Current bank borrowings 4.05%

48.20%
 Long Term Sources
Land use rights 0.42%
Deferred revenue 0.07%
Deferred tax liabilities 2.69%
Non-current bank borrowings 14.84%
Other liabilities 0.02%

Others 0.06%

Additional paid-in capital 9.69%

Subscription receivables 0.56%
Statutory reserves 2.04%
Cumulative translation adjustments 0.94%
Unrealized gain on available-for-sale investment securities,
interest rate swaps and others 0.59%
Retained earnings 38.98%

Noncontrolling interests 0.97%

Long Term Uses

Investment securities 5.00%
Prepayments, receivables and other assets 1.06%
Investment in equity investees 28.98%
Property and equipment, net 3.19%
Intangible assets 2.83%
Goodwill 0.90%
Redeemable preference shares 9.34%
Convertible Preference Shares, US$0.000025 par value;
2,600,000 shares authorized; 1,688,000 and nil shares issued and outstanding as of March 31,
2014 and 2015, respectively; liquidation value of RMB10,284 million and nil as of March 31,
2014 and 2015, respectively 0.29%
51.58%
 2012
RMB

Revenue
China commerce 15,637
International commerce 3,765
Cloud computing and Internet infrastructure 515
Others 108
Total 20,025
Cost of revenue -6,554
Product development expenses -2,897
Sales and marketing expenses -3,058
General and administrative expenses(2) -2,211
Amortization of intangible assets -155
Impairment of goodwill and intangible assets -135
Yahoo TIPLA amendment payment(3) —
Income from operations 5,015
Interest and investment income, net 258
Interest expense -68
Other income, net 327
Income before income tax and share of results of equity investees 5,532
Income tax expenses -842
Share of results of equity investees -25
Net income 4,665
Net income attributable to noncontrolling interests -437
Net income attributable to Alibaba Group Holding Limited 4,228
Net income attributable to ordinary shareholders 4,228
Earnings per share/ADS attributable to ordinary shareholders:
Basic 1.71
Diluted 1.67
Free cash flow 8,752
 2013 2014
RMB RMB

29,167 45,132
4,160 4,851
650 773
540 1,748
34,517 52,504
-9,719 -13,369
-3,753 -5,093
-3,613 -4,545
-2,889 -4,218
-130 -315
-175 -44
-3,487 —
10,751 24,920
39 1,648
-1,572 -2,195
894 2,429
10,112 26,802
-1,457 -3,196
-6 -203
8,649 23,403
-117 -88
8,532 23,315
8,404 23,076

3.66 10.61
3.57 10
19,745 32,269
Assets
Current assets:
Cash and cash equivalents
Short-term investments
Restricted cash and escrow receivables
Loan receivables, net
Investment securities
Prepayments, receivables and other assets
Total current assets
Investment securities
Prepayments, receivables and other assets
Investment in equity investees
Property and equipment, net
Land use rights
Intangible assets
Goodwill
Total assets
Liabilities, Mezzanine Equity and Shareholders' Equity
Current liabilities:
Current bank borrowings
Secured borrowings
Income tax payable
Escrow money payable
Accrued expenses, accounts payable and other liabilities
Merchant deposits
Deferred revenue and customer advances
Total current liabilities
Deferred revenue
Deferred tax liabilities
Redeemable preference shares
Non-current bank borrowings
Unsecured senior notes
Other liabilities
Total liabilities
Mezzanine equity:

Convertible Preference Shares, US$0.000025 par value;

2,600,000 shares authorized; 1,688,000 and nil shares issued
and outstanding as of March 31, 2014 and 2015, respectively;
liquidation value of RMB10,284 million and nil as of March 31,
2014 and 2015, respectively
Others
Total mezzanine equity
Alibaba Group Holding Limited shareholders' equity:

Ordinary shares, US$0.000025 par value;

2,797,400,000 and 4,000,000,000 shares authorized as of
March 31, 2014 and 2015, respectively; 2,226,810,660 and
2,495,499,036 shares issued and outstanding as of March 31,
2014 and 2015, respectively
Additional paid-in capital
Treasury shares at cost
Restructuring reserve
Subscription receivables
Statutory reserves
Accumulated other comprehensive income
Cumulative translation adjustments

Unrealized gain on available-for-sale investment securities,

interest rate swaps and others
Retained earnings
Total Alibaba Group Holding Limited shareholders' equity
Noncontrolling interests
Total equity
Total liabilities, mezzanine equity and equity
 2012 2013 2014
RMB RMB RMB
(in millions) (in millions) (in millions)

16857 30396 33,045

4887 2290 10,587
3312 3687 4,921
581 4426 13,159
593 629 1,442
1669 1734 4,679
27899 43162 67,833
248 242 3,023
1466 1496 2,087
1642 1555 17,666
2463 3808 5,581
1701 1895 1,660
355 334 1,906
11436 11294 11,793
47210 63786 111,549

1283 3350 1,100

0 2098 9,264
375 259 1,267
339 1315 2,659
4659 8961 11,887
745 3083 4,711
4350 4929 6,496
11751 23995 37,384
529 389 428
413 643 2,136
0 5191 0
0 22462 30,711
—
104 60 72
12797 52740 70,731

0 10447 10,284
 30 86 117
30 10533 10,401

1 1 1
20778 21655 27,043
_ _ —
—
-819 -852 -540
1096 1337 2,474

-2121 -1666 -1,144

1 -8 321
12552 -20491 1,183
31488 -24 29,338
2895 537 1,079
34383 513 30,417
 2013 2014
Source Uses Source Uses
13539 2649
2597 8297
375 1234
3845 8733
36 813
65 2945

6 2781
30 591
87 16111
1345 1773
194 235
21 1572
142 499

2067 2250
2098 7166
116 1008
976 1344
4302 2926
2338 1628
579 1567

140 39
230 1493
5191 5191
22462 8249

44 12

10447 163
 56 31

0
877 5388

33 312
241 1137

455 522

9 329
33043 21674

2358 542

55172 55172 55602 55602