Alibaba's approach to monetization on Taobao and Tmall:
1. Primary focus is on stabilizing mid to long-term market share, not just increasing monetization rate.
2. Monetization rate reflects market share and commercial efficiency.
3. Recent initiatives like QCT (全站推) and software service fee have improved monetization, especially for previously under-monetized merchants.
4. Expect this trend to continue in coming quarters.
5. Long-term strategy aims to enhance user experience and business model efficiency to drive GMV growth and stable market share.
6. On that foundation, will continue innovating monetization products and models, including AI-related initiatives.
7. Goal is to steadily increase monetization through innovation and improved commercial efficiency, while balancing user experience and merchant sustainability.
Disclaimer: This earnings call summary is generated by AI and is for informational purposes only. Due to technical limitations, inaccuracies may exist. It does not constitute investment advice or commitments.