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Alibaba Group Holding Ltd

Exhibits

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Alibaba Group Holding Ltd

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CONSOLIDATED INCOME STATEMENTS ¥ in Millions, shares in Millions, $ in Millions	12 Months Ended
	Mar. 31, 2015 USD ($) $ / shares shares	Mar. 31, 2015 CNY (¥) ¥ / shares shares	Mar. 31, 2014 CNY (¥) ¥ / shares shares	Mar. 31, 2013 CNY (¥) ¥ / shares shares
CONSOLIDATED INCOME STATEMENTS
Revenue	$ 12,293	¥ 76,204	¥ 52,504	¥ 34,517
Cost of revenue	(3,845)	(23,834)	(13,369)	(9,719)
Product development expenses	(1,720)	(10,658)	(5,093)	(3,753)
Sales and marketing expenses	(1,373)	(8,513)	(4,545)	(3,613)
General and administrative expenses	(1,258)	(7,800)	(4,218)	(2,889)
Amortization of intangible assets	(337)	(2,089)	(315)	(130)
Impairment of goodwill and intangible assets	(28)	(175)	(44)	(175)
Yahoo TIPLA amendment payment \| ¥				(3,487)
Income from operations	3,732	23,135	24,920	10,751
Interest and investment income, net	1,525	9,455	1,648	39
Interest expense	(443)	(2,750)	(2,195)	(1,572)
Other income, net	401	2,486	2,429	894
Income before income tax and share of results of equity investees	5,215	32,326	26,802	10,112
Income tax expenses	(1,035)	(6,416)	(3,196)	(1,457)
Share of results of equity investees	(257)	(1,590)	(203)	(6)
Net income	3,923	24,320	23,403	8,649
Net income attributable to noncontrolling interests	(9)	(59)	(88)	(117)
Net income attributable to Alibaba Group Holding Limited	3,914	24,261	23,315	8,532
Accretion of Convertible Preference Shares	(2)	(15)	(31)	(17)
Dividends accrued on Convertible Preference Shares	(16)	(97)	(208)	(111)
Net income attributable to ordinary shareholders	$ 3,896	¥ 24,149	¥ 23,076	¥ 8,404
Earnings per share/ADS attributable to ordinary shareholders
Basic \| (per share)	$ 1.67	¥ 10.33	¥ 10.61	¥ 3.66
Diluted \| (per share)	$ 1.56	¥ 9.70	¥ 10.00	¥ 3.57
Weighted average number of share/ADS used in computing earnings per share/ADS (million share)
Basic	2,337	2,337	2,175	2,294
Diluted	2,500	2,500	2,332	2,389

CONSOLIDATED STATEMENTS OF CASH FLOWS ¥ in Millions, $ in Millions	1 Months Ended			12 Months Ended
	Sep. 30, 2012 USD ($)	Sep. 30, 2012 CNY (¥)	May. 31, 2012 CNY (¥)	Mar. 31, 2015 USD ($)	Mar. 31, 2015 CNY (¥)	Mar. 31, 2014 USD ($) shares	Mar. 31, 2014 CNY (¥) shares	Mar. 31, 2013 USD ($) shares	Mar. 31, 2013 CNY (¥) shares
Cash flows from operating activities:
Net income				$ 3,923	¥ 24,320		¥ 23,403		¥ 8,649
Adjustments to reconcile net income to net cash provided by operating activities:
Revaluation of previously held equity interest related to step acquisitions				(1,054)	(6,535)
(Gain) Loss on disposals of equity investees				(21)	(128)		3		(68)
Realized and unrealized gain related to investment securities				(29)	(178)		(90)		(80)
Change in fair value of other assets and liabilities				84	521		21		245
Gain on disposals of other subsidiaries				(50)	(307)		(387)		(8)
Depreciation and amortization of property and equipment and land use rights				375	2,326		1,339		805
Amortization of intangible assets				337	2,089		315		130
Share-based compensation expense				2,102	13,028		2,844		1,259
Equity-settled donation expense							1,269
Impairment of goodwill and intangible assets				28	175		44		175
Loss (Gain) on disposals of property and equipment				(2)	(13)				3
Amortization of restructuring reserve (Note 4(b))				27	166
Share of results of equity investees				257	1,590		203		6
Deferred income taxes				268	1,659		1,466		104
Allowance for doubtful accounts relating to micro loans				105	650		442		120
Changes in assets and liabilities, net of effects of acquisitions and disposals:
Restricted cash and escrow receivables				(137)	(851)		(1,329)		(974)
Loan receivables				(1,883)	(11,674)		(9,175)		(2,828)
Prepayments, receivables and other assets				(363)	(2,253)		(3,567)		(354)
Income tax payable				227	1,410		1,008		(116)
Escrow money payable				135	837		1,344		976
Accrued expenses, accounts payable and other liabilities				1,706	10,578		3,992		3,657
Merchant deposits				402	2,490		1,628		2,338
Deferred revenue and customer advances				212	1,317		1,606		437
Net cash provided by operating activities				6,649	41,217		26,379		14,476
Cash flows from investing activities:
Decrease (Increase) in short-term investments, net				(179)	(1,113)		(8,304)		2,589
Decrease in restricted cash				184	1,139		199		334
Increase in trading investment securities, net				(3)	(16)		(147)		(12)
Acquisitions of available-for-sale and held-to-maturity investment securities				(1,904)	(11,801)		(2,972)		(60)
Disposals of available-for-sale and held-to-maturity investment securities				151	939		372		26
Acquisitions of:
Land use rights and construction in progress				(474)	(2,935)		(1,491)		(1,457)
Other property, equipment and intangible assets				(769)	(4,770)		(3,285)		(1,046)
Disposals of property and equipment									301
Cash paid for business combinations, net of cash acquired				(1,654)	(10,255)		(732)		(52)
Deconsolidation and disposal of subsidiaries, net of cash proceeds				(205)	(1,271)		(46)		551
Loans to employees, net of repayments				(6)	(40)		(212)		(344)
Acquisitions of equity investees				(3,780)	(23,430)		(16,468)		(452)
Disposals of equity investees				16	99		89		167
Net cash provided by (used in) investing activities				(8,623)	(53,454)		(32,997)		545
Cash flows from financing activities:
Issuance of ordinary shares, including repayment of loan and interest receivable on employee loans for the exercise of ordinary shares				9,974	61,831		1,638		16,792
Repurchase of ordinary shares				(44)	(270)		(157)		(40,111)
Issuance (Repurchase) of ordinary shares for Partner Capital Investment Plan (Note 8(c))				(20)	(123)		442
Issuance of Convertible Preference Shares, net of direct incidental fees incurred									10,542
Payment of dividend on Convertible Preference Shares				(17)	(104)		(208)		(103)
Redemption of Redeemable Preference Shares							(5,131)
Dividend paid by a consolidated subsidiary to noncontrolling interests				(10)	(61)
Capital Injection from noncontrolling interest				28	174
Deemed disposals of partial interest in subsidiaries, net of related costs				1	6				11
Proceeds from secured borrowings relating to micro loans				14,264	88,422		53,195		8,705
Repayment of secured borrowings relating to micro loans				(13,271)	(82,269)		(46,029)		(6,607)
Proceeds from current bank borrowings				4,163	25,804		681		2,439
Repayment of current bank borrowings				(3,990)	(24,734)		(423)		(2,584)
Proceeds from non-current bank borrowings				3,162	19,602		30,153		24,979
Repayment of non-current bank borrowings				(7,991)	(49,538)		(24,788)
Proceeds from unsecured senior notes				7,865	48,757
Net cash (used in) provided by financing activities				14,114	87,497		9,364		(1,406)
Effect of exchange rate changes on cash and cash equivalents				(18)	(112)		(97)		(76)
Increase in cash and cash equivalents				12,122	75,148		2,649		13,539
Cash and cash equivalents at beginning of year				5,331	33,045		30,396		16,857
Cash and cash equivalents at end of year				17,453	108,193	$ 5,331	33,045		30,396
Supplemental disclosures of cash flow information:
Payment of income taxes					3,458		722		1,469
Payment of interest					956		1,220		912
Business combinations:
Cash paid for business combinations					(16,291)		(767)		(100)
Cash acquired in business combinations					6,036		35		48
Cash paid for business combinations, net of cash acquired				$ (1,654)	¥ (10,255)		¥ (732)		¥ (52)
Major non-cash transactions:
Number of underlying ordinary shares issued \| shares						7,195,581	7,195,581	400,000	400,000
Acquisition of the remaining noncontrolling interest in a subsidiary
Cash flows from financing activities:
Acquisition payment							¥ (9)		¥ (335)
Yahoo \| Initial Repurchase
Cash flows from financing activities:
Repurchase of ordinary shares	$ (6,300)	¥ (39,800)
Major non-cash transactions:
Total consideration for Initial Repurchase	7,100	44,900						$ 7,100	44,900
Alibaba.com Limited \| Privatization of Alibaba.com Limited
Cash flows from financing activities:
Acquisition payment			¥ (15,100)						(15,134)
Redeemable Preference Shares \| Yahoo \| Initial Repurchase
Major non-cash transactions:
Liquidation preference amount of Redeemable Preference Shares issued to settle Initial Repurchase	$ 800	¥ 5,100						$ 800	¥ 5,100

CONSOLIDATED BALANCE SHEETS ¥ in Millions, $ in Millions	Mar. 31, 2015 USD ($)	Mar. 31, 2015 CNY (¥)	Mar. 31, 2014 CNY (¥)
Current assets:
Cash and cash equivalents	$ 17,453	¥ 108,193	¥ 33,045
Short-term investments	2,282	14,148	10,587
Restricted cash and escrow receivables	371	2,297	4,921
Loan receivables, net	135	835	13,159
Investment securities	590	3,658	1,442
Prepayments, receivables and other assets	2,094	12,978	4,679
Total current assets	22,925	142,109	67,833
Investment securities	2,357	14,611	3,023
Prepayments, receivables and other assets	659	4,085	2,087
Investment in equity investees	5,465	33,877	17,666
Property and equipment, net	1,474	9,139	5,581
Land use rights	501	3,105	1,660
Intangible assets	1,061	6,575	1,906
Goodwill	6,764	41,933	11,793
Total assets	41,206	255,434	111,549
Current liabilities:
Current bank borrowings	321	1,990	1,100
Secured borrowings			9,264
Income tax payable	441	2,733	1,267
Escrow money payable			2,659
Accrued expenses, accounts payable and other liabilities	3,199	19,834	11,887
Merchant deposits	1,162	7,201	4,711
Deferred revenue and customer advances	1,277	7,914	6,496
Total current liabilities	6,400	39,672	37,384
Deferred revenue	72	445	428
Deferred tax liabilities	725	4,493	2,136
Non-current bank borrowings	260	1,609	30,711
Unsecured senior notes	7,903	48,994
Other liabilities	347	2,150	72
Total liabilities	$ 15,707	¥ 97,363	¥ 70,731
Commitments and contingencies
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			¥ 10,284
Others	$ 106	¥ 658	117
Total mezzanine equity	106	658	10,401
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	0	1	1
Additional paid-in capital	18,897	117,142	27,043
Treasury shares at cost	0	0	0
Restructuring reserve	(186)	(1,152)
Subscription receivables	(66)	(411)	(540)
Statutory reserves	438	2,715	2,474
Accumulated other comprehensive income
Cumulative translation adjustments	(177)	(1,095)	(1,144)
Unrealized gain on available-for-sale investment securities, interest rate swaps and others	549	3,397	321
Retained earnings	4,007	24,842	1,183
Total Alibaba Group Holding Limited shareholders' equity	23,462	145,439	29,338
Noncontrolling interests	1,931	11,974	1,079
Total equity	25,393	157,413	30,417
Total liabilities, mezzanine equity and equity	$ 41,206	¥ 255,434	¥ 111,549