$阿里巴巴(BABA_老虎社区_美港股上老虎

$阿里巴巴(BABA)$ $阿里巴巴-SW(09988)$ 主业经营能力和资本配置能力在不同发展阶段的重要性不同，增量市场前者重要，存量市场后者更重要，资本配置包括分红、回购、再投资。

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