Core marketplace-based Underlying EBITA increased 17% year-on-year to RMB229,134 million (US$34,973 million). In FY2021, to reflect our core marketplace-based Underlying EBITA business, we added progress to the list of new initiative businesses we are carving out of our strategic investments and the profitability of our core marketplace-based businesses on a like-for-like basis.The new initiative businesses, which now include our new retail stores, local consumer services, Lazada, Taobao Deals, Cainiao Network, and others, represent strategic areas in which we are operating to add additional To seize opportunities. Comparative figures are presented accordingly in the same way. A reconciliation of the adjusted EBITA for Core Commerce to the marketplace-based adjusted EBITA of Core Commerce is included at the end of this earnings release.
