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Equity securities and other investments (Tables)

12 Months Ended

Mar. 31, 2025

Equity securities and other investments

Schedule of equity securities and other investments at cost and at fair value

		As of March 31, 2024
		Original cost				Cumulative net losses				Carrying value
		RMB				RMB				RMB
		(in millions)
Equity securities:
Listed equity securities			92,456				(25,275	)			67,181
Investments in privately held companies			110,863				(14,385	)			96,478
Debt investments:
Debt securities and loan investments			20,723				(9,641	)			11,082
Other treasury investments			106,150				—				106,150
			330,192				(49,301	)			280,891

		As of March 31, 2025
		Original cost				Cumulative net (losses) gains				Carrying value
		RMB				RMB				RMB
		(in millions)
Equity securities:
Listed equity securities			79,024				(1,394	)			77,630
Investments in privately held companies			113,646				(17,479	)			96,167
Debt investments:
Debt securities and loan investments			15,009				(6,224	)			8,785
Other treasury investments			227,935				81				228,016
			435,614				(25,016	)			410,598

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- Definition

Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets.

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