BABA: Adjusting To Cope With Weaker Business Environment; Recovering Along With China Retail; Low Base of 2023 Is Likely To Lead To A Positive 2024
BABA will report FY3Q24 results on February 7th before the markets open with a 7:30am ET conference call. We believe BABA’s FY3Q24E performance is likely to be in line, but we are positive for the 2024 outlook. While China's economy in 2023 showed unexpected slow growth, it also provided a low base for 2024. China's economy has its resilience, and it is gradually on its way to recovery. As the e-commerce sector is representative of China's economy, BABA’s performance also showed such recovery. Since BABA announced its new business strategy in 2023, which is to become a “1+6+N” structure, the company has started to withdraw from some of its investments to be more internal and ROI-focused, while deploying capital in its international expansion and user retention in domestic commerce.
T.H. Capital is an independent research and investment advisory firm specializing in China. We offers real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects; from China ADRs to international names that have meaningful exposure to China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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