Moody's Ratings has affirmed Alibaba Group Holding Limited's A1 issuer and senior unsecured ratings, and maintained the negative outlook. "The rating affirmation reflects the company's established brand name, leading market position in the e-commerce industry, track record of steady cash flow genera...
Moody's Ratings has affirmed Alibaba Group Holding Limited's A1 issuer and senior unsecured ratings, and maintained the negative outlook. "The rating affirmation reflects the company's established brand name, leading market position in the e-commerce industry, track record of steady cash flow gene...
Temu achieved strong user engagement growth after sponsoring the Super Bowl in the US in February. We lift our global 2024 GMV forecast for Temu to US$38b from US$34b previously in view of the strong sales growth in Jan-Feb 24 boosted by the Super Bowl. We expect the launch of the new semi-entrusted model in March to further contribute to GMV growth in 2024. To defend against the potential US policy risks, Temu is expected to pivot its focus on Europe, Latin America, and the Middle East.
GREATER CHINA Strategy Alpha Picks: March Conviction Call: Adding CMB, COLI, CR Beer, Kuaishou and TUL to our BUY list, closing out SELL calls. INDONESIA Strategy Alpha Picks: Significant Outperformance In Feb 24: Our picks are BBTN, CMRY, SIDO, EXCL, MAPI, JSMR, CTRA, MYOR and AKRA. MALAYSIA Strategy Alpha Picks: Focusing On Earnings Momentum: Our Alpha Picks underperformed the KLCI in Feb 24 (-0.9% vs 2.5%). Mar 24 picks significantly feature companies with good earnings momentum. SINGAPORE...
What’s new: Alibaba’s reported FY3Q24 results were largely in-line with consensus and our expectations. BABA could step up investments in core businesses (e-commerce and cloud) to drive top-line growth and stabilize/gain market share in both domestic and overseas markets. We maintain our PT at USD100. Analysts: Jin Yoon
Alibaba delivered in-line 3QFY24 results. Revenue grew 5% yoy to Rmb260.3b, in line with street estimates. Non-GAAP net profit was Rmb48b, down 4% yoy and in line with street estimates, with net margin of 18.4%. Alibaba has approved an increase of US$25b to its share repurchase programme through to the end of Mar 27. The company remains focused on achieving double-digit growth in ROIC and targets a 3% share reduction in the next three years. Maintain BUY. Target price: HK$100.00 (US$100.00).
KEY HIGHLIGHTS Results Alibaba Group (9988 HK/BUY/HK$74.90/Target: HK$100.00) 3QFY24: Increased shareholder return plan; pivoting focus to reignite e-commerce growth. Yum China Holdings Inc (9987 HK/NOT RATED/HK$332.80) 4Q23: Earnings beat; expect flattish same-store sales and stable core profit in 1Q24. Update Aier Eye Hospital Group Co (300015 CH/BUY/Rmb13.97/Target: Rmb21.00) Expects solid business expansion despite weak economic conditions. TRADERS’ CORNER China Power International (2...
GREATER CHINA Strategy Alpha Picks: February Conviction Calls: We remain hedged, adding COSCO Shipping Holdings and Foxconn Industrial Internet to our BUY list, but include additional SELL calls on Li Auto and Xpeng. INDONESIA Strategy Alpha Picks: Outperformance in Jan 24: Our picks are EXCL, MAPI, BMRI, JSMR, BBNI, CTRA, MYOR and AKRA. MALAYSIA Strategy Alpha Picks: Eyes Also On Results Season Winners: Our Alpha Picks performance again trounced the KLCI in Jan 24 (+9.6% vs +4.0%). Feb 24 pic...
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. S...
EQS Newswire / 31/01/2024 / 12:39 CET/CEST Empower global customers with LLMs to develop customized AI applicationsSINGAPORE - - 30 January 2024 - Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, unveiled a serverless version of its Platform for AI (PAI)-Elastic Algorithm Service (EAS), designed to offer a cost-efficient solution for model deployment and inference to individuals and enterprises. It also announced the latest integration of its vector engine technology into more product offerings, including its data warehouse Hologres, search services E...
Alibaba Cloud Alibaba Cloud Unveils Serverless Solution to Harness Gen-AI Capabilities for Enterprises 31-Jan-2024 / 08:43 CET/CEST The issuer is solely responsible for the content of this announcement. Empower global customers with LLMs to develop customized AI applications SINGAPORE - - 30 January 2024 - Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, unveiled a serverless version of its Platform for AI (PAI)-Elastic Algorithm Service (EAS), designed to offer a cost-efficient solution for model deployment and inference to individuals and...
EQS Newswire / 18/01/2024 / 06:30 CET/CEST Staff management and ticketing platforms deployed to help enhance operational efficiency; Digital flame and Live Cloud technologies leveraged to provide more engaging experienceSEOUL, SOUTH KOREA - - 18 January 2024 - To further help advance the digital transformation of the International Olympic Committee (IOC), Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, is supporting the Winter Youth Olympics Gangwon 2024 (Gangwon 2024) with its latest cloud technologies. As the official cloud services partner of the IOC,...
Alibaba saw a meaningful consumption recovery in December on its platform, driven by enhanced ad-tech and a low base. We expect revenue to grow 9% yoy for 3QFY24, underpinned by a resilient recovery in CMR growth. Going into FY24, Alibaba will continue to focus on the Taobao-Tmall group upgrade and investment in AIDC to stimulate revenue growth so as to navigate the intense competitive environment. Maintain BUY with a lower target price of HK$102.00 (US$102.00).
KEY HIGHLIGHTS Sector Catering Pick Haidilao in the near term on better operating leverage. Maintain UNDERWEIGHT. Update Alibaba Group (9988 HK/BUY/HK$69.75/Target: HK$102.00) 3QFY24 preview: Improving GMV and advertising growth bolstered by ad-tech upgrade initiatives. China Merchants Bank Co (3968 HK/BUY/HK$25.80/Target: HK$40.00) When the going gets tough, the tough get going. TRADERS’ CORNER Techtronic Industries (669 HK): Trading Buy range: HK$86.00-87.00 Hisense Home Appliances Group ...
What’s New: We lower our CY4Q estimates despite gradual consumption recovery. Margins could be impacted by slower-than-expected CMR coupled with investments in international commerce – particularly on the cross-border businesses. We lower our PT from USD150 to USD100 as recovery could take time. Our revised PT of USD100 implies a 10.2x FY25E P/E. We maintain our BUY rating. Analysts: Jin Yoon
GREATER CHINA Strategy Alpha Picks: January Conviction Calls: We add the potential beneficiaries of the upcoming CNY festival − Galaxy Entertainment and Trip.com − to our BUY list, but include SELL calls on BYD and Geely due to the subsidy reduction. INDONESIA Strategy Alpha Picks: Underperformance in 4Q23 and 2023: Our picks are MAPI, BMRI, JSMR, TLKM, BBNI, CTRA, MYOR and AKRA. MALAYSIA Strategy Alpha Picks: Domestic Event Winners: Our Alpha Picks outperformed the KLCI in Dec 23. Jan 24 pick...
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