Alibaba (BABA)/ 9988 HK; Jack Ma 04 (Dec 23 - Dec 26)

[winston]

Alibaba Group (9988 HK)

3QFY24: Increased Shareholder Return Plan; Pivoting Focus To Reignite Ecommerce Growth

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).

Source: UOBKH

https://research.uobkayhian.com/content ... c1357a6e07

[winston]

vested

Cofounder treasures shares even as Alibaba takes beating

by Nancy Fei

Joseph Tsai said investing in the e-commerce giant was better than opting for 10-year treasury bills.

Tsai said the number of outstanding shares of Alibaba will be reduced by about 3 percent annually over the next three years, which, together with the dividend payout of US$1 (HK$7.80) per American depositary share means the yields could reach 4.5 percent, which is very close to yields for 10-year treasury bills.

The share plunge came after Alibaba's profit fell 69 percent year on year to 14.4 billion yuan (HK$15.7 billion) in the December quarter, driven by its equity investments and a decrease in income from operations due to impairments related to its video streaming service Youku and supermarket chain Sun Art.

Source: The Standard

https://www.thestandard.com.hk/section- ... es-beating

[winston]

vested

Investments to drive GMV growth

Alibaba announced total revenue grew 5% yoy to Rmb260.3bn for the Dec quarter (3QFY3/24), slightly below our expectation, dragged down by Taobao/Tmall business.

Non-GAAP net profit fell 4% yoy to Rmb48bn in 3QFY3/24, below our expectation, due to higher investments for global business and loss from non-core assets.

Alibaba said it will increase its buy-back programme by US$25bn until Mar 2027F, and it plans to reduce the no. of shares by 3% per year for the next three years.

We expect revenue to rise 7.5% yoy and non-GAAP net profit to decline by 1.8% yoy
in 4QFY3/24F, with a non-GAAP NPM of 12%.

We reiterate our Add rating with a lower DCF-based TP of HK$121.

Source: CIMB

https://rfs.cgsi.com/api/download?file= ... AA39645534

[winston]

vested

Michael Burry Adds to China Big Tech Wager as Stock Rout Deepens

by Jacob Gu

Added to wagers on Chinese tech giants Alibaba Group Holding Ltd. and JD.com Inc.

Alibaba is now Scion Asset Management’s top holding.

Smaller rival JD.com Inc. was Scion’s second biggest holding at $5.79 million.

Alibaba swas the biggest new buy for the Canada Pension Plan Investment Board.

On the flip side, Tiger Global Management exited its position in the retailer.

Source: Bloomberg

https://finance.yahoo.com/news/michael- ... 12315.html

[winston]

vested

Veteran Investor Duan Yongping Adds Stake in Alibaba (BABA.US) During 4Q23 - Report

Cailian Press reported that H&H International Investment, a firm owned by investor Duan Yongping, increased its stake in Alibaba (BABA.US) during 4Q23.

The report cited H&H's filing with the US Securities and Exchange Commission, which revealed that its account increased its stake in Alibaba by 1.9187 million American Depositary Shares (ADS) in 4Q23, to a total of 4.9592 million ADS at the end of the quarter.

Related News: BNP Paribas Trims BABA-SW (09988.HK) TP to $91, Rating Buy

At the end of 4Q23, the account held a total of 9 companies with a combined market value of US$14.45 billion.

The top four holdings were Apple (AAPL.US) at US$11.498 billion, Berkshire Hathaway (BRK.B.US) at US$1.692 billion, Alphabet (GOOG.US) at US$757 million and Alibaba at US$384 million.

Compared to the previous quarter, H&H entered into new long positions in Occidental Petroleum (OXY.US), increased its holdings in Moderna (MRNA.US) and Bank of America (BAC.US), reduced its holdings in Apple, Berkshire, Walt Disney Company (DIS.US) and JOYY (YY.US) and liquidated its position in PDD Holdings (PDD.US) .

Related News: JPM Cuts BABA-SW (09988.HK) TP to $100; Financial Outlook Remains Sluggish

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

not vested

Alibaba Discloses State Ownership in More Than 12 Business Units

by Sarah Zheng

China’s ruling Communist Party said this month that it will play a bigger role in steering the country’s technology and science development.

Chinese state-owned enterprises had shares in six of Alibaba’s direct-sales businesses, which contributed less than 6% of its total revenue in the fiscal year to March 2023.

Five of those stakes were below 10% and the other was below 30%, according to the filings.

Source: Bloomberg

https://finance.yahoo.com/news/alibaba- ... 25035.html

[winston]

vested

Alibaba chairman Joe Tsai says e-commerce giant he co-founded is set to bounce back in CNBC interview

Tsai says Alibaba is ‘a lot more confident’ about its position as one of China’s top e-commerce players as it undergoes restructuring process

Chairman says it all ‘comes down to’ how well Alibaba competes and how well it serves its customers and those are the areas it is improving

by Xinmei Shen

Source: SCMP

https://www.scmp.com/tech/big-tech/arti ... -interview

[winston]

vested

G Sachs: BABA-SW Re-igniting E-commerce & Cloud Growth, Aiming Stable Profits & Shareholder Returns

BABA-SW (09988.HK) management reiterated at a recent investor event that the group's future development will focus on investment to increase market share and capital management, re-emphasising that it will invest in the growth of its two core businesses, e-commerce and cloud services, and focus on enhancing shareholder returns and stabilising margins, Goldman Sachs quoted in a research report.

The broker expected the growth of BABA's customer management revenue (CMR) business to drive the adoption of dynamic advertising.

The group is predicted to enhance user experience and differentiated services, and strive to maintain stable profitability of the Taobao Tmall Group, while increasing user retention and purchase frequency.

Goldman currently forecasted BABA's GMV to grow 2% YoY from FY25 to FY26, while Taobao Tmall Group's EBITA is forecast to fall 4% and 3% YoY respectively.

The broker rated BABA Buy and gave it a target price of $102, noting that its valuation is attractive.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

vested

Alibaba Group Holdings led the largest single financing round for a Chinese artificial intelligence (AI) startup, the latest in a string of sizeable investments that suggest the e-commerce firm is again deploying capital in the hunt for growth.

Alibaba joins Tencent Holdings and Silicon Valley peers such as Microsoft in placing big bets on generative AI, the technology that powers ChatGPT.

It led a US$1 billion funding round in Moonshot AI with existing backer Monolith Management, boosting the year-old firm’s valuation eight-fold to some US$2.5 billion, people familiar with the deal said.

They joined previous backers including the investment arm of food delivery giant Meituan and Hongshan, formerly Sequoia China, the sources said, asking not to be identified as discussing a private transaction.

Founded in March 2023, Moonshot AI is among the better-known startups developing generative AI in China, hoping to eventually match the likes of OpenAI and Google.

It rolled out its Kimi chatbot to the public last November and has since launched a platform for developers to build AI applications atop its model.

Its valuation stood at just US$300 million when it secured initial funding.

Source: Phillips

[behappyalways]

Alibaba discloses state ownership in more than 12 business units
https://sg.finance.yahoo.com/news/aliba ... 51116.html