Re: Alibaba (BABA)/ 9988 HK; Jack Ma 03 (May 21 - Jun 25)
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vested
Alibaba Group (9988 HK)
4QFY24: Rewarding Dividend Payout; Reigniting Cloud Revenue Growth In 2H24
Alibaba delivered in-line 4QFY24 results.
Revenue grew 7% yoy to Rmb221.9b, in line with street estimates.
Non-GAAP net profit was Rmb24.4b, down 11% yoy and is 7% below street estimates, with net margin of 11%.
In FY24, Alibaba has approved the two part dividend of US1.66 per ADS, representing an aggregate of US$4b and 18% dividend payout ratio.
We remain optimistic on the double-digit revenue growth target for the cloud business in 2H24. Maintain BUY. Target price: HK$98.00 (US$98.00).
Source: UOBKH
https://research.uobkayhian.com/content ... e=hs_email
Alibaba Group (9988 HK)
4QFY24: Rewarding Dividend Payout; Reigniting Cloud Revenue Growth In 2H24
Alibaba delivered in-line 4QFY24 results.
Revenue grew 7% yoy to Rmb221.9b, in line with street estimates.
Non-GAAP net profit was Rmb24.4b, down 11% yoy and is 7% below street estimates, with net margin of 11%.
In FY24, Alibaba has approved the two part dividend of US1.66 per ADS, representing an aggregate of US$4b and 18% dividend payout ratio.
We remain optimistic on the double-digit revenue growth target for the cloud business in 2H24. Maintain BUY. Target price: HK$98.00 (US$98.00).
Source: UOBKH
https://research.uobkayhian.com/content ... e=hs_email