Alibaba (BABA)/ 9988 HK; Jack Ma 03 (May 21 - Jun 25)

[winston]

not vested

HSBC Global Research Sees Uncertainties in Alibaba (BABA.US) Near-term Rev. Recovery; Low Valuation Has Factored in Negatives

Alibaba (BABA.US) tracked YoY GMV growth in 618 shopping festival, mainly driven by strong performance of fast-moving consumer goods (FMCG) and consumer electronics, reported HSBC Global Research.

Although ads revenue narrowed the gap between customer management revenue (CMR) and GMV rise for the March quarter, it may rattle again soon due to higher return rate and commission loss under logistic disruptions, and more conservative ads spending among merchants under muted consumer sentiment.

The firm's revenue mix shift may offset segmental margin enhancement.

The firm's near-term fundamentals were clouded by the uncertain revenue revival. However, at a 13.5x FY24E PE, HSBC assumed part of the risks to have been priced in.

Overall, the stock was kept at Buy at an unchanged target price of US$146.

Source: AAStocks Financial News

[winston]

not vested

CICC Expects BABA-SW (09988.HK) 1FQ Rev. Little Shy of Consensus

Given the prolonged COVID-19 pandemic in mainland China, which weighs on BABA-SW (09988.HK) 's China Commerce, CICC forecast the group's revenue to drop by 3% YoY in the first quarter of FY2023 to RMB200.3 billion, 3% below the market consensus.

The adjusted EBITA for the first quarter was also projected to plummet 31% YoY to RMB28.9 billion due to the COVID resurgence in China and widening YoY losses from new businesses such as Taobao Deals and Taocaicai.

CICC described BABA-SW's efforts on cost reduction and efficiency enhancement as well on track, while anticipating the full-year losses from Taobao Deals, Taocaicai, new retail business, and Ele.me to narrow.

CICC kept the FY2022-23E revenue for BABA-SW largely unchanged and hiked the FY2022-23E non-GAAP attributable net profit by 6% and 2%, respectively.

The rating for the H-shares of BABA-SW was maintained at Outperform, with a target price of $137.

Source: AAStocks Financial News

[winston]

not vested

Macquarie Raises BABA-SW (09988.HK) TP to $145, Rating Outperform

Before BABA-SW (09988.HK) discloses its 1QFY23 results, Macquarie fine-tuned its earning forecast on the company, viewing that there is limited change to the holistic outlook.

The broker believed the sequential cost optimization of various segments can underpin the healthy earning recovery in the next few quarters.

In Macquarie's estimate, the core marketplace GMV of BABA-SW is likely treading towards a 8% decline YoY, thanks to the healthy logistics restoration and solid merchant demand during "618" promotion.

Related News: C Suisse: Investors Want to Accumulate Meituan, JD among CN Dotcoms; Yet Sentiment Weak on Tencent

While maintaining the revenue forecast, Macquarie raised the 2023-24E adjusted earnings by 2%.

The target price was lifted from $138 to $145, with rating reiterated at Outperform. The broker recommended accumulating BABA-SW shares.

Source: AAStocks Financial News

[behappyalways]

Alibaba Lays Off More Than 35% Of Its Investment Team Amidst Continued Regulatory Crackdowns
https://www.zerohedge.com/markets/aliba ... crackdowns

[behappyalways]

Alibaba seeks primary Hong Kong listing to court China investors
https://www.theedgesingapore.com/news/c ... -investors

[winston]

vested

Billionaire Jack Ma plans to relinquish control of Ant Group, Dow Jones reported, citing people familiar with the matter said, part of the fintech giant's effort to appease regulators following a lengthy crackdown.

With Ma giving up control, a revival of Ant's initial public offering (IPO) could be put back another year or more, Dow Jones reported, citing Chinese securities regulations that require a timeout on public listings for companies that have gone through a change in control.

Ma, who doesn't hold any titles at Ant, currently controls 50.52 per cent of voting rights in the company.

He could transfer some of his voting power to other Ant officials including chief executive Eric Jing, Dow Jones cited the people as saying.

Source: Phillips

[behappyalways]

Jack Ma To Cede Control Of Ant Group
https://www.zerohedge.com/markets/jack- ... ng-company

[winston]

vested

BABA To Strive to Maintain Listing Status on NYSE, HKEX after Being Added to US Provisional Delisting List

BABA-SW (09988.HK) announced that, on July 29, 2022, Alibaba, among others, was identified by the U.S. Securities and Exchange Commission (SEC) as a “Commission-Identified Issuer” under the Holding Foreign Companies Accountable Act (HFCAA), indicating the SEC has determined that Alibaba used a registered public accounting firm, whose audit work papers cannot be fully inspected or investigated by the Public Company Accounting Oversight Board of the United States (PCAOB) for the fiscal year ended March 31, 2022.

Under the HFCAA, if the PCAOB cannot fully inspect or investigate the registered public accounting firm that audited a U.S.- listed company’s financial statements for three consecutive “non-inspection” years, the SEC is required to prohibit such company’s securities from being traded on any of the U.S. national securities exchanges, including the New York Stock Exchange (NYSE), or in U.S. “over-the-counter” markets.

Related News: CICC: China Concepts' HK Dual Primary Listing Is Best Solution to Avert US Mkt Delisting Risk

Alibaba will continue to monitor market developments, comply with applicable laws and regulations and strive to maintain its listing status on both the NYSE and the Hong Kong Stock Exchange, the announcement added.

Source: AAStocks Financial News

[behappyalways]

阿里巴巴避美退市風險 宣布在港主要上市 TVBS文茜的世界財經周報 20220731
https://m.youtube.com/watch?v=l_N8f5rBsN4

[winston]

Alibaba revenue beats expectations despite contraction

Alibaba reported revenues of 205.6 billion ($30.4 billion) for its quarter ended June, a 0.1% decrease from the same time last year.

Net income plunged 50% to 22.7 billion yuan ($3.4 billion). Excluding one-time charges, adjusted earnings per ADS totaled $1.75, topping the average analyst estimate of $1.60 per share.

Source: Market Beat

https://www.marketbeat.com/articles/ali ... 4A8F75D6B5