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

[winston]

not vested

Broker│Views

Jefferies│Market digested the epidemic impact on Alibaba; investors were advised to pay attention to the recovery of the three growth pillars: consumption, globalization, and cloud business

Credit Suisse│Strong quarterly results beat; stock was reaffirmed as the sector top pick

DBS│2FQ non-GAAP net profit hiked 19%, beating expectations

Citigroup│2FQ profit and EBITA growth beat

UBS│2FQ revenue missed target due to lower-than-expected CMR growth

Macquarie│Profitability beat

JPMorgan│Multiple business expansions drove profit growth recovery

Goldman Sachs│2FQ EBITA growth in beat on expansion of share repurchases

Daiwa│Short-term Chinese commercial customer business faced challenges

Nomura│2FQ earnings beat, but CMR missed

Morgan Stanley│CMR fell short of expectations

BOCOMI│2FQ profit beat

Related News: CITIC Securities Sees BABA's Repressed Valuation to Release, with Positive Govt Policy

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... t-news/HK6

[winston]

not vested

Jack Ma’s Ant Incurs a 63% Profit Plunge Amid Overhaul

by Lulu Yilun Chen

Source: Bloomberg

https://finance.yahoo.com/news/jack-ma- ... 13646.html

[winston]

not vested

Exclusive-China set to fine Ant Group over $1 billion, signalling revamp nears end-sources

by Julie Zhu

To announce the fine as soon as the second quarter of next year.

A fine on Ant could help pave the way for the company to secure a long-awaited financial holding company license, seek growth again, and eventually revive its plans for a public market debut.

The overhaul includes folding Ant's two lucrative micro-loan businesses into a consumer finance unit and sharing its treasure trove of data on more than 1 billion users with state firms, a move expected to curb its profitability and valuation by curtailing some of its businesses.

Source: Reuters

https://finance.yahoo.com/news/exclusiv ... 48587.html

[behappyalways]

腳底抹油緊酸! 馬雲沉寂兩年低調移居日本 入主孫正義轉讓豪宅 "一證在手"連中國都不敢攔│記者 魏仁君│【國際大現場】20221208│三立新聞台
https://m.youtube.com/watch?v=12tcAJUzZwA

[behappyalways]

U.S., UK export controls hit China's access to Arm's chip designs -FT
https://www.reuters.com/technology/expo ... 022-12-14/

[winston]

not vested

Alibaba co-founder in talks to offload stake worth $260m in firm

Joe Tsai, co-founder and vice chairman of Alibaba Group, has hired Morgan Stanley to sell a sizable portion of his shares in the Chinese tech giant.

The shares are worth US$260 million and are equal to nearly 8% of his total assets in Alibaba. Tsai is the third-largest shareholder after Japanese investor SoftBank and Alibaba co-founder Jack Ma.

According to Forbes, he has a net worth of over US$8 billion. He is also the owner of an NBA team, the Brooklyn Nets.

Source: Tech Asia

https://www.techinasia.com/alibaba-cofo ... -260m-firm

[winston]

Market cheers Ant's 10.5b yuan cash infusion

Alibaba (9988) soared nearly 9 percent after Ant got the green light to raise 10.5 billion yuan (HK$11.9 billion) for its consumer finance unit, paving the way for the finance affiliate's much-delayed and anticipated initial public offering.

The China Banking and Insurance Regulatory Commission division in Chongqing green-lit Ant's plans to boost Chongqing Ant Consumer Finance's capital from 8 billion to 18.5 billion yuan, according to a notice on December 30.

Ant, which contributed 5.25 billion yuan as part of the plan, will control half of its shares after the deal, while a unit owned by the city of Hangzhou will hold 10 percent, becoming the second-biggest shareholder.

Source: AP

https://www.thestandard.com.hk/section- ... h-infusion

[behappyalways]

馬雲又要復活了嗎? 阿里巴巴人事改組 CEO張勇將兼任"雲智能總裁" 中國批准螞蟻擴大資本 消息一出阿里ADR漲近13%｜記者 李令涵｜【國際大現場】20230105｜三立新聞台
https://m.youtube.com/watch?v=Bb1YH_HMJ44

[winston]

not vested

Key steps for Ant Finance’s restructuring process

Ant Group’s consumer finance unit received approval from Chinese regulators to boost its registered capital and introduced new state-owned shareholders.

In addition, the founder, Jack Ma, recently gave up his controlling voting rights in Ant Group to further improve its corporate governance.

We view both actions as key steps in Ant Finance’s restructuring, and we believe the regulatory environment has turned more favourable towards the internet sector.

We expect Alibaba’s revenue to grow by 7% yoy and non-GAAP net profit to increase by 21% yoy in 2H F3/23F, driven by better cost efficiency and a low base in 2H F3/22.

Reiterate Add with an unchanged DCF-based TP of HK$176.

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... 8F2EB35C06

[winston]

not vested

Alibaba Group (9988 HK)
Soft 3QFY23; Multiple Catalysts To Boost Valuation Repair

We believe Alibaba will be the key proxy to benefit from China’s reopening.

We forecast teens yoy revenue growth in 2023, supported by Taobao’s and Tmall’s CMR recovery.

The company is seeing weak consumer spending in 3QFY23 and higher order cancellation rates due to logistics disruptions in the near term.

However, we believe Alibaba still offers an attractive risk-reward opportunity given its key growth drivers.

Maintain BUY. Raise target price to HK$150.00 (US$146.00).

Source: UOBKH

https://research.uobkayhian.com/content ... fa3f7ba3e6