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

[winston]

not vested

Ma backs Taobao amid weak market

by Himo Liu

Alibaba (9988) founder Jack Ma Yun said the mainland economy will continue to be weak and the group will focus more on the Taobao e-commerce platform rather than Tmall, which is for higher-end products.

Source: The Standard

https://www.thestandard.com.hk/section- ... eak-market

[behappyalways]

When we meet again, may we all be carefree!


When we meet again, may we all be carefree’: Read the outgoing Alibaba CEO’s memo to staff
https://www.cnbc.com/2023/06/20/alibaba ... -memo.html


Alibaba founder Jack Ma’s close confidants have taken the top roles at the Chinese tech giant — Here’s who they are
https://www.cnbc.com/2023/06/20/who-is- ... -tsai.html

[behappyalways]

Cai Chongxin takes over the chairman of the world's largest retailer "Alibaba"; Jack Ma's "Zhuge Liang" Cai Chongxin, the hero behind the Ali Empire

蔡崇信接全球最大零售商「阿里巴巴」董事長 馬雲的「諸葛亮」蔡崇信 阿里帝國幕後英雄 ｜TVBS新聞

https://m.youtube.com/watch?v=Y7C54WPPIsI

[winston]

not vested

Alibaba cut to Market Perform on 'value trap' risk

Bernstein moved to a neutral stance, downgrading Alibaba (NYSE:BABA) to Market Perform from Outperform, with a price target of $98.00 (from $130.00) despite the stock's "very cheap" valuation.

The firm cited concerns about a potential "value trap" risk as quarterly comps are about to get harder from here.

According to the firm, Alibaba's problem goes beyond the lack of user traffic and includes the issue of merchant crowding, leading to increased search costs and putting pressure on merchant ROI.

“We're unconvinced that low multiples and modest EPS accretion can drive durable share price performance if the competitive problem in core e-commerce remains unresolved,” Bernstein concluded.

Source: investing.com

[winston]

vested

Alibaba said to weigh options for video platforms Youku, Tudou

By PEI LI and MANUEL BAIGORRI

The company is conducting a strategic review of video streaming platforms Youku and Tudou. One of the options under consideration is to inject the assets into Alibaba Pictures Group Ltd a

In China, Youku competes against Baidu Inc’s iQiyi Inc and Tencent Holdings Ltd.

Deliberations are at an early stage and Alibaba could also explore other options including separate listing for the video platforms or not to proceed with any deal.

Source: Bloomberg

https://www.thestar.com.my/tech/tech-ne ... ouku-tudou

[winston]

vested

CICC Sees Solid Recovery for BABA-SW (09988.HK) Key Biz w/ Strong Profit

CICC noted in a report that BABA-SW (09988.HK) is expected to report a solid recovery in its key businesses and a strong profit performance.

The broker forecasted its revenue for 1FQ24 to grow 9% YoY to RMB225 billion, 1.5% above consensus, mainly due to palatable performance in China commerce and international commerce.

The broker also expected its adjusted EBITA to grow 16% YoY to RMB39.9 billion in the last financial quarter, mainly because of effective expense control in all business segments.

CICC expected BABA's domestic retail GMV and customer management revenue (CMR) to both grow 7% YoY in 1FQ24, attributing the overall positive growth rate to the company's adjustments in price power, content and live streaming, in addition to a low YoY base.

QM data showed DAU growth of 7.6% YoY from April to May for Taobao Tmall, with positive YoY growth in transactions during the 618 festival.

Considering the not-so-low base of 618, the broker judged that BABA is expected to continue its positive GMV and CMR growth trend in the second half of the year.

CICC estimated BABA's China commerce EBITA profit to be RMB48.3 billion in 1FQ24.

Cainiao Express is expected to mainly rely on the integration of Danniao's existing last-mile delivery network capabilities to provide services, and the overall investment is expected to be manageable.

The broker expected BABA's local life and international business segments to have a loss reduction under the new spending approach, with their EBITA losses forecasted at RMB2.8 billion and RMB0.9 billion respectively in 1FQ24, a further reduction in losses YoY.

The broker maintained its Outperform rating on BABA and its price target of $137, which is 12x its non-GAAP P/E ratio for FY24.

Source: AAStocks Financial News

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

[winston]

vested

China to end Ant Group's regulatory revamp with fine of at least $1.1 billion-sources

The People's Bank of China (PBOC), which has been driving the revamp at Ant after its $37 billion IPO was scuttled in late 2020, is expected to disclose the fine in the coming days.

In mid-2020 before its IPO was pulled, it was valued by some investors at more than $300 billion.

Source: Reuters

https://finance.yahoo.com/news/exclusiv ... 47943.html

[winston]

vested

Nomura Restates Buy on Alibaba (BABA.US), Expects Estimate-beating 1FQ Results

Nomura expected Alibaba (BABA.US) 's China ecommerce revenue to grow 8% YoY for 1QFY24 ending 30 June 2023, representing the first positive growth in the past six quarters, thanks to 7% growth in the combined GMV of Taobao and Tmall.

The broker reiterated the group's Buy rating with a target price of US$136.

The broker expected Alibaba's 1QFY24 performance to be better than market expectations.

On the ride of improved customer management revenue (CMR), the broker forecast EBITA of Alibaba's China commerce to grow 7.7% YoY to RMB47 billion.

Source: AAStocks Financial News

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

[winston]

China ends Ant Group’s regulatory revamp with US$984 million fine

The penalty for Ant Group will help pave the way for the fintech firm to secure a financial holding company licence, seek growth, and eventually, revive its plans for a stock market debut.

Source: Business Times

https://www.businesstimes.com.sg/compan ... llion-fine

[winston]

Chinese fintech giant Ant Group to buy back shares at 70 per cent lower valuation than at scrapped IPO

Ant’s planned equity repurchase scheme would value the company at about US$78.5 billion, the company said in a statement on Saturday

That is almost 70 per cent lower than the US$280 billion market capitalisation Ant fetched in 2020 for its scrapped IPO

Source: Bloomberg

https://www.scmp.com/business/china-bus ... f757acf705