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| HSCEI1 | 8,634.34 | 0.00 | -- |
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2026-08-21 10:23:58 Jefferies published a research report on BABA-W (09988.HK), of which revenue for 1FQ ended June 2026 mounted 9% YoY, in line with market's expectations and the broker's forecasts. Adjusted EBITA dropped 30% YoY to RMB27.3 billion, above market expectations of RMB25.6 billion and the broker's forecast of RMB26.2 billion. Management forecast cloud revenue growth to keep accelerating over the coming quarters. ARR from AI-related products was estimated to approach USD10 billion in 2FQ, while the payback period for AI computing investments is around three years. Management also disclosed that T-Head's self-developed chips achieved broad commercialization. The latest generation T-Head chip, Zhenwu M890, was adopted through Alibaba Cloud services by more than 650 external clients across over 20 industries, including internet, autonomous driving and financial services. Jefferies believed the accelerating growth trend in BABA-W's cloud will continue, maintaining a Buy rating. The Hong Kong stock TP was raised from HKD179 to HKD184, while the US stock TP for Alibaba Group Holding Limited (BABA.US) was lifted from USD185 to USD190. ~ AASTOCKS Financial News Website: www.aastocks.com | |