Alibaba SW (09988) fell significantly within the day, with a maximum decline of nearly 8%, once hitting HK $103.60, a new low since its listing. After hours today, Ali will release the latest quarterly results. The median market expectation shows that the company’s non GAAP net profit during the period was 42.756 billion yuan, down 27.8% year-on-year. As of press time, Alibaba fell 6.76% to HK $104.80, with a turnover of HK $5.667 billion.
According to the arrangement, after hours today, Alibaba SW (09988) will release the results of the third quarter of fiscal year 2022 (2021q4). Affected by the weak macro economy, large losses in strategic investment and weak gross profit margin, 10 institutions, including Goldman Sachs and Morgan Stanley, predicted that the company’s non GAAP net profit was expected to range from 38.064 billion to 49.321 billion yuan in the fourth quarter of last year, down 16.7% to 35.7% year-on-year; The median was 42.756 billion yuan, down 27.8% year-on-year.
The agency pointed out that the market will pay attention to the pulling effect of Alibaba on the expansion of Taobao special edition on the user base and the promotion of consumers’ “wallet share” by taocai, the latest operation and regulatory guidelines, including whether the growth rate of customer management revenue (CMR) of core business will continue to be lower than that of total commodity trading (Gmv).
Guotai Junan Securities Co.Ltd(601211) said that weak consumer demand combined with multi platform diversion dragged down the growth rate of core businesses, straightened out the structure and made strategic adjustments, aiming to revive the momentum. It is estimated that the net profit of non GAAP of Alibaba fy2022 / 2023 / 2024 will be 152.4/162.2/171.2 billion yuan, maintaining the target price of HK $181.20 and the rating of “overweight”.
