Jefferies Financial has released a research report stating that Alibaba has not yet provided the latest news of the 618 activity as of June 20th. However, experts believe that the performance of the activity is strong in key indicators such as GMV growth, repeat purchase rate, and 88VIP customers, and is better than expert expectations. The bank believes that in the business of shelf e-commerce, Alibaba has competitive advantages in selecting products and data insights. In terms of advertising, experts believe that under macroeconomic uncertainty, the number of advertisements continues to increase, and merchants are more willing to conduct marketing activities. Jefferies Financial mentioned that PDD Holdings' momentum is in line with expectations, the value chain construction is good, and it believes that the group's GMV growth momentum in the second half of the year remains strong.
杰富瑞：阿里618不同指标均优于专家预期 拼多多势头符预期
Jefferies Financial: Alibaba's various business indicators during the 618 (June 18 Shopping Festival) surpassed experts' expectations, while pdd holdings' growth momentum was in line with expectations.
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