The Zhitong Finance App learned that Bank of America Securities released a research report stating that it maintained the Alibaba-SW (09988) “buy” rating, kept the revenue forecast for the 2025-2026 fiscal year largely unchanged, and lowered the non-GAAP (non-GAAP) net profit forecast by about 7% to reflect Ali's firm commitment to investment. The target price was lowered from HK$103 to HK$100. The bank said that Ali's strategy this year focuses on restoring the growth momentum of the Aotian Group and cloud business, and supporting the continued high growth of Ali International Digital Business Group (AIDC). The company will continue to invest in three key areas while optimizing group efficiency and increasing shareholder returns through buybacks.

The report mentioned that focusing on regaining growth momentum and increasing shareholder returns, the results for the third quarter of fiscal year 2024 ended at the end of December last year were generally in line with expectations. Comprehensive revenue increased 5% year-on-year (excluding offline retail business, 8% year-on-year increase), mainly driven by Taotian Group's 2% increase. Customer management revenue (CMR) grew 0.5% year-on-year, outperforming product turnover (GMV) and order growth, due to the shift in the product portfolio from Tmall to Taobao, which was partially offset by an increase in Taobao's commission rate.