Guoxin Securities released a research report stating that it maintained the Alibaba-SW (09988.HK) “buy” rating and slightly adjusted the FY2024-FY2026 revenue forecast to 9390/10141/1093.3 billion yuan, with an adjustment of -0.4%/-0.4%/-0.4%, which mainly reflects the continued contraction of non-core businesses such as Taotian's self-operated and Dawen Entertainment; adjusted FY2024-FY2026 to 1584/1631/186.6 billion yuan, -0.2%/-0.2% main It reflects continued investment in core businesses such as Taotian, and the target price is HK$95-103. After the restructuring, Ali continued to invest in core business, reducing costs and increasing efficiency in non-core businesses.
国信证券：维持阿里巴巴-SW(09988.HK)“买入”评级 目标价95-103港元
Guoxin Securities: Maintaining Alibaba-SW (09988.HK) “Buy” Rating Target Price of HK$95-103
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