On December 19, Gelonghui reported that Morgan Stanley released a Research Report indicating that Alibaba announced the sale of its stake in Intime Retail and expects to receive approximately 7.4 billion yuan from the sale, with a recorded trading loss of about 9.3 billion yuan due to the sale of Intime. Morgan Stanley believes that the sale of Intime aligns with the development strategy previously announced by the management, which is to focus on core Businesses such as Taotian Group, Alibaba Cloud, and the International Digital Commerce Group, with a potential spin-off of its offline Retail Trade business. Given that the decline in Intime's asset value was within market expectations, the recorded loss is not expected to surprise investors. Additionally, considering that the loss is non-cash and non-recurring, it is anticipated that adjustments can be made according to Non-GAAP accounting standards, and it is believed that Alibaba may use the proceeds from this sale to distribute a special dividend. Morgan Stanley currently sets a Target Price of $105 for Alibaba's US stocks, with a rating of 'In Line with the Market.'