BOCOM INTL released a research report stating that it expects Alibaba-SW (09988) to have a net income growth rate of 8% for the calendar year 2025. It maintains its previous view and suggests paying attention to the possibility of accelerated revenue and profit improvements driven by the recovery of Alibaba's core e-commerce business GMV growth and an increase in monetization rates.

On December 17, Alibaba announced that it would sell 100% of its equity in Intime to a purchasing consortium formed by Youngor Group and members of the Intime management team. The total amount from this sale is 7.4 billion yuan (approximately 1 billion USD), and it is expected to incur a loss of 9.3 billion yuan (approximately 1.3 billion USD) from this sale.

This sale has an impact on Alibaba's Earnings Reports as a one-time accounting loss, and the revenue impact is less than 1%. The company's Global Strategy transformation focuses on: 1) E-commerce Taotian and B2B, international e-commerce as the main core platforms; 2) Alibaba Cloud as a technology driver, supporting the development of AI as an important foundation. The bank believes there may still be some business adjustments in the future, but this is also an inevitable path to achieving the group's long-term strategic goals.