Gelonghui, January 10 | JPMorgan released a report indicating that Alibaba is expected to show positive development in the last quarter, including an improvement in the quarterly growth of Gross Merchandise Volume (GMV), mainly due to strong growth during the Singles' Day Sales on Taobao and Tmall; accelerated growth in Core Customer Management Revenue (CMR) increased from 2.5% in the third quarter to 6% in the fourth quarter, primarily because Taobao started charging platform sellers a 0.6% service fee for basic Software since last September. The adjusted EBITA of Taotian Group has returned to positive growth (the bank expects a 6% year-on-year increase), mainly due to incremental monetization and reasonable investment. The bank reaffirmed its "Shareholding" rating for Alibaba, with a Target Price of HKD 120, and expects Alibaba's revenue in the fourth quarter to increase by 8% year-on-year, exceeding market expectations by 1%, in contrast to a 5% year-on-year growth in the third quarter. Additionally, an adjusted net profit is expected to rise 14% year-on-year, exceeding market expectations by 15%.