In the Q4 FY2024 earnings report, Alibaba disclosed the progress of voluntarily converting into a dual primary listing on the Hong Kong Stock Exchange and stated that it is preparing for the primary listing in Hong Kong, expected to complete the conversion by the end of August this year.
According to a research report released by Tianfeng Securities on the Smart Finance app, given Alibaba-SW's (09988) emphasis on continuously increasing investment to enhance competitiveness, the bank has raised its revenue forecast for FY2025 to FY2027 to RMB 1.0249 trillion, RMB 1.1236 trillion and RMB 1.2193 trillion, respectively; non-GAAP net income forecast is raised to RMB 156.5 billion, RMB 162.2 billion and RMB 164.7 billion, respectively, while maintaining the "buy" rating.
The report points out that the expected revenue in the first quarter of Alibaba's FY2025 is RMB 248.8 billion, a year-on-year increase of 6.2%; the adjusted EBITA fell by 10.8% YoY to RMB 40.5 billion; the EBITA profit margin is 16.3%; the non-GAAP net profit fell by 6% YoY to RMB 42.1 billion.
The Bank predicts that in Alibaba's first fiscal quarter, revenue of Taotian Group will increase by 2.8% YoY; cloud business revenue will increase by 4.8% YoY; international business revenue will increase by 34.7% YoY; local life revenue will increase by 11.1% YoY. It is expected that Cainiao's revenue will increase by 28.1% YoY, and the revenue of the Alibaba Pictures Group will fall by 5%.
In the Q4 FY2024 earnings report, Alibaba disclosed the progress of voluntarily converting into a dual primary listing on the Hong Kong Stock Exchange and stated that it is preparing for the primary listing in Hong Kong, expected to complete the conversion by the end of August this year.