jpmorgan expects Alibaba's second fiscal quarter revenue to rise 8% year on year adjusted net profit to rise 13% lower expectations
Jpmorgan Chase issued a report that expects Alibaba's revenue in the second quarter of fiscal 2024 to grow 8% year-on-year to 225 billion yuan, 1% lower than market expectations. Adjusted net profit forecast increased 13% year-over-year to 38 billion yuan, 5% below market expectations, due to the view that the market is overly optimistic about the growth of China's retail commercial customer management business, and the comparison basis of the offline business is more difficult than in the June quarter. Alibaba shares have fallen 13 percent since the company released its first-quarter results in August, the bank said, arguing that some of the weakness is already reflected in the stock price. Looking ahead, we remain optimistic about the revenue growth outlook for the December quarter, given the deep cooperation with wechat traffic and the new marketing tools for merchants. Based on the forecast of 15 times earnings for the fiscal year 2024, Motong reiterated its overweight rating on Ali, with a target price of HK $145 for Hong Kong stocks and US $150 for US stocks.
Daiwa Alibaba target price to HK $137 reiterates buy rating
In a research note, Daiwa cut its target price for Alibaba (09988.HK) by 9% from HK $151 to HK $137 based on SOTP, reiterating its buy rating. The report expects the group's revenue growth from Taobao/Tmall, local services and Cainiao businesses to slow down in the second quarter of fiscal year 2024, with revenue forecast to increase 7% year-on-year to 221.7 billion yuan, and non-GAAP EBITA to increase 15% year-on-year to 41.5 billion yuan, slightly below market forecasts. Taking into account investments in Taobao and Tmall and its international commerce business, the bank cut its earnings per share forecast by 4 to 5 percent for fiscal years 2024 to 2026.
Station B again mentions the user growth target: double the daily active users of mobile terminal
According to LatePost, in an internal meeting of Bilibili in the middle of this year, CEO Rui Chen pointed out that "there is still potential for user growth on Bilibili" and "must do a good job in user growth", and proposed the goal of doubling the daily active users (DAU) of the main mobile terminal on the current basis. However, for the plan, Chen Rui did not give a clear implementation time.
Internal supply chain anti-corruption several employees to cooperate in the investigation Xopeng Automobile: does not affect the production link
According to Sina Technology, in response to the news that a number of employees cooperated with the investigation, Xiaopeng Automobile said that it was a normal anti-corruption behavior, and the incident did not affect the business and production links. Recently, media reports said that Xiaopeng Motor announced the internal suspension of the head of the procurement department, a number of employees to cooperate with the investigation. It is reported that the matter began with Xiaopeng Motor's internal supply chain anti-corruption, involving multiple levels, and police intervention.
He Sai won which Zha automobile new model Lidar mass production point
According to the Beijing Business Daily network, on October 10, Hesai Technology announced that it had won the new vehicle front loading mass production project of which Zha Automobile, which Zha automobile new models will be equipped with Hesai ultra HD long-range Lidar AT128, which is expected to land in the first half of 2025.
Heavy automatic driving document released, Huawei, Baidu Zhixing and other participate in the preparation
According to Sina Finance, recently, the Ministry of Transport issued the "Highway Engineering Facilities Support Automatic driving Technology Guide" (JTG/T 2430-2023). Based on the digital and intelligent development trend of highway engineering facilities, the Guide puts forward the overall architecture and main technical indicators of highway engineering facilities to support automatic driving on the road, which will be implemented on December 1 this year. The Guide is edited by highway science researchers of the Ministry of Transport, with the participation of Huawei, Baidu Zhixing Technology and Autonavi Yungraph Technology.
NIo will sell insurance
According to the Shanghai News, NIO has further entered the insurance industry. Tian Eye check information shows that Hui Ding Insurance Brokerage Co., Ltd. has recently undergone industrial and commercial changes, and the enterprise name has been changed to "Wei Lai Insurance Brokerage Co., LTD.". This change or means that NIO will carry out insurance-related businesses through existing license companies, and its strategic layout into the insurance industry is expected to accelerate the landing. It is worth noting that previously, Weilai had registered a Weilai insurance broker Co., LTD., but it was cancelled in March this year. This time, Huiding insurance brokers changed its name, using the company name that was previously cancelled.
Baidu Map: Lane level navigation 3.0 has covered the four core urban areas, and will exceed 100 cities by the end of the year
According to Baidu Map, during the National Day, Baidu Map lane level navigation 3.0 provided lane guidance for more than 300 million people per day, and accumulated more than 250 million people to help users avoid dangerous lane changes in tunnels. At present, lane-level navigation 3.0 has covered the four core urban areas of Beijing-Tianjin-Hebei, Yangtze River Delta, Pearl River Delta and Chengdu-Chongqing. By the end of 2023, Baidu Map lane level navigation 3.0 is expected to cover more than 100 cities nationwide. By the end of October this year, lane-level navigation 3.0 will accelerate coverage of Zhoukou, Yantai, Lanzhou, Tai 'an, Baoding, Huzhou, Hengyang and other places.
Ideal car: This month will hit a new monthly sales record of 40,000 units
According to the ideal car official micro, in the 41st week of 2023 (10.2-10.8), the ideal car weekly sales of 0.69 million units, ranking first in China's new power brand sales. In terms of sales of luxury brands in the Chinese market, Ideal Automobile ranks among the top four and is the highest ranking Chinese brand in the list, while continuing to maintain the top three sales of new energy brands in the Chinese market. This month, it will hit a new monthly sales record of 40,000 units. Ideal also announced that in September, 21 new stores opened, including 16 direct retail centers, three delivery centers and two after-sales service centers; As of the end of September, there are 361 retail centers and 318 after-sales maintenance centers and authorized plate spraying centers in the country, covering 131 cities and 213 cities respectively.
Ehang has a major announcement: trading suspension from today until October 13
Ehang announced that due to the upcoming announcement of significant developments regarding the Company's business operations, the Nasdaq Stock Market has approved the suspension of trading of the Company's American Depositary Shares (ADSs) from the opening of the market at 9:30 am Eastern Time on October 9, 2023 (9:30 PM Beijing time on October 9). Ehang said it will make the big announcement before 5 a.m. Et on Oct. 13, 2023, and apply to resume trading of its American Depositary shares.
Yin Yu, Vice President of Tencent Group has left
Yin Yu, president of Tencent Education, has stepped down from his post and left Tencent, according to Jiemian News. In fact, this executive change has been happening for some time, but Tencent did not send a letter to the official as usual to announce the adjustment, and did not explain the reasons for the personnel change internally. After the change of business leaders, Tencent Education is shrinking its scale and readjuring its strategic direction, and traditional K12-related businesses and C-side businesses such as Tencent Classroom are also gradually shutting down. It is understood that in the cost reduction and efficiency measures of the entire group in 2022, the layoffs of the wisdom education team are relatively large, and the business has experienced a period of adjustment pains. At present, under the requirements of CSIG's overall pursuit of profit performance, Tencent Education is also transforming to the B end.
wechat takes the lead in accessing Hongmeng ecological application
According to mobile China, recently, Tencent announced that wechat will be adapted to HarmonyOS in a native way, becoming the first social application to access the Hongmeng ecosystem, in addition, many of Tencent's products are also joining HarmonyOS, including QQ Music, King of Glory and other popular applications.
Didi: 39 enterprises including central state-owned enterprises access Didi Enterprise Edition
According to 36 kr, business travel demand has gradually strengthened since September. The order scale of the enterprise version of Didi has recently fully recovered to the pre-epidemic level. This year, many enterprises, including 39 central state-owned enterprises, have connected to the Didi enterprise version. According to Didi Enterprise Edition data, the overall corporate travel demand in September increased by about 13.5% compared with August. Among them, air ticket reservations rose 13.1 percent, train ticket reservations rose 17 percent, and hotel reservations rose 12.4 percent.
Tmall Double 11 incentive plan announced: Ali mother invested 3 billion subsidies + two major AI products
Ali mother released this year's double 11 incentive plan for businesses and masters: a total of more than 3 billion subsidies, including small and medium-sized businesses will continue to receive incremental dividends on Tmall Double 11 this year. Launched the "Million business plan" for small and medium-sized businesses, with a total investment of more than 2 billion cash, aiming to allow more small and medium-sized businesses to achieve millions of transactions in Double 11. For the drainage and promotion of merchants during the double 11 period and the needs of the whole network to plant grass, we invested 1 billion subsidies for Taobao customers to encourage Taobao customers to help merchants improve the conversion rate of commodity transactions. Also for Ali mother's two major AI products (Wan Xiangtai Boundless edition and Ali Mother Bailing), launched ten million experience gold plan to help businesses use AI technology to achieve easier and more efficient operation goals.