JP Morgan Chase has increased its holdings of Alibaba Hong Kong stocks, involving more than 5.9 billion Hong Kong dollars (S $ 1 billion).
Comprehensive Surging News and Securities Times reported that the equity disclosure information of the Hong Kong Stock Exchange showed that Morgan Chase increased its holdings of about 56.36 million shares on Monday (October 14), with an average price of HK $ 105.0870 per share, andThe capital involved was about HK $ 5.922 billion, and the shareholding ratio after the increase increased from 7.80%to 8.09%.
When the Tmall "Double 11" event began, Morgan Chase released the latest research report on October 10th that it is expected that Alibaba's financial report in the second quarter of fiscal year 2025 will increase by about 6%to 239.4 billion yuan(RMB, S $ 44.2 billion); Taotian Group GMV increased by 5%year -on -year, CMR (customer management fee) increased by 2%year -on -year. It is expected that the CMR growth rate will be the same as the GMV growth rate in December.
From September this year, Taobao owned by Alibaba announced that it will fully support Alipay and WeChat payment.
Morgan Chase calculated that there are currently 200 million to 300 million WeChat payment users who are not Taobao users. The interconnection between the two parties is expected to bring 20%to 30%incremental users to Taobao."We think this is a more meaningful potential than most investors expect."
JP Morgan Chase reiterated the BABA super -mixed rating in the research report and raised the target price to 125 to 125US dollar (S $ 164).
Alibaba has officially completed the double listing in Hong Kong in September this year, and is also included in the Hong Kong Stock Connect, which means that the southbound fund will be able to purchase Alibaba through Hong Kong Stock Connect.
JPMorgan Chase Research Report pointed out that in the long run, the proportion of southbound capital holdings may stabilize more than 10%.The Goldman Sachs Research Report predicts that the southbound fund will bring Alibaba's potential funds of 15 billion to 16 billion US dollars.
