Daily Investment Strategy
Daily focus：Alibaba（9988）
In the fourth quarter of fiscal year 2025, the company's revenue was RMB 236.454 billion, a year-on-year increase of 7%, slightly lower than the market expectation of 237.91 billion; although the adjusted net profit attributable to the company increased by 18% year-on-year to RMB 29.98 billion, it was about 3.4% lower than the market expectation of RMB 31.03 billion. The cloud intelligence business, one of the market focuses, the narrowing of EBITA ratio was greater than expected QoQ; however, Taotian Group, the main profit contributor, saw its EBITA perform better than market expectations due to an increase in Take Rate. The overall performance is mixed. The management will firmly focus on the core business and promote AI+Cloud to become new growth engine for long-term development.
Jerome Powell’s stated that the central bank is reevaluating monetary policy framework
Federal Reserve Chair Jerome Powell has explicitly stated that the central bank is reevaluating "key components" of its monetary policy framework, including inflation targets and the approach to employment "gaps." Powell highlighted the possibility that future inflation could exhibit greater volatility compared to the intermittent periods of the 2010s, presenting a challenging scenario for both the economy and the central bank.
Hong Kong Stock Connect recorded a net outflow of HK$220 million on Thursday, of which China Construction Bank (939) recorded the largest net inflow of HK$980 million, followed by China Mobile (941); Tencent Holdings (700) recorded the largest net outflow of HK$2.36 billion, followed by Pop Mart (9992).
Cheung Cho Shing, Joseph is a SFC licensed person accredited to KGI Group to carry on regulated activities (for details, please refer to:https://apps.sfc.hk/publicregWeb/indi/ACQ030/details). He and/or his associate do not have any financial interest in the recommended issuer or new listing applicant.
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