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Huat小姐

Huat小姐

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2024-05-22

"The stock could doubled ". I have heard it over the past two years. Money invested here could have easily doubled with many other stocks .

Sorry, the original content has been removed

2024-04-21

Singaporeans first . We dont need more population.

2024-04-15

its time to slow down the market for local Singaporeans!

Sorry, the original content has been removed

2024-02-11

Sure a not

Sorry, the original content has been removed

2023-11-23

[捂脸]

Sorry, the original content has been removed

2022-06-13

$THAI BEVERAGE PUBLIC CO LTD(Y92.SI)$can someone enlightened me on how to check for dividends paid pls ?

2022-05-09

😱

Palantir Stock Sinks 11.6% Premarket After Q1 Results

Go to Tiger App to see more news

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href=\"https://ttm.financial/S/Y92.SI\">$THAI BEVERAGE PUBLIC CO LTD(Y92.SI)$</a>can someone enlightened me on how to check for dividends paid pls ?","listText":"<a href=\"https://ttm.financial/S/Y92.SI\">$THAI BEVERAGE PUBLIC CO LTD(Y92.SI)$</a>can someone enlightened me on how to check for dividends paid pls ?","text":"$THAI BEVERAGE PUBLIC CO LTD(Y92.SI)$can someone enlightened me on how to check for dividends paid pls ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9052367227","isVote":1,"tweetType":1,"viewCount":571,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9062498398,"gmtCreate":1652094847714,"gmtModify":1676535027543,"author":{"id":"4093499725885820","authorId":"4093499725885820","name":"Huat小姐","avatar":"https://static.tigerbbs.com/1ea5840431390db7c8c784b53d27c048","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4093499725885820","idStr":"4093499725885820"},"themes":[],"htmlText":"😱&nbsp;","listText":"😱&nbsp;","text":"😱","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9062498398","repostId":"1187917201","repostType":2,"repost":{"id":"1187917201","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, 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tg-height=\"675\" referrerpolicy=\"no-referrer\"/>Global economic and geopolitical forces appeared to be weighing on the company’s near-term outlook, although Palantir’s long-established ties to U.S. government defense and intelligence agencies could be an advantage in a world rife with geopolitical conflict.</p><p>For the March quarter, <a href=\"https://laohu8.com/S/PLTR\">Palantir </a> posted revenue of $446.4 million, up 31% from a year ago,a smidge shy of the company’s guidance of $447 million, but above the Wall Street consensus at $443 million.</p><p>On an adjusted basis, the data analytics company earned 2 cents a share in the quarter, 2 cents short of the Wall Street consensus. Under generally accepted accounting principles, the company lost 5 cents a share. Adjusted Ebitda, or earnings before interest, taxes, depreciation and amortization, was $121.7 million, up 27%. Adjusted operating margin was 26%, three points better than the company had forecast.</p><p>The company said commercial revenue was $205 million, up 54% in the quarter, including 136% growth from U.S. customers, ahead of the Wall Street consensus forecast of $193 million. Government revenue grew 16% to $242 million, missing analysts’ forecasts of $251 million. Customer count rose 86% from a year ago, the company said.</p><p>For the second quarter ending in June, Palantir guided to a “base case” of $470 million in revenue, while noting that there was “a wide range of potential upside to our guidance, including those driven by our role in responding to developing geopolitical events.” Previous consensus called for $484 million in second-quarter revenue.</p><p>Palantir repeated a previous forecast for 27% adjusted operating margins for the full year, and likewise reiterated its long-term forecast for annual revenue growth of 30% or better through 2025.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Palantir Stock Sinks 11.6% Premarket After Q1 Results</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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Under generally accepted accounting principles, the company lost 5 cents a share. Adjusted Ebitda, or earnings before interest, taxes, depreciation and amortization, was $121.7 million, up 27%. Adjusted operating margin was 26%, three points better than the company had forecast.</p><p>The company said commercial revenue was $205 million, up 54% in the quarter, including 136% growth from U.S. customers, ahead of the Wall Street consensus forecast of $193 million. Government revenue grew 16% to $242 million, missing analysts’ forecasts of $251 million. Customer count rose 86% from a year ago, the company said.</p><p>For the second quarter ending in June, Palantir guided to a “base case” of $470 million in revenue, while noting that there was “a wide range of potential upside to our guidance, including those driven by our role in responding to developing geopolitical events.” Previous consensus called for $484 million in second-quarter revenue.</p><p>Palantir repeated a previous forecast for 27% adjusted operating margins for the full year, and likewise reiterated its long-term forecast for annual revenue growth of 30% or better through 2025.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187917201","content_text":"Palantir Stock Sinks 11.6% Premarket After Q1 Results. Palantir Technologies posted soft first-quarter results, along with June quarter guidance that fell shy of previous Wall Street forecasts.Global economic and geopolitical forces appeared to be weighing on the company’s near-term outlook, although Palantir’s long-established ties to U.S. government defense and intelligence agencies could be an advantage in a world rife with geopolitical conflict.For the March quarter, Palantir  posted revenue of $446.4 million, up 31% from a year ago,a smidge shy of the company’s guidance of $447 million, but above the Wall Street consensus at $443 million.On an adjusted basis, the data analytics company earned 2 cents a share in the quarter, 2 cents short of the Wall Street consensus. Under generally accepted accounting principles, the company lost 5 cents a share. Adjusted Ebitda, or earnings before interest, taxes, depreciation and amortization, was $121.7 million, up 27%. Adjusted operating margin was 26%, three points better than the company had forecast.The company said commercial revenue was $205 million, up 54% in the quarter, including 136% growth from U.S. customers, ahead of the Wall Street consensus forecast of $193 million. Government revenue grew 16% to $242 million, missing analysts’ forecasts of $251 million. Customer count rose 86% from a year ago, the company said.For the second quarter ending in June, Palantir guided to a “base case” of $470 million in revenue, while noting that there was “a wide range of potential upside to our guidance, including those driven by our role in responding to developing geopolitical events.” Previous consensus called for $484 million in second-quarter revenue.Palantir repeated a previous forecast for 27% adjusted operating margins for the full year, and likewise reiterated its long-term forecast for annual revenue growth of 30% or better through 2025.","news_type":1},"isVote":1,"tweetType":1,"viewCount":458,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":9062498398,"gmtCreate":1652094847714,"gmtModify":1676535027543,"author":{"id":"4093499725885820","authorId":"4093499725885820","name":"Huat小姐","avatar":"https://static.tigerbbs.com/1ea5840431390db7c8c784b53d27c048","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4093499725885820","authorIdStr":"4093499725885820"},"themes":[],"htmlText":"😱&nbsp;","listText":"😱&nbsp;","text":"😱","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9062498398","repostId":"1187917201","repostType":2,"repost":{"id":"1187917201","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1652094524,"share":"https://ttm.financial/m/news/1187917201?lang=&edition=fundamental","pubTime":"2022-05-09 19:08","market":"us","language":"en","title":"Palantir Stock Sinks 11.6% Premarket After Q1 Results","url":"https://stock-news.laohu8.com/highlight/detail?id=1187917201","media":"Tiger Newspress","summary":"Palantir Stock Sinks 11.6% Premarket After Q1 Results. Palantir Technologies posted soft first-quart","content":"<html><head></head><body><p><a href=\"https://laohu8.com/S/PLTR\">Palantir</a> Stock Sinks 11.6% Premarket After Q1 Results. Palantir Technologies posted soft first-quarter results, along with June quarter guidance that fell shy of previous Wall Street forecasts.</p><p><img src=\"https://static.tigerbbs.com/4c0856edc469b61d83a364331926e31d\" tg-width=\"862\" tg-height=\"675\" referrerpolicy=\"no-referrer\"/>Global economic and geopolitical forces appeared to be weighing on the company’s near-term outlook, although Palantir’s long-established ties to U.S. government defense and intelligence agencies could be an advantage in a world rife with geopolitical conflict.</p><p>For the March quarter, <a href=\"https://laohu8.com/S/PLTR\">Palantir </a> posted revenue of $446.4 million, up 31% from a year ago,a smidge shy of the company’s guidance of $447 million, but above the Wall Street consensus at $443 million.</p><p>On an adjusted basis, the data analytics company earned 2 cents a share in the quarter, 2 cents short of the Wall Street consensus. Under generally accepted accounting principles, the company lost 5 cents a share. Adjusted Ebitda, or earnings before interest, taxes, depreciation and amortization, was $121.7 million, up 27%. Adjusted operating margin was 26%, three points better than the company had forecast.</p><p>The company said commercial revenue was $205 million, up 54% in the quarter, including 136% growth from U.S. customers, ahead of the Wall Street consensus forecast of $193 million. Government revenue grew 16% to $242 million, missing analysts’ forecasts of $251 million. Customer count rose 86% from a year ago, the company said.</p><p>For the second quarter ending in June, Palantir guided to a “base case” of $470 million in revenue, while noting that there was “a wide range of potential upside to our guidance, including those driven by our role in responding to developing geopolitical events.” Previous consensus called for $484 million in second-quarter revenue.</p><p>Palantir repeated a previous forecast for 27% adjusted operating margins for the full year, and likewise reiterated its long-term forecast for annual revenue growth of 30% or better through 2025.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Palantir Stock Sinks 11.6% Premarket After Q1 Results</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPalantir Stock Sinks 11.6% Premarket After Q1 Results\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-05-09 19:08</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><a href=\"https://laohu8.com/S/PLTR\">Palantir</a> Stock Sinks 11.6% Premarket After Q1 Results. Palantir Technologies posted soft first-quarter results, along with June quarter guidance that fell shy of previous Wall Street forecasts.</p><p><img src=\"https://static.tigerbbs.com/4c0856edc469b61d83a364331926e31d\" tg-width=\"862\" tg-height=\"675\" referrerpolicy=\"no-referrer\"/>Global economic and geopolitical forces appeared to be weighing on the company’s near-term outlook, although Palantir’s long-established ties to U.S. government defense and intelligence agencies could be an advantage in a world rife with geopolitical conflict.</p><p>For the March quarter, <a href=\"https://laohu8.com/S/PLTR\">Palantir </a> posted revenue of $446.4 million, up 31% from a year ago,a smidge shy of the company’s guidance of $447 million, but above the Wall Street consensus at $443 million.</p><p>On an adjusted basis, the data analytics company earned 2 cents a share in the quarter, 2 cents short of the Wall Street consensus. Under generally accepted accounting principles, the company lost 5 cents a share. Adjusted Ebitda, or earnings before interest, taxes, depreciation and amortization, was $121.7 million, up 27%. Adjusted operating margin was 26%, three points better than the company had forecast.</p><p>The company said commercial revenue was $205 million, up 54% in the quarter, including 136% growth from U.S. customers, ahead of the Wall Street consensus forecast of $193 million. Government revenue grew 16% to $242 million, missing analysts’ forecasts of $251 million. Customer count rose 86% from a year ago, the company said.</p><p>For the second quarter ending in June, Palantir guided to a “base case” of $470 million in revenue, while noting that there was “a wide range of potential upside to our guidance, including those driven by our role in responding to developing geopolitical events.” Previous consensus called for $484 million in second-quarter revenue.</p><p>Palantir repeated a previous forecast for 27% adjusted operating margins for the full year, and likewise reiterated its long-term forecast for annual revenue growth of 30% or better through 2025.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187917201","content_text":"Palantir Stock Sinks 11.6% Premarket After Q1 Results. Palantir Technologies posted soft first-quarter results, along with June quarter guidance that fell shy of previous Wall Street forecasts.Global economic and geopolitical forces appeared to be weighing on the company’s near-term outlook, although Palantir’s long-established ties to U.S. government defense and intelligence agencies could be an advantage in a world rife with geopolitical conflict.For the March quarter, Palantir  posted revenue of $446.4 million, up 31% from a year ago,a smidge shy of the company’s guidance of $447 million, but above the Wall Street consensus at $443 million.On an adjusted basis, the data analytics company earned 2 cents a share in the quarter, 2 cents short of the Wall Street consensus. Under generally accepted accounting principles, the company lost 5 cents a share. Adjusted Ebitda, or earnings before interest, taxes, depreciation and amortization, was $121.7 million, up 27%. Adjusted operating margin was 26%, three points better than the company had forecast.The company said commercial revenue was $205 million, up 54% in the quarter, including 136% growth from U.S. customers, ahead of the Wall Street consensus forecast of $193 million. Government revenue grew 16% to $242 million, missing analysts’ forecasts of $251 million. Customer count rose 86% from a year ago, the company said.For the second quarter ending in June, Palantir guided to a “base case” of $470 million in revenue, while noting that there was “a wide range of potential upside to our guidance, including those driven by our role in responding to developing geopolitical events.” Previous consensus called for $484 million in second-quarter revenue.Palantir repeated a previous forecast for 27% adjusted operating margins for the full year, and likewise reiterated its long-term forecast for annual revenue growth of 30% or better through 2025.","news_type":1},"isVote":1,"tweetType":1,"viewCount":458,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":272894444445832,"gmtCreate":1707662560102,"gmtModify":1707662564718,"author":{"id":"4093499725885820","authorId":"4093499725885820","name":"Huat小姐","avatar":"https://static.tigerbbs.com/1ea5840431390db7c8c784b53d27c048","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4093499725885820","authorIdStr":"4093499725885820"},"themes":[],"htmlText":"Sure a not&nbsp;","listText":"Sure a not&nbsp;","text":"Sure a not","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/272894444445832","repostId":"2410304642","repostType":2,"repost":{"id":"2410304642","kind":"highlight","pubTimestamp":1707632980,"share":"https://ttm.financial/m/news/2410304642?lang=&edition=fundamental","pubTime":"2024-02-11 14:29","market":"us","language":"en","title":"This Is What Is Wrong With Alibaba's Earnings","url":"https://stock-news.laohu8.com/highlight/detail?id=2410304642","media":"seekingalpha","summary":"Despite apparently ticking all the right boxes, Alibaba continues to drift lower.At first sight, the company is dirt cheap, but there is quite obviously something wrong.In this article, I will highlight some of the key issues with Alibaba’s fundamentals, some of which matter even for the long term. Chesnot/Getty Images News What is wrong with Alibaba?","content":"<html><head></head><body><ul style=\"\"><li><p>Despite apparently ticking all the right boxes, Alibaba continues to drift lower.</p></li><li><p>At first sight, the company is dirt cheap, but there is quite obviously something wrong.</p></li><li><p>In this article, I will highlight some of the key issues with Alibaba’s fundamentals, some of which matter even for the long term.</p></li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6e4c217125cad7f5bbbd4d153a9a7340\" tg-width=\"594\" tg-height=\"380\"/></p><p>Chesnot/Getty Images News</p><h2 id=\"id_4155765161\">What is wrong with Alibaba?</h2><p>In my last review of Alibaba (NYSE:BABA) earnings I focused on &#34;hallucinations&#34;. However, already back in April 2023, when I had warned that Alibaba would remain cheap for a long time, I had asked myself whether it was me who maybe was hallucinating something, as the overwhelming majority of analysts took the other side of the trade.</p><p>But in the end, the stock became only cheaper and underperformed the S&amp;P 500 by a whopping 45%. Those bullish analysts were evidently missing something.</p><p>This time may be no different: Right after Alibaba&#39;s Q3/24 results, a lot of enthusiastic Buy ratings were issued.</p><p>When I look at Alibaba&#39;s earnings materials, I intuitively associate a famous Woody Allen scene from Take the Money and Run: He prepares for a date, showers, grooms himself at the mirror, leaves his apartment - but suddenly he comes right back in, and as the camera zooms out, it reveals he forgot his pants.</p><p>Alibaba ticks all the right boxes: Announces IPOs, buybacks, even a dividend, has great FCF, a gigantic net cash position, talks AI, future growth prospects, etc. - but once you consider the full picture something is still wrong.</p><h2 id=\"id_650007289\">Alibaba Q3/24 earnings review</h2><p>The company clearly felt the impact of a sluggish Chinese economy and, most importantly, of its growing competition. Key segments that make up over half of Alibaba&#39;s revenues and more than its entire net earnings like Cloud, Taobao and Tmall barely grew. In contrast, the strongly growing international commerce segment did so at a hefty cost, growing its losses almost 5-fold. As a result, total net profits were down 4% even on an adjusted basis and below consensus. After factoring in mark-to-market changes from equity investments and large impairments mainly relating to Sun Art and Youku, net profits were down 69%.</p><p>Adjusted EBITDA came in roughly flat, while free cash flow felt the impact of higher capex and working capital additions and was down 31% YoY. For the first nine months, FCF was flat at $20B. If Q4 brings in similar FCF as in Q4/23, for the full year Alibaba will rake in $25B of FCF, flat YoY, corresponding to 14% of its market cap.</p><p>In Q3, share-based compensation was down 30% YoY.</p><p>To assuage investor concerns, management increased its buyback authorization by a huge $25B, which means that over the next three years the total amount available for repurchases stands at over $35B or 20% of the company&#39;s market cap. (At least in theory - see below.)</p><p>As explained during the Alibaba Q3/24 earnings conference call, there are some limitations to buybacks, as the company&#39;s cash cannot be used entirely offshore. Still, management intends to use buybacks to bring total shareholder returns to roughly the same level of Treasury Bills: 1.4% of dividend yield plus about 3% of equity reduction.</p><p>At this point, we have Woody Allen nicely dressed up - not George Clooney, but, well, at least a clean look.</p><h2 id=\"id_323889540\"><a href=\"https://laohu8.com/S/ZM\">Zoom</a> out on Alibaba&#39;s Q3/24 earnings</h2><p>Over the past few years, most investors have gone from expecting Alibaba to be George Clooney (or the Amazon (AMZN) of China) to being ok with getting Woody Allen. Now they seem to be preparing for being ok with Woody Allen without pants.</p><p>In fact, Alibaba was expected to grow earnings by the double-digits for many years, but it is not growing anymore.</p><p>Several of its manifold ventures have suffered large impairments. Competition is on the rise, and if competition managed to bother almighty Alibaba at home, it certainly has more than a shot to do so internationally as well. It is probably just a question of time.</p><p>In the meantime, Alibaba is trying to fortify its first-mover advantage by pouring more and more money into its international activities. A few years ago, in the ZIRP days, investors would have stopped reading the press release after the GMV and revenue data. Today, they look at net earnings as well. And they highly doubt the final result will justify those expenses.</p><p>For example, in Europe concerns regarding the large inflow of Chinese small-ticket items are growing: They are eluding import duties, often don&#39;t correspond to European safety standards and overall represent clearly unfair competition for Europe&#39;s own manufacturers. So tighter regulations might curb future growth for international Chinese e-commerce players.</p><p>We can always rationalize the current situation and put the blame on the general economy, geopolitical tensions, the need for growing AI investments to bolster future returns, etc. - but the fact is that Alibaba&#39;s Cloud and Chinese e-commerce businesses have lost market share. Actually, they have lost far more market share than (the few) sceptical investors had expected. - How can we be sure that the trend is reversible? Why shouldn&#39;t it accelerate?</p><p>There hasn&#39;t been a lack of distractions for Alibaba management, many of which self-inflicted: Think about the botched Ant Group IPO, the continuous management reshuffling, the first announced, then mostly retracted IPO plans. Management now says that market conditions are not right. But were they right one year ago? Chinese stocks and Alibaba were in the doghouse long before those multi-IPO plans were announced. So why is management backpedalling? We just don&#39;t know.</p><p>Many investors point to the huge FCF and the net cash position. How much of this cash will be actually given back to shareholders? In 2023, Alibaba spent $9.5B for a 3.3% net reduction of the share count. It currently has the equivalent of 2.5B ADS outstanding, which means the 3.3% reduction corresponds to 85m ADS. Yet the company repurchased a total of 112m ADS in 2023. The difference of 27m ADS were just neutralizing share issuance. Hence, we might argue that instead of paying ~$85 per ADS (9,500/112), the effective cost was $112 per ADS (9,500/85).</p><p>As a note aside, many investors overvalue the value-generating effect of share repurchases. If done at fair value, the net effect of share repurchases on intrinsic value per continuing share is exactly zero, as cash on hand owned by continuing shareholders is exchanged for a greater slice of the business.</p><p>Since I expect objections, just look at this simple example: Company Onehundred, Inc. has 100 shares outstanding, its business is worth $100 and it has net cash of $100. Therefore Onehundred&#39;s fair value and market cap is $200 or $2 per share. If the company repurchases 50% of shares outstanding for $100, the continuing shareholders still own the entire business worth $100, but no net cash anymore. Consequently, each of the remaining 50 shares is worth $2 - the same as before the massive buyback.</p><p>To be accretive, repurchases need to be done substantially below fair value. - But what if management effectively always pays 30% more than market value as in the case of Alibaba? Investors should probably consider that, over time, those share repurchases are more likely to destroy some value.</p><p>At this point I would expect the objection that, during the past few quarters, share-based compensation has come down enormously (roughly 50% YTD). Right, but this is mainly due to the current lower market value of the awards granted. In other words: The same number of awards were granted, they were just worth less - at the moment of issuance. But if you are a bull and believe the stock will go up, the effective value of these grants will increase as well. To neutralize their effect, management will need to spend a growing part of its FCF.</p><h2 id=\"id_2598212957\">A look into Alibaba&#39;s future</h2><p>At this point we have the full picture of Woody Allen dressed up, but without pants. Sure, he can slide into a pair of trousers and meet the girl, but will the date be a success? - We certainly have many reasons to be doubtful.</p><p>Personally, instead of factoring in a 20% share count reduction over the next 3 years, I believe half of this number is probably more realistic - which is actually in line with management guidance of 3% per year.</p><p>Given the sickening volatility of the stock and the unpredictability of the business, coupled with general concerns regarding China, a total return of 4-5% is obviously not enough. Investors want far more, which means Alibaba needs to grow net earnings from here.</p><p>It has squandered a lot of money on ventures like Sun Art which it now wants to exit. But issues like these should be considered part of the game - and part of the reason why until a few years ago the fast evolving tech space used to trade for relatively low multiples compared to its growth rates. It was simply deemed to be too unpredictable and at least some huge capital allocation mistakes had to be factored in.</p><p>Investors don&#39;t need Alibaba to trade for 30x earnings to make a killing. If Alibaba traded for just 14x its FCF, it would double from here. The only question that matters is how it can get the multiple to expand.</p><p>First of all, as we have seen, a haircut to FCF is appropriate, as 25-50% of it (depending on the stock price) will simply go into the neutralization of share issuance.</p><p>Assuming no growth, but just steady FCF generation over the next three years, Alibaba will roughly generate $75B of FCF and use $35B of it to buy back 10% of its shares. In addition I assume it will pay in total ~$4 of dividends per share, for a total of $10B. Therefore, three years from now, net cash will have increased by $30B. If the stock traded for 10x FCF, it would stand at $111 per ADS, i.e. from today shareholders would get a very decent total return of roughly 50%.</p><p>The 10x FCF multiple actually is not that much of an expansion from today&#39;s 7.2x, since the projected accumulation of additional net cash would be worth 1.2x on its own.</p><p>Given the very conservative - if not outright bearish - assumptions underlying my projection, it is pretty evident that Alibaba is cheap. To improve its multiple, investors will need to see steadiness and predictability - not only of the general environment and Chinese regulations, but perhaps most importantly from the company itself. If management continues to act erratically and/or geopolitical tensions and/or regulatory interventions continue to weigh on sentiment, expect investors to stay cautious.</p><p>In order to make more than just a decent return, Alibaba also needs to grow earnings. Currently, investors have the impression that the company is embarking in a major investment phase and are not willing to pay up for the promise of later profits, given past experiences and the general geopolitical picture. I believe this attitude is unlikely to change quickly and therefore keep my Hold rating, although I acknowledge that the risk/reward is starting to look asymmetrical at the current valuation.</p><p>Given how intertwined the Alibaba story is with general political issues, I strongly advise against trading the stock on any kind of short-term &#34;signals&#34;. While in general a bad idea for any stock, in the case of Alibaba negative news of all sorts can surface any minute of every day and make you lose your pants for real.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>This Is What Is Wrong With Alibaba's Earnings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThis Is What Is Wrong With Alibaba's Earnings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-02-11 14:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4669234-this-is-what-is-wrong-alibabas-earnings><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Despite apparently ticking all the right boxes, Alibaba continues to drift lower.At first sight, the company is dirt cheap, but there is quite obviously something wrong.In this article, I will ...</p>\n\n<a href=\"https://seekingalpha.com/article/4669234-this-is-what-is-wrong-alibabas-earnings\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://seekingalpha.com/article/4669234-this-is-what-is-wrong-alibabas-earnings","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2410304642","content_text":"Despite apparently ticking all the right boxes, Alibaba continues to drift lower.At first sight, the company is dirt cheap, but there is quite obviously something wrong.In this article, I will highlight some of the key issues with Alibaba’s fundamentals, some of which matter even for the long term.Chesnot/Getty Images NewsWhat is wrong with Alibaba?In my last review of Alibaba (NYSE:BABA) earnings I focused on \"hallucinations\". However, already back in April 2023, when I had warned that Alibaba would remain cheap for a long time, I had asked myself whether it was me who maybe was hallucinating something, as the overwhelming majority of analysts took the other side of the trade.But in the end, the stock became only cheaper and underperformed the S&P 500 by a whopping 45%. Those bullish analysts were evidently missing something.This time may be no different: Right after Alibaba's Q3/24 results, a lot of enthusiastic Buy ratings were issued.When I look at Alibaba's earnings materials, I intuitively associate a famous Woody Allen scene from Take the Money and Run: He prepares for a date, showers, grooms himself at the mirror, leaves his apartment - but suddenly he comes right back in, and as the camera zooms out, it reveals he forgot his pants.Alibaba ticks all the right boxes: Announces IPOs, buybacks, even a dividend, has great FCF, a gigantic net cash position, talks AI, future growth prospects, etc. - but once you consider the full picture something is still wrong.Alibaba Q3/24 earnings reviewThe company clearly felt the impact of a sluggish Chinese economy and, most importantly, of its growing competition. Key segments that make up over half of Alibaba's revenues and more than its entire net earnings like Cloud, Taobao and Tmall barely grew. In contrast, the strongly growing international commerce segment did so at a hefty cost, growing its losses almost 5-fold. As a result, total net profits were down 4% even on an adjusted basis and below consensus. After factoring in mark-to-market changes from equity investments and large impairments mainly relating to Sun Art and Youku, net profits were down 69%.Adjusted EBITDA came in roughly flat, while free cash flow felt the impact of higher capex and working capital additions and was down 31% YoY. For the first nine months, FCF was flat at $20B. If Q4 brings in similar FCF as in Q4/23, for the full year Alibaba will rake in $25B of FCF, flat YoY, corresponding to 14% of its market cap.In Q3, share-based compensation was down 30% YoY.To assuage investor concerns, management increased its buyback authorization by a huge $25B, which means that over the next three years the total amount available for repurchases stands at over $35B or 20% of the company's market cap. (At least in theory - see below.)As explained during the Alibaba Q3/24 earnings conference call, there are some limitations to buybacks, as the company's cash cannot be used entirely offshore. Still, management intends to use buybacks to bring total shareholder returns to roughly the same level of Treasury Bills: 1.4% of dividend yield plus about 3% of equity reduction.At this point, we have Woody Allen nicely dressed up - not George Clooney, but, well, at least a clean look.Zoom out on Alibaba's Q3/24 earningsOver the past few years, most investors have gone from expecting Alibaba to be George Clooney (or the Amazon (AMZN) of China) to being ok with getting Woody Allen. Now they seem to be preparing for being ok with Woody Allen without pants.In fact, Alibaba was expected to grow earnings by the double-digits for many years, but it is not growing anymore.Several of its manifold ventures have suffered large impairments. Competition is on the rise, and if competition managed to bother almighty Alibaba at home, it certainly has more than a shot to do so internationally as well. It is probably just a question of time.In the meantime, Alibaba is trying to fortify its first-mover advantage by pouring more and more money into its international activities. A few years ago, in the ZIRP days, investors would have stopped reading the press release after the GMV and revenue data. Today, they look at net earnings as well. And they highly doubt the final result will justify those expenses.For example, in Europe concerns regarding the large inflow of Chinese small-ticket items are growing: They are eluding import duties, often don't correspond to European safety standards and overall represent clearly unfair competition for Europe's own manufacturers. So tighter regulations might curb future growth for international Chinese e-commerce players.We can always rationalize the current situation and put the blame on the general economy, geopolitical tensions, the need for growing AI investments to bolster future returns, etc. - but the fact is that Alibaba's Cloud and Chinese e-commerce businesses have lost market share. Actually, they have lost far more market share than (the few) sceptical investors had expected. - How can we be sure that the trend is reversible? Why shouldn't it accelerate?There hasn't been a lack of distractions for Alibaba management, many of which self-inflicted: Think about the botched Ant Group IPO, the continuous management reshuffling, the first announced, then mostly retracted IPO plans. Management now says that market conditions are not right. But were they right one year ago? Chinese stocks and Alibaba were in the doghouse long before those multi-IPO plans were announced. So why is management backpedalling? We just don't know.Many investors point to the huge FCF and the net cash position. How much of this cash will be actually given back to shareholders? In 2023, Alibaba spent $9.5B for a 3.3% net reduction of the share count. It currently has the equivalent of 2.5B ADS outstanding, which means the 3.3% reduction corresponds to 85m ADS. Yet the company repurchased a total of 112m ADS in 2023. The difference of 27m ADS were just neutralizing share issuance. Hence, we might argue that instead of paying ~$85 per ADS (9,500/112), the effective cost was $112 per ADS (9,500/85).As a note aside, many investors overvalue the value-generating effect of share repurchases. If done at fair value, the net effect of share repurchases on intrinsic value per continuing share is exactly zero, as cash on hand owned by continuing shareholders is exchanged for a greater slice of the business.Since I expect objections, just look at this simple example: Company Onehundred, Inc. has 100 shares outstanding, its business is worth $100 and it has net cash of $100. Therefore Onehundred's fair value and market cap is $200 or $2 per share. If the company repurchases 50% of shares outstanding for $100, the continuing shareholders still own the entire business worth $100, but no net cash anymore. Consequently, each of the remaining 50 shares is worth $2 - the same as before the massive buyback.To be accretive, repurchases need to be done substantially below fair value. - But what if management effectively always pays 30% more than market value as in the case of Alibaba? Investors should probably consider that, over time, those share repurchases are more likely to destroy some value.At this point I would expect the objection that, during the past few quarters, share-based compensation has come down enormously (roughly 50% YTD). Right, but this is mainly due to the current lower market value of the awards granted. In other words: The same number of awards were granted, they were just worth less - at the moment of issuance. But if you are a bull and believe the stock will go up, the effective value of these grants will increase as well. To neutralize their effect, management will need to spend a growing part of its FCF.A look into Alibaba's futureAt this point we have the full picture of Woody Allen dressed up, but without pants. Sure, he can slide into a pair of trousers and meet the girl, but will the date be a success? - We certainly have many reasons to be doubtful.Personally, instead of factoring in a 20% share count reduction over the next 3 years, I believe half of this number is probably more realistic - which is actually in line with management guidance of 3% per year.Given the sickening volatility of the stock and the unpredictability of the business, coupled with general concerns regarding China, a total return of 4-5% is obviously not enough. Investors want far more, which means Alibaba needs to grow net earnings from here.It has squandered a lot of money on ventures like Sun Art which it now wants to exit. But issues like these should be considered part of the game - and part of the reason why until a few years ago the fast evolving tech space used to trade for relatively low multiples compared to its growth rates. It was simply deemed to be too unpredictable and at least some huge capital allocation mistakes had to be factored in.Investors don't need Alibaba to trade for 30x earnings to make a killing. If Alibaba traded for just 14x its FCF, it would double from here. The only question that matters is how it can get the multiple to expand.First of all, as we have seen, a haircut to FCF is appropriate, as 25-50% of it (depending on the stock price) will simply go into the neutralization of share issuance.Assuming no growth, but just steady FCF generation over the next three years, Alibaba will roughly generate $75B of FCF and use $35B of it to buy back 10% of its shares. In addition I assume it will pay in total ~$4 of dividends per share, for a total of $10B. Therefore, three years from now, net cash will have increased by $30B. If the stock traded for 10x FCF, it would stand at $111 per ADS, i.e. from today shareholders would get a very decent total return of roughly 50%.The 10x FCF multiple actually is not that much of an expansion from today's 7.2x, since the projected accumulation of additional net cash would be worth 1.2x on its own.Given the very conservative - if not outright bearish - assumptions underlying my projection, it is pretty evident that Alibaba is cheap. To improve its multiple, investors will need to see steadiness and predictability - not only of the general environment and Chinese regulations, but perhaps most importantly from the company itself. If management continues to act erratically and/or geopolitical tensions and/or regulatory interventions continue to weigh on sentiment, expect investors to stay cautious.In order to make more than just a decent return, Alibaba also needs to grow earnings. Currently, investors have the impression that the company is embarking in a major investment phase and are not willing to pay up for the promise of later profits, given past experiences and the general geopolitical picture. I believe this attitude is unlikely to change quickly and therefore keep my Hold rating, although I acknowledge that the risk/reward is starting to look asymmetrical at the current valuation.Given how intertwined the Alibaba story is with general political issues, I strongly advise against trading the stock on any kind of short-term \"signals\". While in general a bad idea for any stock, in the case of Alibaba negative news of all sorts can surface any minute of every day and make you lose your pants for real.","news_type":1},"isVote":1,"tweetType":1,"viewCount":296,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":308560538779736,"gmtCreate":1716354003129,"gmtModify":1716354007081,"author":{"id":"4093499725885820","authorId":"4093499725885820","name":"Huat小姐","avatar":"https://static.tigerbbs.com/1ea5840431390db7c8c784b53d27c048","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4093499725885820","authorIdStr":"4093499725885820"},"themes":[],"htmlText":"\"The stock could doubled \". &nbsp;I have heard it over the past two years. &nbsp;Money invested here could have easily doubled with many other stocks .","listText":"\"The stock could doubled \". &nbsp;I have heard it over the past two years. &nbsp;Money invested here could have easily doubled with many other stocks .","text":"\"The stock could doubled \". I have heard it over the past two years. Money invested here could have easily doubled with many other stocks .","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/308560538779736","repostId":"2437382481","repostType":2,"repost":{"id":"2437382481","kind":"highlight","pubTimestamp":1716347754,"share":"https://ttm.financial/m/news/2437382481?lang=&edition=fundamental","pubTime":"2024-05-22 11:15","market":"sh","language":"en","title":"Alibaba: Deep Undervaluation Meets Changing Sentiment","url":"https://stock-news.laohu8.com/highlight/detail?id=2437382481","media":"seekingalpha","summary":"Alibaba reported solid results in the last quarter and fiscal year with revenue and EPS increasing for the full year.The stock remains deeply undervalued, and when assuming only mid-single digit growt","content":"<html><head></head><body><ul style=\"\"><li><p>Alibaba reported solid results in the last quarter and fiscal year with revenue and EPS increasing for the full year.</p></li><li><p>The stock remains deeply undervalued, and when assuming only mid-single digit growth rates, I believe the stock price could double.</p></li><li><p>And aside from being deeply undervalued, we also see signs for sentiment changing regarding Alibaba and the Chinese stock market in general.</p></li></ul><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/b8c14f58dccd9c0adcd98fb70e15a895\" alt=\"Robert Way\" title=\"Robert Way\" tg-width=\"750\" tg-height=\"500\"/><span>Robert Way</span></p><p>In beginning this article about Alibaba Group Holding Limited I can make a rare statement and write a sentence I could seldom write in the past few years. Since my last article was published on February 15, 2024, Alibaba increased 18% and clearly outperformed the S&amp;P 500 (SPY).</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/dd5f88aa14ce3b8ed1b9fc04221899d6\" alt=\"Data by YCharts\" title=\"Data by YCharts\" tg-width=\"635\" tg-height=\"424\"/><span>Data by YCharts</span></p><p>But we should not obscure the fact that Alibaba is still trading way below its previous all-time high, and almost everyone who bought Alibaba in the last few years is still in the red. In my last article, I wrote that it is always darkest before the dawn, and it seems like the dawn has broken. In the following article, I will explain why I not only think Alibaba is (still) extremely undervalued, but also why I also see reasons to be optimistic regarding sentiment.</p><h2 id=\"id_2339160643\">Quarterly Results</h2><p>Last week, on May 14, 2024, Alibaba reported its fourth quarter results for fiscal 2024 and while the company beat revenue estimates by $310 million, non-GAAP earnings per share missed slightly by $0.02.</p><p>When looking at the results, we could describe the last quarterly results as mixed. Revenue increased from RMB 208.2 billion in Q4/23 to RMB 221.9 billion in Q4/24 – resulting in 6.6% top line growth. And while income from operations increased slightly (3.2% year-over-year growth) from RMB 14,765 million in the same quarter last year to RMB 15,240 million this quarter, diluted earnings per share declined steeply. Instead of RMB 1.12 in the same quarter last year, the company reported only RMB 0.16 in earnings per share this quarter.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/b98dedba5f7b82875b5a6ce6b661ee2d\" alt=\"Alibaba Q4/23 Investor Presentation\" title=\"Alibaba Q4/23 Investor Presentation\" tg-width=\"640\" tg-height=\"361\"/><span>Alibaba Q4/23 Investor Presentation</span></p><p>And while a lot was written about the steeply declining net income this quarter, the explanation is quite simple. The reason for the decline was the interest and investment income, which was RMB 10,946 million in the same quarter last year and in the last quarter the company generated a loss of RMB 5,702 million in Q4/24. Warren Buffett pointed out long ago that it makes sense in such circumstances (a company having huge equity investments) to look at operating income instead to level out these fluctuations of equity investments. And Alibaba has RMB 220.9 billion in “equity securities and other investments” as well as RMB 203.1 billion in “investment in equity method investees”. Additionally, Alibaba has RMB 263.0 billion in short-term investments.</p><h2 id=\"id_1205336252\">Annual Results</h2><p>We can also look at the annual results and revenue increased from RMB 868.7 billion in the previous year to RMB 941.2 billion in the fiscal 2024 – resulting in 8.3% year-over-year growth. Income from operations increased 13.0% YoY from RMB 100,351 million to RMB 113,350 million and diluted earnings per share increased 14.0% YoY from RMB 3.43 in the previous year last year to RMB 3.91 in fiscal 2024. While these are solid results, free cash flow – one of the most important metrics – declined from RMB 171,663 million in fiscal 2023 to RMB 156,210 million in fiscal 2024. This is a decline of 9.0% year-over-year.</p><h2 id=\"id_2307629193\">Segment Results</h2><p>Alibaba is a rather diversified business and with the holding company being split up into six business segments, it makes sense to take a closer look – especially as there seem to be two different kinds of business segments. On the one side the core business, which is responsible for a huge part of revenue and basically the entire EBITDA, and on the other side we have business segments which are often not profitable or are barely profitable but can grow at a high pace.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/159a2becad13108ecb047183dd7926b0\" alt=\"Alibaba Q4/23 Investor Presentation\" title=\"Alibaba Q4/23 Investor Presentation\" tg-width=\"640\" tg-height=\"357\"/><span>Alibaba Q4/23 Investor Presentation</span></p><p>The most important segment is without any doubt the <em>Taobao and Tmall Group</em>. In fiscal 2024 it generated RMB 434,893 million in revenue and although revenue grew 5.2% year-over-year it can’t match the growth rates of other segments. Adjusted EBITDA increased only slightly from RMB 189,140 million in the previous year to RMB 194,827 million in fiscal 2024 – resulting in 3.0% growth, but the segment is generating more adjusted EBITDA than the Alibaba Group (as other segments are not profitable).</p><p>Another segment that seems to belong in this category now is the <em>Cloud Intelligence Group</em>, which generated RMB 106,374 million in revenue and compared to the previous year this is only 2.8% year-over-year growth. And the segment generated RMB 6,121 million in adjusted EBITDA and compared to the previous fiscal year this results in 49.3% YoY growth. Compared to the Taobao and Tmall Group, which has an adjusted EBITDA margin of 44.8%, the Cloud Intelligence Group has only a margin of 5.8%.</p><p>In fiscal 2024 revenue increased only in the low single digits for the segment, but as I already pointed out in my article <em>Alibaba: Spin-Off as catalyst to unlock value</em> we have reasons to assume higher growth rates again for the cloud business in the years to come as several studies assume growth rates in the double-digits.</p><p>On the other hand, we have two segments which are growing with a rather high pace but are not really profitable yet. The <em>Cainiao Smart Logistics Networks Limited</em> generated RMB 99,020 million in revenue – an increase of 27.7% year-over-year growth in revenue. And for fiscal 2024, the segment was also profitable and generated an adjusted EBITDA of RMB 1,420 million (compared to a small loss in the previous year).</p><p>And another segment growing with a high pace is Alibaba International Digital Commerce Group. In fiscal 2024 revenue increased 45.5% year-over-year to RMB 102,598 million. But while revenue is growing with a high pace, the segment is still not profitable and generated a loss of RMB 8,035 million in fiscal 2024. And not only is the segment not profitable, the adjusted EBITDA loss is much higher than in fiscal 2023.</p><h2 id=\"id_1140397339\">Dividend</h2><p>Alibaba also announced it will pay another annual dividend of $1.00 per ADS. And as many might be similar surprised as I was when I read this, there seems to be a simple explanation. The annual dividend paid in January 2024 was for the last fiscal year, while the dividend that will be paid to shareholders in July 2024 is for the next fiscal year. And aside from the ordinary dividend, the board has also approved a one-time extraordinary cash dividend of $0.66 per ADS (resulting from proceeds from disposition of certain financial investments). The ordinary and extraordinary dividend combined lead to a dividend yield of 1.9% for Alibaba at the time of writing. Alibaba will go ex-dividend on June 13, 2024.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/1c126d2a959419cc0c75adaf6690fc10\" alt=\"Alibaba Q4/23 Investor Presentation\" title=\"Alibaba Q4/23 Investor Presentation\" tg-width=\"640\" tg-height=\"359\"/><span>Alibaba Q4/23 Investor Presentation</span></p><p>So far, Alibaba is distributing only a small part of its free cash flow as dividend. Instead, the company is focusing on share buybacks and considering the extremely low share price (see section below) it makes sense to use as much cash as possible for share buybacks and not pay high dividends to shareholders.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/f851908d87fb341dd49983a136141aea\" alt=\"Data by YCharts\" title=\"Data by YCharts\" tg-width=\"635\" tg-height=\"424\"/><span>Data by YCharts</span></p><p>During the last quarter, Alibaba spent almost $5 billion on share buybacks and during the last fiscal year the company spent $12.5 billion. And since 2021, the number of outstanding shares (here we are looking at the ADS) declined from 2,755 million to 2,498 million.</p><h2 id=\"id_3750464043\">Intrinsic Value Calculation</h2><p>I already mentioned above that I consider share buybacks a good allocation of capital (at least right now) as the stock is (still) deeply undervalued. This becomes obvious when looking at the simple valuation metrics – the P/E ratio and P/FCF ratio. Right now, Alibaba is trading for 15 times earnings, which is already a low valuation multiple for a business still being able to grow at least in the mid-to-high single digits.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/18d114d50f46b98127ce7c69389a0b41\" alt=\"Data by YCharts\" title=\"Data by YCharts\" tg-width=\"635\" tg-height=\"439\"/><span>Data by YCharts</span></p><p>And when looking at the P/FCF ratio, it gets even more obvious how deeply undervalued Alibaba is. At the time of writing, the stock is trading for only 7.5 times free cash flow, which is ridiculous in my opinion. Even without Alibaba growing, this is an unjustified valuation multiple.</p><p>Aside from looking at simple valuation multiples, we can also calculate an intrinsic value by using a discount cash flow calculation. As always, we must make some assumptions for such a calculation. As a basis, we can take the free cash flow of the last four quarters, which was RMB 156,210 million and $21,635 million when looking at USD. And as we are comparing our intrinsic value to the ADR, which is trading on the New York Stock Exchange, it makes sense to calculate our intrinsic value in USD. Additionally, we calculate with 2,498 million outstanding shares. And as always, we use a 10% discount rate as this is the annual return I want to achieve (at least).</p><p>When calculating with these assumptions, Alibaba is more or less fairly valued even when the company is not able to grow its free cash flow ever again. Alibaba has a fair valued of $86.63 in such a scenario and is now trading for that price.</p><p>But we once again must point out that these assumptions are not very plausible. If we only assume 3% growth for Alibaba, we get an intrinsic value for Alibaba of $123.75 and the stock is undervalued. And when being even more optimistic and assume 6% growth from now till perpetuity, we get an intrinsic value of $216.57 for Alibaba. Of course, we can question if 6% growth is not too optimistic for Alibaba – especially over the long run. But the wide economic moat around the business should enable Alibaba to grow with such a high pace and past growth rates are also showing us that Alibaba is able to grow with a high pace (even in the last few years when the business was struggling). While operating income grew only 3.5% in the last three years, it grew with a CAGR of 7.93% in the last five years. And revenue grew with a CAGR of 19.45% in the last three years.</p><h2 id=\"id_1043046212\">Sentiment Changing</h2><p>I mentioned again and again in previous articles that Alibaba is undervalued – that is nothing new. But right now, there also seem to be several reasons to be optimistic.</p><p>A first reason to be optimistic are the other major Chinese technology companies and the stock performance of these companies. Not only did Alibaba’s stock price jump in the last few weeks, JD.com (JD) also increased in value after it declined steeply in the last few quarters. And Tencent (OTCPK:TCEHY) is now moving higher since the beginning of March 2024 and already increased 50% in about two and a half months.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/26170cfe361f04051e97c8c589fb0f19\" alt=\"Data by YCharts\" title=\"Data by YCharts\" tg-width=\"635\" tg-height=\"456\"/><span>Data by YCharts</span></p><p>And it is not only these individual stocks moving higher, but also major stock market indices in China. The Hang Seng Index for example bottomed in January 2024 and the index increased from about 15,000 points to about 19,500 points since then. And especially since mid-April the index really rallied. And the CSI-300 also bottomed in early February 2024 and has since then increased about 18% in value.</p><p>A second reason to be optimistic and bet on a sentiment change is the technical picture of Alibaba. When looking at the last few times after Alibaba reported earnings, the stock almost always declined in the weeks and months following earnings – as the overall sentiment was negative, and the stock just continued to decline. But following the last earnings, the picture changed (at least so far). While earnings were not so great (and the stock declined rather steeply during the trading day following earnings) the stock now continues to move higher – in line with a bullish sentiment.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/bbb2961327b8f8c46da5357281159544\" alt=\"TradingView\" title=\"TradingView\" tg-width=\"640\" tg-height=\"378\"/><span>TradingView</span></p><p>Of course, we are only looking at a few trading days following earnings, and it is too early to draw a conclusion. And before Alibaba is not able to move above $100, the stock is still in a bearish trend and we certainly should be cautious. Nevertheless, I am very optimistic that Alibaba found its bottom around $60.</p><p>And finally, in line with the changing sentiment, analysts also seem to have gotten more optimistic and positive. Of course, these are only very small positive changes, but it is the first-time analysts are getting more optimistic about revenue since 2021.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/8865911c52ea252639bf6fd336f6d081\" alt=\"Alibaba Consensus Revenue Revision Trend (Seeking Alpha)\" title=\"Alibaba Consensus Revenue Revision Trend (Seeking Alpha)\" tg-width=\"640\" tg-height=\"231\"/><span>Alibaba Consensus Revenue Revision Trend (Seeking Alpha)</span></p><h2 id=\"id_2792500878\">Conclusion</h2><p>I still see Alibaba deeply undervalued and from a fundamental point of view, I believe the stock could easily double. And now I not only see the stock as undervalued, but also see signs of sentiment changing – not only for Alibaba but the entire Chinese technology sector (and stock market). At this point, I would rate Alibaba as “strong bullish” as a deeply undervalued company is now meeting changing sentiment, and so I think we could see rising stock prices.</p><p>And I am still aware of the risk surrounding Alibaba. In previous articles I already mentioned several risks surrounding the company and stock, and in a 2021 article I talked about the high fines and the risk of political uncertainty. And in January 2022, I also talked about the fear of a delisting for BABA. A recently published article is summing up these risks quite well. But while I see similar issues and risks that should be considered, my conclusion is different. I still don’t think the Chinese government will risk its country becoming uninvestable and also not destroy its most valuable companies. In the end, I see the risk/reward relationship deeply in favor of a bullish Alibaba thesis.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba: Deep Undervaluation Meets Changing Sentiment</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAlibaba: Deep Undervaluation Meets Changing Sentiment\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-22 11:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4694604-alibaba-deep-undervaluation-meets-changing-sentiment><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Alibaba reported solid results in the last quarter and fiscal year with revenue and EPS increasing for the full year.The stock remains deeply undervalued, and when assuming only mid-single digit ...</p>\n\n<a href=\"https://seekingalpha.com/article/4694604-alibaba-deep-undervaluation-meets-changing-sentiment\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4526":"热门中概股","BK1501":"阿里概念股","BK4505":"高瓴资本持仓","BK4504":"桥水持仓","LU1105468828.SGD":"Allianz Total Return Asian Equity AM DIS H2-SGD","LU0348783233.USD":"安联东方收入型 CI A Dis美元","BK4550":"红杉资本持仓","BK4559":"巴菲特持仓","LU0084288322.USD":"Natixis Asia Equity RD USD","LU0348814723.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"A\" (USD) INC  NC","BK1608":"元宇宙概念","IE00BGV7N243.SGD":"FSSA Global Emerging Markets Focus I Acc SGD","LU0287142896.SGD":"Fidelity China Focus A-SGD","LU0054450605.USD":"HSBC GIF GLOBAL EMERGING MARKTS EQ \"AD\" INC","LU1688375341.USD":"贝莱德中国灵活股票基金","LU0051755006.USD":"摩根大通中国A (dist)","BK4558":"双十一","BK1575":"同股不同权","LU0029875118.USD":"TEMPLETON ASIAN GROWTH \"A\" INC","LU0130103400.USD":"Natixis Harris Associates Global Equity RA USD","LU0128522744.USD":"TEMPLETON EMERGING MARKETS \"A\" ACC","LU0106959298.USD":"UBS (LUX) EQUITY FUND - EMERGING MARKETS SUSTAINABLE LEADERS (USD) \"P\" (USD) ACC","LU1051768304.USD":"贝莱德新兴市场股票收益A6","LU0348816934.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT\" (USD)","BK1586":"云计算","BABA":"阿里巴巴","LU0251143458.SGD":"Fidelity Emerging Markets A-SGD","BK4220":"综合零售","BK4565":"NFT概念","BK1249":"综合零售","09988":"阿里巴巴-W","BK4538":"云计算","BK4077":"互动媒体与服务","BK4503":"景林资产持仓","IE0032431581.USD":"PINEBRIDGE GREATER CHINA EQUITY \"A\" (USD) ACC","LU0228659784.USD":"施罗德金砖四国基金"},"source_url":"https://seekingalpha.com/article/4694604-alibaba-deep-undervaluation-meets-changing-sentiment","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2437382481","content_text":"Alibaba reported solid results in the last quarter and fiscal year with revenue and EPS increasing for the full year.The stock remains deeply undervalued, and when assuming only mid-single digit growth rates, I believe the stock price could double.And aside from being deeply undervalued, we also see signs for sentiment changing regarding Alibaba and the Chinese stock market in general.Robert WayIn beginning this article about Alibaba Group Holding Limited I can make a rare statement and write a sentence I could seldom write in the past few years. Since my last article was published on February 15, 2024, Alibaba increased 18% and clearly outperformed the S&P 500 (SPY).Data by YChartsBut we should not obscure the fact that Alibaba is still trading way below its previous all-time high, and almost everyone who bought Alibaba in the last few years is still in the red. In my last article, I wrote that it is always darkest before the dawn, and it seems like the dawn has broken. In the following article, I will explain why I not only think Alibaba is (still) extremely undervalued, but also why I also see reasons to be optimistic regarding sentiment.Quarterly ResultsLast week, on May 14, 2024, Alibaba reported its fourth quarter results for fiscal 2024 and while the company beat revenue estimates by $310 million, non-GAAP earnings per share missed slightly by $0.02.When looking at the results, we could describe the last quarterly results as mixed. Revenue increased from RMB 208.2 billion in Q4/23 to RMB 221.9 billion in Q4/24 – resulting in 6.6% top line growth. And while income from operations increased slightly (3.2% year-over-year growth) from RMB 14,765 million in the same quarter last year to RMB 15,240 million this quarter, diluted earnings per share declined steeply. Instead of RMB 1.12 in the same quarter last year, the company reported only RMB 0.16 in earnings per share this quarter.Alibaba Q4/23 Investor PresentationAnd while a lot was written about the steeply declining net income this quarter, the explanation is quite simple. The reason for the decline was the interest and investment income, which was RMB 10,946 million in the same quarter last year and in the last quarter the company generated a loss of RMB 5,702 million in Q4/24. Warren Buffett pointed out long ago that it makes sense in such circumstances (a company having huge equity investments) to look at operating income instead to level out these fluctuations of equity investments. And Alibaba has RMB 220.9 billion in “equity securities and other investments” as well as RMB 203.1 billion in “investment in equity method investees”. Additionally, Alibaba has RMB 263.0 billion in short-term investments.Annual ResultsWe can also look at the annual results and revenue increased from RMB 868.7 billion in the previous year to RMB 941.2 billion in the fiscal 2024 – resulting in 8.3% year-over-year growth. Income from operations increased 13.0% YoY from RMB 100,351 million to RMB 113,350 million and diluted earnings per share increased 14.0% YoY from RMB 3.43 in the previous year last year to RMB 3.91 in fiscal 2024. While these are solid results, free cash flow – one of the most important metrics – declined from RMB 171,663 million in fiscal 2023 to RMB 156,210 million in fiscal 2024. This is a decline of 9.0% year-over-year.Segment ResultsAlibaba is a rather diversified business and with the holding company being split up into six business segments, it makes sense to take a closer look – especially as there seem to be two different kinds of business segments. On the one side the core business, which is responsible for a huge part of revenue and basically the entire EBITDA, and on the other side we have business segments which are often not profitable or are barely profitable but can grow at a high pace.Alibaba Q4/23 Investor PresentationThe most important segment is without any doubt the Taobao and Tmall Group. In fiscal 2024 it generated RMB 434,893 million in revenue and although revenue grew 5.2% year-over-year it can’t match the growth rates of other segments. Adjusted EBITDA increased only slightly from RMB 189,140 million in the previous year to RMB 194,827 million in fiscal 2024 – resulting in 3.0% growth, but the segment is generating more adjusted EBITDA than the Alibaba Group (as other segments are not profitable).Another segment that seems to belong in this category now is the Cloud Intelligence Group, which generated RMB 106,374 million in revenue and compared to the previous year this is only 2.8% year-over-year growth. And the segment generated RMB 6,121 million in adjusted EBITDA and compared to the previous fiscal year this results in 49.3% YoY growth. Compared to the Taobao and Tmall Group, which has an adjusted EBITDA margin of 44.8%, the Cloud Intelligence Group has only a margin of 5.8%.In fiscal 2024 revenue increased only in the low single digits for the segment, but as I already pointed out in my article Alibaba: Spin-Off as catalyst to unlock value we have reasons to assume higher growth rates again for the cloud business in the years to come as several studies assume growth rates in the double-digits.On the other hand, we have two segments which are growing with a rather high pace but are not really profitable yet. The Cainiao Smart Logistics Networks Limited generated RMB 99,020 million in revenue – an increase of 27.7% year-over-year growth in revenue. And for fiscal 2024, the segment was also profitable and generated an adjusted EBITDA of RMB 1,420 million (compared to a small loss in the previous year).And another segment growing with a high pace is Alibaba International Digital Commerce Group. In fiscal 2024 revenue increased 45.5% year-over-year to RMB 102,598 million. But while revenue is growing with a high pace, the segment is still not profitable and generated a loss of RMB 8,035 million in fiscal 2024. And not only is the segment not profitable, the adjusted EBITDA loss is much higher than in fiscal 2023.DividendAlibaba also announced it will pay another annual dividend of $1.00 per ADS. And as many might be similar surprised as I was when I read this, there seems to be a simple explanation. The annual dividend paid in January 2024 was for the last fiscal year, while the dividend that will be paid to shareholders in July 2024 is for the next fiscal year. And aside from the ordinary dividend, the board has also approved a one-time extraordinary cash dividend of $0.66 per ADS (resulting from proceeds from disposition of certain financial investments). The ordinary and extraordinary dividend combined lead to a dividend yield of 1.9% for Alibaba at the time of writing. Alibaba will go ex-dividend on June 13, 2024.Alibaba Q4/23 Investor PresentationSo far, Alibaba is distributing only a small part of its free cash flow as dividend. Instead, the company is focusing on share buybacks and considering the extremely low share price (see section below) it makes sense to use as much cash as possible for share buybacks and not pay high dividends to shareholders.Data by YChartsDuring the last quarter, Alibaba spent almost $5 billion on share buybacks and during the last fiscal year the company spent $12.5 billion. And since 2021, the number of outstanding shares (here we are looking at the ADS) declined from 2,755 million to 2,498 million.Intrinsic Value CalculationI already mentioned above that I consider share buybacks a good allocation of capital (at least right now) as the stock is (still) deeply undervalued. This becomes obvious when looking at the simple valuation metrics – the P/E ratio and P/FCF ratio. Right now, Alibaba is trading for 15 times earnings, which is already a low valuation multiple for a business still being able to grow at least in the mid-to-high single digits.Data by YChartsAnd when looking at the P/FCF ratio, it gets even more obvious how deeply undervalued Alibaba is. At the time of writing, the stock is trading for only 7.5 times free cash flow, which is ridiculous in my opinion. Even without Alibaba growing, this is an unjustified valuation multiple.Aside from looking at simple valuation multiples, we can also calculate an intrinsic value by using a discount cash flow calculation. As always, we must make some assumptions for such a calculation. As a basis, we can take the free cash flow of the last four quarters, which was RMB 156,210 million and $21,635 million when looking at USD. And as we are comparing our intrinsic value to the ADR, which is trading on the New York Stock Exchange, it makes sense to calculate our intrinsic value in USD. Additionally, we calculate with 2,498 million outstanding shares. And as always, we use a 10% discount rate as this is the annual return I want to achieve (at least).When calculating with these assumptions, Alibaba is more or less fairly valued even when the company is not able to grow its free cash flow ever again. Alibaba has a fair valued of $86.63 in such a scenario and is now trading for that price.But we once again must point out that these assumptions are not very plausible. If we only assume 3% growth for Alibaba, we get an intrinsic value for Alibaba of $123.75 and the stock is undervalued. And when being even more optimistic and assume 6% growth from now till perpetuity, we get an intrinsic value of $216.57 for Alibaba. Of course, we can question if 6% growth is not too optimistic for Alibaba – especially over the long run. But the wide economic moat around the business should enable Alibaba to grow with such a high pace and past growth rates are also showing us that Alibaba is able to grow with a high pace (even in the last few years when the business was struggling). While operating income grew only 3.5% in the last three years, it grew with a CAGR of 7.93% in the last five years. And revenue grew with a CAGR of 19.45% in the last three years.Sentiment ChangingI mentioned again and again in previous articles that Alibaba is undervalued – that is nothing new. But right now, there also seem to be several reasons to be optimistic.A first reason to be optimistic are the other major Chinese technology companies and the stock performance of these companies. Not only did Alibaba’s stock price jump in the last few weeks, JD.com (JD) also increased in value after it declined steeply in the last few quarters. And Tencent (OTCPK:TCEHY) is now moving higher since the beginning of March 2024 and already increased 50% in about two and a half months.Data by YChartsAnd it is not only these individual stocks moving higher, but also major stock market indices in China. The Hang Seng Index for example bottomed in January 2024 and the index increased from about 15,000 points to about 19,500 points since then. And especially since mid-April the index really rallied. And the CSI-300 also bottomed in early February 2024 and has since then increased about 18% in value.A second reason to be optimistic and bet on a sentiment change is the technical picture of Alibaba. When looking at the last few times after Alibaba reported earnings, the stock almost always declined in the weeks and months following earnings – as the overall sentiment was negative, and the stock just continued to decline. But following the last earnings, the picture changed (at least so far). While earnings were not so great (and the stock declined rather steeply during the trading day following earnings) the stock now continues to move higher – in line with a bullish sentiment.TradingViewOf course, we are only looking at a few trading days following earnings, and it is too early to draw a conclusion. And before Alibaba is not able to move above $100, the stock is still in a bearish trend and we certainly should be cautious. Nevertheless, I am very optimistic that Alibaba found its bottom around $60.And finally, in line with the changing sentiment, analysts also seem to have gotten more optimistic and positive. Of course, these are only very small positive changes, but it is the first-time analysts are getting more optimistic about revenue since 2021.Alibaba Consensus Revenue Revision Trend (Seeking Alpha)ConclusionI still see Alibaba deeply undervalued and from a fundamental point of view, I believe the stock could easily double. And now I not only see the stock as undervalued, but also see signs of sentiment changing – not only for Alibaba but the entire Chinese technology sector (and stock market). At this point, I would rate Alibaba as “strong bullish” as a deeply undervalued company is now meeting changing sentiment, and so I think we could see rising stock prices.And I am still aware of the risk surrounding Alibaba. In previous articles I already mentioned several risks surrounding the company and stock, and in a 2021 article I talked about the high fines and the risk of political uncertainty. And in January 2022, I also talked about the fear of a delisting for BABA. A recently published article is summing up these risks quite well. But while I see similar issues and risks that should be considered, my conclusion is different. I still don’t think the Chinese government will risk its country becoming uninvestable and also not destroy its most valuable companies. In the end, I see the risk/reward relationship deeply in favor of a bullish Alibaba thesis.","news_type":1},"isVote":1,"tweetType":1,"viewCount":312,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":295552576217216,"gmtCreate":1713166400879,"gmtModify":1713166404424,"author":{"id":"4093499725885820","authorId":"4093499725885820","name":"Huat小姐","avatar":"https://static.tigerbbs.com/1ea5840431390db7c8c784b53d27c048","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4093499725885820","authorIdStr":"4093499725885820"},"themes":[],"htmlText":"its time to slow down the market for local Singaporeans!&nbsp;","listText":"its time to slow down the market for local Singaporeans!&nbsp;","text":"its time to slow down the market for local Singaporeans!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/295552576217216","repostId":"1185531903","repostType":2,"repost":{"id":"1185531903","kind":"news","pubTimestamp":1713164410,"share":"https://ttm.financial/m/news/1185531903?lang=&edition=fundamental","pubTime":"2024-04-15 15:00","market":"sg","language":"en","title":"Singapore Home Sales Rise Most in Four Months on Launches","url":"https://stock-news.laohu8.com/highlight/detail?id=1185531903","media":"Bloomberg","summary":"Sales were helped by ‘one-off’ spurt from suburban projectHigh interest rates are likely to weigh on the recoveryLocal demand has helped to prop up residential values.Singapore home sales rose the mos","content":"<html><head></head><body><ul style=\"\"><li><p>Sales were helped by ‘one-off’ spurt from suburban project</p></li><li><p>High interest rates are likely to weigh on the recovery</p></li></ul><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/5033c2274d831f2daead710ad24e4e8d\" alt=\"Local demand has helped to prop up residential values.\" title=\"Local demand has helped to prop up residential values.\" tg-width=\"2000\" tg-height=\"1333\"/><span>Local demand has helped to prop up residential values.</span></p><p style=\"text-align: start;\">Singapore home sales rose the most in four months, rebounding from a lull after the launch of a range of suburban projects fueled purchases.</p><p style=\"text-align: start;\">Developers sold 718 private residential units in March, the most since November, figures from the Urban Redevelopment Authority showed on Monday. That’s more than the number of new homes sold in the previous three months combined.</p><p style=\"text-align: start;\">The question remains whether the recovery will be sustained in a market that has been cooling in recent months, hurt by high interest rates, an influx of supply and curbs that have curtailed demand from foreign buyers. The prospect of borrowing costs remaining higher for longer is likely to weigh on sales this year, according to real estate consultancy Knight Frank.</p><p style=\"text-align: start;\">“Much of 2024 might be characterized by muted sales with spikes of buying activity” when compelling projects are introduced, Leonard Tay, head of research at the firm in Singapore, wrote in a note.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/a11b70bd9460761fd10e12d4b45fa302\" tg-width=\"931\" tg-height=\"609\"/></p><p>New launches were a key driver of sales in March, with a suburban condominium project, Lentor Mansion, making up more than half of transactions.</p><p>Citigroup Inc. has said the strong take-up of the project is likely a “one-off,” while developers of high-end properties are increasingly introducing large discounts to sell off their inventories. That includes a condo on Sentosa, a resort island in Singapore’s south, where units are being offered at discounts over 40% from their initial launch price.</p><p style=\"text-align: start;\">Local demand has helped to prop up residential values. Private home prices climbed 1.5% in the first quarter from the previous three months, preliminary estimates showed earlier this month.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Home Sales Rise Most in Four Months on Launches</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Home Sales Rise Most in Four Months on Launches\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-15 15:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2024-04-15/singapore-home-sales-rise-most-in-four-months-on-new-launches><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Sales were helped by ‘one-off’ spurt from suburban projectHigh interest rates are likely to weigh on the recoveryLocal demand has helped to prop up residential values.Singapore home sales rose the ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-04-15/singapore-home-sales-rise-most-in-four-months-on-new-launches\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2024-04-15/singapore-home-sales-rise-most-in-four-months-on-new-launches","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185531903","content_text":"Sales were helped by ‘one-off’ spurt from suburban projectHigh interest rates are likely to weigh on the recoveryLocal demand has helped to prop up residential values.Singapore home sales rose the most in four months, rebounding from a lull after the launch of a range of suburban projects fueled purchases.Developers sold 718 private residential units in March, the most since November, figures from the Urban Redevelopment Authority showed on Monday. That’s more than the number of new homes sold in the previous three months combined.The question remains whether the recovery will be sustained in a market that has been cooling in recent months, hurt by high interest rates, an influx of supply and curbs that have curtailed demand from foreign buyers. The prospect of borrowing costs remaining higher for longer is likely to weigh on sales this year, according to real estate consultancy Knight Frank.“Much of 2024 might be characterized by muted sales with spikes of buying activity” when compelling projects are introduced, Leonard Tay, head of research at the firm in Singapore, wrote in a note.New launches were a key driver of sales in March, with a suburban condominium project, Lentor Mansion, making up more than half of transactions.Citigroup Inc. has said the strong take-up of the project is likely a “one-off,” while developers of high-end properties are increasingly introducing large discounts to sell off their inventories. That includes a condo on Sentosa, a resort island in Singapore’s south, where units are being offered at discounts over 40% from their initial launch price.Local demand has helped to prop up residential values. Private home prices climbed 1.5% in the first quarter from the previous three months, preliminary estimates showed earlier this month.","news_type":1},"isVote":1,"tweetType":1,"viewCount":210,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":244423790903456,"gmtCreate":1700697827488,"gmtModify":1700697831534,"author":{"id":"4093499725885820","authorId":"4093499725885820","name":"Huat小姐","avatar":"https://static.tigerbbs.com/1ea5840431390db7c8c784b53d27c048","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4093499725885820","authorIdStr":"4093499725885820"},"themes":[],"htmlText":"[捂脸]&nbsp;","listText":"[捂脸]&nbsp;","text":"[捂脸]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/244423790903456","repostId":"1186070747","repostType":2,"repost":{"id":"1186070747","kind":"news","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1700667842,"share":"https://ttm.financial/m/news/1186070747?lang=&edition=fundamental","pubTime":"2023-11-22 23:44","market":"sg","language":"en","title":"Thai Beverage Annual Profit Falls 9% on Weakness in Beer, Food Units","url":"https://stock-news.laohu8.com/highlight/detail?id=1186070747","media":"Reuters","summary":"Singapore-listed Thai Beverage reported an annual profit on Wednesday that fell nearly 9%, hurt by weakness in the company's beer and food businesses.Higher costs of raw materials and packaging, increased brand investment and competitive pressures weighed on the company's beer business, Thai Beverage said.The company's food business was impacted by higher operating expenses, administrative costs and pre-operating expenses related to opening of new stores, it said.Thai Beverage posted profit attr","content":"<html><head></head><body><p>Singapore-listed Thai Beverage reported an annual profit on Wednesday that fell nearly 9%, hurt by weakness in the company&#39;s beer and food businesses.</p><p style=\"text-align: start;\">Higher costs of raw materials and packaging, increased brand investment and competitive pressures weighed on the company&#39;s beer business, Thai Beverage said.</p><p>The company&#39;s food business was impacted by higher operating expenses, administrative costs and pre-operating expenses related to opening of new stores, it said.</p><p style=\"text-align: start;\">Thai Beverage posted profit attributable of 27.43 billion baht ($780.81 million) for the full year ended Sept. 30, compared with 30.11 billion baht a year earlier.</p><p style=\"text-align: start;\">The company&#39;s total revenue from sales and services rose to 279.09 billion baht from 272.36 billion baht.</p><p style=\"text-align: start;\">Thai Beverage proposed an annual dividend of 0.60 baht per share, in line with last year.</p><p style=\"text-align: start;\">($1 = 35.1300 baht)</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Thai Beverage Annual Profit Falls 9% on Weakness in Beer, Food Units</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThai Beverage Annual Profit Falls 9% on Weakness in Beer, Food Units\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2023-11-22 23:44</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Singapore-listed Thai Beverage reported an annual profit on Wednesday that fell nearly 9%, hurt by weakness in the company&#39;s beer and food businesses.</p><p style=\"text-align: start;\">Higher costs of raw materials and packaging, increased brand investment and competitive pressures weighed on the company&#39;s beer business, Thai Beverage said.</p><p>The company&#39;s food business was impacted by higher operating expenses, administrative costs and pre-operating expenses related to opening of new stores, it said.</p><p style=\"text-align: start;\">Thai Beverage posted profit attributable of 27.43 billion baht ($780.81 million) for the full year ended Sept. 30, compared with 30.11 billion baht a year earlier.</p><p style=\"text-align: start;\">The company&#39;s total revenue from sales and services rose to 279.09 billion baht from 272.36 billion baht.</p><p style=\"text-align: start;\">Thai Beverage proposed an annual dividend of 0.60 baht per share, in line with last year.</p><p style=\"text-align: start;\">($1 = 35.1300 baht)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"Y92.SI":"泰国酿酒"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1186070747","content_text":"Singapore-listed Thai Beverage reported an annual profit on Wednesday that fell nearly 9%, hurt by weakness in the company's beer and food businesses.Higher costs of raw materials and packaging, increased brand investment and competitive pressures weighed on the company's beer business, Thai Beverage said.The company's food business was impacted by higher operating expenses, administrative costs and pre-operating expenses related to opening of new stores, it said.Thai Beverage posted profit attributable of 27.43 billion baht ($780.81 million) for the full year ended Sept. 30, compared with 30.11 billion baht a year earlier.The company's total revenue from sales and services rose to 279.09 billion baht from 272.36 billion baht.Thai Beverage proposed an annual dividend of 0.60 baht per share, in line with last year.($1 = 35.1300 baht)","news_type":1},"isVote":1,"tweetType":1,"viewCount":315,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":297375035801856,"gmtCreate":1713630100552,"gmtModify":1713630104079,"author":{"id":"4093499725885820","authorId":"4093499725885820","name":"Huat小姐","avatar":"https://static.tigerbbs.com/1ea5840431390db7c8c784b53d27c048","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4093499725885820","authorIdStr":"4093499725885820"},"themes":[],"htmlText":"Singaporeans first . We dont need more population.","listText":"Singaporeans first . We dont need more population.","text":"Singaporeans first . We dont need more population.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/297375035801856","isVote":1,"tweetType":1,"viewCount":377,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9052367227,"gmtCreate":1655128328070,"gmtModify":1676535566375,"author":{"id":"4093499725885820","authorId":"4093499725885820","name":"Huat小姐","avatar":"https://static.tigerbbs.com/1ea5840431390db7c8c784b53d27c048","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4093499725885820","authorIdStr":"4093499725885820"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/Y92.SI\">$THAI BEVERAGE PUBLIC CO LTD(Y92.SI)$</a>can someone enlightened me on how to check for dividends paid pls ?","listText":"<a href=\"https://ttm.financial/S/Y92.SI\">$THAI BEVERAGE PUBLIC CO LTD(Y92.SI)$</a>can someone enlightened me on how to check for dividends paid pls ?","text":"$THAI BEVERAGE PUBLIC CO LTD(Y92.SI)$can someone enlightened me on how to check for dividends paid pls ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9052367227","isVote":1,"tweetType":1,"viewCount":571,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}