Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Alibaba Group Holding Limited has reportedly offered $1.5 billion to acquire Pupu Supermarket, a Fujian-based fresh grocery delivery platform, in a move that could intensify its competition with Meituan and JD.com across China’s local commerce market.</li><li>The reported bid is materially above the earlier $600 million offer from Gao Xin Retail, indicating how scarce and strategically important independent fresh retail assets have become.</li><li>Pupu operates a 30-minute delivery model across multiple cities in four provinces and reportedly generates more than RMB 30 billion in annual revenue, giving Alibaba a potential route to deepen its presence in fresh grocery, quick commerce, and local living.</li></ul>

Alibaba Group Holding Limited has reportedly offered $1.5 billion to acquire Pupu Supermarket, a Fujian-based fresh grocery delivery platform, in a move that could intensify its competition with Meituan and JD.com across China’s local commerce market.The reported bid is materially above the earlier $600 million offer from Gao Xin Retail, indicating how scarce and strategically important independent fresh retail assets have become.Pupu operates a 30-minute delivery model across multiple cities in four provinces and reportedly generates more than RMB 30 billion in annual revenue, giving Alibaba a potential route to deepen its presence in fresh grocery, quick commerce, and local living.

Alibaba’s Possible Pupu Takeover for $1.5 Billion Grocery Could Reshape China Commerce!

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Thematic (Sector/Industry)

<ul>
<li>OpenAI's private funding and burn disclosures reset IPO timing, while Anthropic added Nasdaq, profitability and revenue markers ahead of listing.</li>
<li>China labs shipped faster domestic-chip inference, cheaper multimodal pricing, coding-agent tools and Kimi distribution on AWS Bedrock.</li>
<li>AI infrastructure financing stayed active across data centers, power equipment, custom chips, memory and startup funding.</li>
</ul>


OpenAI's private funding and burn disclosures reset IPO timing, while Anthropic added Nasdaq, profitability and revenue markers ahead of listing.
China labs shipped faster domestic-chip inference, cheaper multimodal pricing, coding-agent tools and Kimi distribution on AWS Bedrock.
AI infrastructure financing stayed active across data centers, power equipment, custom chips, memory and startup funding.


This Week in AI (Sep 13-19): OpenAI Delays IPO Hopes; AI Slowdown Debate Hits Markets

<ul><li>Alibaba Group’s latest quarterly and full fiscal year 2026 results reflect an 11% year-over-year revenue growth, driven primarily by significant advancements in its AI and cloud computing divisions along with improved consumption business metrics.</li><li>The Cloud Intelligence Group exhibited accelerated external revenue growth of 40%, maintaining triple-digit growth in AI-related product revenue for the 11th consecutive quarter.</li><li>AI-related products now represent 30% of the group’s cloud revenue, with expectations to surpass 50% within a year, signaling a notable shift from traditional cloud services to AI-driven offerings such as models, AI compute, and agent services.</li></ul>

Alibaba Group’s latest quarterly and full fiscal year 2026 results reflect an 11% year-over-year revenue growth, driven primarily by significant advancements in its AI and cloud computing divisions along with improved consumption business metrics.The Cloud Intelligence Group exhibited accelerated external revenue growth of 40%, maintaining triple-digit growth in AI-related product revenue for the 11th consecutive quarter.AI-related products now represent 30% of the group’s cloud revenue, with expectations to surpass 50% within a year, signaling a notable shift from traditional cloud services to AI-driven offerings such as models, AI compute, and agent services.

Alibaba Group’s RMB 30 Billion AI Run-Rate Push: A New Cloud Powerhouse?

Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Derivatives

<ul>
<li>
Context: Over the past five trading days, <a href="https://www.smartkarma.com/entities/alibaba-group-holding-limited" target="_blank" data-smartkarma-citation="entities:28434:1" rel="noopener">Alibaba (9988 HK)</a> multi-leg option strategies showcased a variety of approaches. Strategy highlights are provided.</li>
<li>
Highlights: A wide iron condor reflects expectations for continued consolidation near Alibaba’s 50-day moving average.</li>
<li>
Why read: This breakdown of complex option strategies sheds light on market sentiment and positioning. Detailed examples provide actionable insights that could inspire similar strategies,</li>
</ul>



Context: Over the past five trading days, Alibaba (9988 HK) multi-leg option strategies showcased a variety of approaches. Strategy highlights are provided.

Highlights: A wide iron condor reflects expectations for continued consolidation near Alibaba’s 50-day moving average.

Why read: This breakdown of complex option strategies sheds light on market sentiment and positioning. Detailed examples provide actionable insights that could inspire similar strategies,


Alibaba (9988 HK) Top Trades: Bullish Bias and Long Volatility Dominate

<ul><li>Alibaba Group Holding Limited is trying to turn one of China’s biggest technology constraints into a new growth story.</li><li>The company’s latest Zhenwu M890 AI chip is not just another semiconductor announcement; it is part of a broader attempt to reduce reliance on Nvidia, control more of its own compute supply chain, and build a full-stack AI ecosystem around chips, cloud, models, and applications.</li><li>This comes at a time when U.S. export restrictions have limited access to advanced foreign chips, while Chinese enterprises are accelerating AI adoption across coding, finance, autonomous driving, commerce, and workplace automation.</li></ul>

Alibaba Group Holding Limited is trying to turn one of China’s biggest technology constraints into a new growth story.The company’s latest Zhenwu M890 AI chip is not just another semiconductor announcement; it is part of a broader attempt to reduce reliance on Nvidia, control more of its own compute supply chain, and build a full-stack AI ecosystem around chips, cloud, models, and applications.This comes at a time when U.S. export restrictions have limited access to advanced foreign chips, while Chinese enterprises are accelerating AI adoption across coding, finance, autonomous driving, commerce, and workplace automation.

Alibaba Wants To Break Free From Nvidia — And China Is Watching!

China

Alibaba Group Holding Limited is a Chinese multinational technology company specializing in e-commerce, retail, internet, and technology, offering C2C, B2C, and B2B sales services through various marketplaces. It also provides digital media and entertainment, logistics, and cloud computing services. The company was founded in Hangzhou, China, in 1999.

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Alibaba (9988 HK)

Alibaba’s Possible Pupu Takeover for $1.5 Billion Grocery Could Reshape China Commerce!

Alibaba Group Holding Limited has reportedly offered $1.5 billion to acquire Pupu Supermarket, a Fujian-based fresh grocery delivery platform, in...

Baptista Research

This Week in AI (Sep 13-19): OpenAI Delays IPO Hopes; AI Slowdown Debate Hits Markets

This week in AI: OpenAI pushed IPO expectations beyond 2026, the AI slowdown debate reached markets and policy, and Chinese labs kept shipping models.

Ke Yan, CFA, FRM

Alibaba Group’s RMB 30 Billion AI Run-Rate Push: A New Cloud Powerhouse?

Alibaba Group’s latest quarterly and full fiscal year 2026 results reflect an 11% year-over-year revenue growth, driven primarily by significant...

Baptista Research

Alibaba (9988 HK) Top Trades: Bullish Bias and Long Volatility Dominate

This breakdown of Alibaba’s option strategies offers insights into market sentiment and potential trading strategies. The trades show a modest...

Gaudenz Schneider

Alibaba Wants To Break Free From Nvidia — And China Is Watching!

Alibaba Group Holding Limited is trying to turn one of China’s biggest technology constraints into a new growth story. The company’s latest Zhenwu...

Baptista Research

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