Independent TMT Analyst

Edison Lee, CFA

Equity Bottom-Up

Alibaba Group Holding  / Equity Bottom-Up

<ul>
<li>Alibaba will announce its 1QFY17 (Apr to Jun 2016) results on Aug 11 (Thurs). We expect its results to be strong, given 37% YoY growth in e-Commerce revenue reported by the government for the June quarter. However, the announcement will feature new disclosures and newly consolidated businesses, which may make comparison with consensus forecast difficult.</li>
<li>The company will no longer disclose its GMV figures every quarter. Those numbers will be given out only at the end of each fiscal year…</li>
</ul>


Alibaba will announce its 1QFY17 (Apr to Jun 2016) results on Aug 11 (Thurs). We expect its results to be strong, given 37% YoY growth in e-Commerce revenue reported by the government for the June quarter. However, the announcement will feature new disclosures and newly consolidated businesses, which may make comparison with consensus forecast difficult.
The company will no longer disclose its GMV figures every quarter. Those numbers will be given out only at the end of each fiscal year…


Alibaba 1QFY17 Results Preview - Focus on Revenue Growth, and Trend of Losses at Subsidiaries

<ul>
<li>The PBOC is tightening its control over online payment platforms. Owing to the strict requirement to implement the "real name basis" for every third-party online payment account, <a href="https://www.smartkarma.com/entities/26" target="_blank" data-smartkarma-citation="entities:26:1">Tencent Holdings Ltd (700 HK)</a>'s WePay platform has been reportedly forced to close down 3,000 merchants' online payment function.</li>
<li>A significant e-Commerce platform has developed on the back of Tencent's QQ, Weixin and WeChat services, utilizing the "Circle of Friends" functionality and Tencent's WePay system. However…</li>
</ul>


The PBOC is tightening its control over online payment platforms. Owing to the strict requirement to implement the "real name basis" for every third-party online payment account, Tencent Holdings Ltd (700 HK)'s WePay platform has been reportedly forced to close down 3,000 merchants' online payment function.
A significant e-Commerce platform has developed on the back of Tencent's QQ, Weixin and WeChat services, utilizing the "Circle of Friends" functionality and Tencent's WePay system. However…


China Internet - Downside Risk for 2H16 Driven by Tightened Regulations on Online Payment and News

China

Sohu.com Limited operates as an online media search and game service group company. The Company provides online brand advertising services on personal computers and mobile devices. Sohu.com serves clients in the People's Republic of China.

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Sohu.com (SOHU US)

Alibaba 1QFY17 Results Preview - Focus on Revenue Growth, and Trend of Losses at Subsidiaries

Alibaba will announce its 1QFY17 (Apr to Jun 2016) results on Aug 11 (Thurs). We expect its results to be strong, given 37% YoY growth in...

Edison Lee, CFA

China Internet - Downside Risk for 2H16 Driven by Tightened Regulations on Online Payment and News

The PBOC is tightening its control over online payment platforms. Owing to the strict requirement to implement the "real name basis" for every...

Edison Lee, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)