China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

Alibaba's C4Q24 Result Says the Inflection Point of Chinese AI Has Arrived for the Capital Markets

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Blue Lotus Non US Internet research, Blue Lotus Research Institute

Ying Pan

Blue Lotus Non US Internet research

Equity Bottom-Up

Alibaba Group Holding  / Equity Bottom-Up

<ul>
<li>Alibaba reported C4Q24 top line in-line with our estimate and consensus, but non-GAAP NI beat our estimate/consensus by 12%/11%, attributable to cost control and AntFin's profitability improvement;</li>
<li>But what drives the stock was the strong performance in AliCloud and an articulation of a clear investment logic on Generative AI (GAI), </li>
<li>While the AI inflection point has arrived earlier than we expected, we remain eying for the domestic e-commerce turnaround with Jiang Fan at the helms. </li>
</ul>


Alibaba reported C4Q24 top line in-line with our estimate and consensus, but non-GAAP NI beat our estimate/consensus by 12%/11%, attributable to cost control and AntFin's profitability improvement;
But what drives the stock was the strong performance in AliCloud and an articulation of a clear investment logic on Generative AI (GAI), 
While the AI inflection point has arrived earlier than we expected, we remain eying for the domestic e-commerce turnaround with Jiang Fan at the helms. 


[Alibaba (BABA US,BUY, TP US$150) TP Change]: AI’s Inflection Point Arrived, Will E-Commerce’s Also?