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Mint
5 days ago
- Business
- Mint
PDD Analysts See HK Listing as More Likely After Auditor Change
(Bloomberg) -- PDD Holdings Inc.'s move to switch to a Hong Kong-based auditor may indicate the Chinese e-commerce firm is preparing to apply for a second listing there, according to two analysts. The parent company of budget shopping app Temu said in a filing on Wednesday that it has tapped Hong Kong-based auditors of Ernst & Young for a review of its financial statements this year. The firm previously worked with Beijing-based Ernst & Young Hua Ming LLP. Such a shift likely suggests that PDD is pursuing a listing in Hong Kong over coming months, according to Citigroup analyst Alicia Yap. 'If this proves to be true, we believe this could be viewed as a positive catalyst for the share price,' she said. PDD did not immediately reply to an emailed request for comment outside of office hours. PDD's American depositary receipts rose as much as 5.6% to the highest in two months. The firm is among the relatively few US-listed Chinese names that have yet to list in Hong Kong, a group that also includes retailer Vipshop Holdings Ltd. and tutoring firm TAL Education Group. Companies like Alibaba Group Holding Ltd., Inc. and Baidu Inc. have already secured a second listing in Hong Kong amid persistent concerns that they could get booted off American exchanges. In April, US Treasury Secretary Scott Bessent said all options are 'on the table' when asked about potential delistings of Chinese companies. A second listing would potentially enable investors of Chinese firms to convert ADRs to Hong Kong shares in the event of a US delisting. Upgrading the Hong Kong listing to a primary status — like what Alibaba did last year — will also allow mainland buyers to tap into the stock. Felix Wang, an analyst at Hedgeye Risk Management, noted that companies preparing to list in Hong Kong often engage with local auditors to comply with regulatory requirements. That was the case for both Alibaba and when they sought Hong Kong listings, he said. 'One of the frustrations on PDD in the past is the company not interested in issuing a secondary IPO' to expand its investor base, Wang said in a note. 'Is PDD changing its mind on listing in HK? It can only help with investor sentiment.' More stories like this are available on
Yahoo
25-06-2025
- Business
- Yahoo
Citi Maintains Alibaba (BABA) Price Target and Buy Rating
Alibaba Group Holdings Limited (NYSE:BABA) is one of 10 AI stocks that will skyrocket. Alibaba Group Holdings Limited (NYSE:BABA) reported its strongest gross merchandise value (GMV) growth in three years during its annual 6.18 shopping festival, held from late May through mid-June. The performance has lifted market expectations for a rebound in the company's core marketing revenue (CMR) for the June quarter, the first quarter of its fiscal 2026. An e-commerce platform displaying a wide range of products to customers online. The 6.18 festival, one of China's largest mid-year shopping events, serves as a key indicator of consumer sentiment and platform activity. According to Citigroup analyst Alicia Yap, the results were 'encouraging' and suggest Alibaba's e-commerce operations may be regaining momentum following several quarters of muted growth. Yap reaffirmed her Buy rating on Alibaba Group Holdings Limited (NYSE:BABA) and maintained a $169 price target, which implies nearly 50% upside from current trading levels. She noted that the strong GMV results could support a positive surprise in CMR performance, which remains a critical driver of Alibaba's profitability. While macroeconomic uncertainties and regulatory overhangs have weighed on Chinese tech stocks, the 6.18 results offer a potential turning point for investor sentiment. Analysts will be closely watching Alibaba's earnings for further signs of a sustained recovery in its core commerce segment. While we acknowledge the potential of BABA to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BABA and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 10 Best Small Cap Tech Stocks With Biggest Upside Potential and 7 Most Popular AI Penny Stocks Under $5 To Avoid. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
24-06-2025
- Business
- Yahoo
Citi: Alibaba Stock Could Surge 50% After Blockbuster 6.18 Festival
June 23 Alibaba (NYSE:BABA) may see a lift in core marketing revenue after reporting its strongest growth in gross merchandise value (GMV) in three years during the recent 6.18 shopping event, according to a Sunday note from Citigroup (NYSE:C). Citi analyst Alicia Yap reaffirmed her "Buy" rating on the stock with a price target of $169, projecting nearly 50% upside from current levels. She said the latest festival results, combined with upbeat retail trends in April and May, could push Q1 FY26 revenue growth beyond current estimates. Warning! GuruFocus has detected 3 Warning Signs with BABA. Tmall President Liu Bo said GMV rose 10% year-over-year, highlighting robust merchant sales. He credited China's trade-in subsidy policy and immediate 10% price discounts as key drivers, which helped improve conversion and reduce returns. The 6.18 event spanned late May to mid-June. Yap noted early traction from Alibaba's Taobao Quick Commerce and emphasized that AliExpress showed strong global engagement, with livestreams attracting hundreds of thousands of users and some products selling out in markets like the UK and Australia. The company is now positioning for its next major event, Singles' Day on Nov. 11, by doubling down on high-quality growth strategies. This report reflects optimism around Alibaba's rebound as it sharpens its domestic and international e-commerce focus. This article first appeared on GuruFocus.
Yahoo
24-06-2025
- Business
- Yahoo
Citi: Alibaba Stock Could Surge 50% After Blockbuster 6.18 Festival
June 23 Alibaba (NYSE:BABA) may see a lift in core marketing revenue after reporting its strongest growth in gross merchandise value (GMV) in three years during the recent 6.18 shopping event, according to a Sunday note from Citigroup (NYSE:C). Citi analyst Alicia Yap reaffirmed her "Buy" rating on the stock with a price target of $169, projecting nearly 50% upside from current levels. She said the latest festival results, combined with upbeat retail trends in April and May, could push Q1 FY26 revenue growth beyond current estimates. Warning! GuruFocus has detected 3 Warning Signs with BABA. Tmall President Liu Bo said GMV rose 10% year-over-year, highlighting robust merchant sales. He credited China's trade-in subsidy policy and immediate 10% price discounts as key drivers, which helped improve conversion and reduce returns. The 6.18 event spanned late May to mid-June. Yap noted early traction from Alibaba's Taobao Quick Commerce and emphasized that AliExpress showed strong global engagement, with livestreams attracting hundreds of thousands of users and some products selling out in markets like the UK and Australia. The company is now positioning for its next major event, Singles' Day on Nov. 11, by doubling down on high-quality growth strategies. This report reflects optimism around Alibaba's rebound as it sharpens its domestic and international e-commerce focus. This article first appeared on GuruFocus.
Yahoo
23-06-2025
- Business
- Yahoo
Citi: Alibaba Stock Could Surge 50% After Blockbuster 6.18 Festival
June 23 Alibaba (NYSE:BABA) may see a lift in core marketing revenue after reporting its strongest growth in gross merchandise value (GMV) in three years during the recent 6.18 shopping event, according to a Sunday note from Citigroup (NYSE:C). Citi analyst Alicia Yap reaffirmed her "Buy" rating on the stock with a price target of $169, projecting nearly 50% upside from current levels. She said the latest festival results, combined with upbeat retail trends in April and May, could push Q1 FY26 revenue growth beyond current estimates. Warning! GuruFocus has detected 3 Warning Signs with BABA. Tmall President Liu Bo said GMV rose 10% year-over-year, highlighting robust merchant sales. He credited China's trade-in subsidy policy and immediate 10% price discounts as key drivers, which helped improve conversion and reduce returns. The 6.18 event spanned late May to mid-June. Yap noted early traction from Alibaba's Taobao Quick Commerce and emphasized that AliExpress showed strong global engagement, with livestreams attracting hundreds of thousands of users and some products selling out in markets like the UK and Australia. The company is now positioning for its next major event, Singles' Day on Nov. 11, by doubling down on high-quality growth strategies. This report reflects optimism around Alibaba's rebound as it sharpens its domestic and international e-commerce focus. This article first appeared on GuruFocus. Sign in to access your portfolio
