Alibaba shares rise 11% in Hong Kong after Star Earnings While Chinese E-Transport Sector Recovery
The Alibaba office building was seen in Nanjingu, Jiangsu Province, China, August 28, 2024.
Cfoto | Future publication | Getty Images
Alibaba Shares rose to Hong Kong on Friday Following stellar quarterly resultsIncreased by the growth of cloud intelligence and e-commerce segments.
The shares of Chinese technological giant rose as much as 11% and the last stores are 9.18% more.
“We expect the prospects for Baba’s e-commerce business to remain strong in 1HCY25F, guided by constant subsidies for trade,” Nomura said in a note on Friday.
IN An attempt to encourage consumptionLast July, the cinema discovered plans to extract 300 billion Juan ($ 41.5 billion) in Ultra long special government bonds to improve its current policy of trade and equipment upgrade.
Domestic e-trade growth is recovered by sustainable growth and profit, and the total mood increases the wider Chinese technology sector, Vey Sern Ling, a senior CNB Council advisor, CNBC said at the CNBC email.
Chinese technological supplies have mostly narrowed since AI startup Deep entered the forefront, causing AI ecosystem under the leadership of the US with its R1 model due to requests for superior performance and significantly lower costs.
The next three -year period is likely to be one period in which Alibaba makes the most concentrated investment in AI and Cloud Infrastructure.
Jack Ma, founder of Alibaba, who has been out of the reflector since 2020, participated in UA Rarely private meeting hosts Chinese President XI Jinping on Monday. During the session, Xi encouraged private companies to “show their abilities” and reinforce their trust in the “new era” for their business.
Alibaba has become a target of intense regulatory action of Beijing, which began in 2020 When the company’s Financial Technology Company forced regulators to cancel their initial public offer.
Alibaba Hong Kong counted the shares year after year
Alibaba has reached “significant steps” in promoting its AI Cloud Business after launching its Qwen 2.5-Max Flagship AI Foundation model, Barclays wrote in note, at 70% of their new demand.
“However, great opportunities often require significant investment,” Barclays said.
“The next three -year period is likely to be one period in which Alibaba brings the most concentrated investment in AI and Cloud infrastructure of installation,” said Barclays analysts, adding that his planned investment is ready to be more than what technology technology has spent over the last 10 years In combination, which is almost 270 billion.
On Thursday, the company reported a net revenue of 48.945 billion Juan ($ 6.72 billion) for a quarter that ended on December 31, surpassing LSEG estimates of 40.6 billion Juan and more than three times over 14.4 billion Yuana in the same period last year.
Alibaba’s revenues of 280.15 billion Juan were also above the expectations of analysts of 279.34 billion Juan.
The company’s shares listed in the United States jumped on Thursday more than 8% after the announcement of the results.
– CNBC -Ove Ruxandra Iordache, Evelyn Cheng and Anniek Bao contributed to this report.
