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<Research>JPM: BABA-W (09988.HK) Qwen Talent Loss Triggers ST Risk Premium
Recommend 28 Positive 51 Negative 31 |
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Chinese media reported that BABA-W (09988.HK)'s Qwen research team is undergoing significant structural changes, according to JPMorgan's research report. On 4 March, former technical lead Justin Lin announced his resignation on social media. The wave of departures also includes Bowen Yu, post-training lead, and Binyuan Hui, code model lead. JPMorgan viewed this as an execution risk premium on the narrative of 'Qwen as a long-term brand/ franchise', not an immediate investment thesis break, indicating an increased probability weight on disruption to the shipment pace and organizational output capacity in the short term, due to the unusually tight timing cluster of the wave of resignations. Therefore, the broker rated BABA-W's H-shares at Overweight, with a target price of $210. AASTOCKS Financial News Website: www.aastocks.com |
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