BABA-W (09988.HK)  -1.700 (-1.413%)    Short selling $869.49M; Ratio 9.268%   (BABA.US)      was expected to see its revenue growth slow to 2.4% YoY for 1FQ ending in June, CLSA said in its report, attributing this to the deconsolidation of SUNART RETAIL (06808.HK)  +0.100 (+4.184%)    Short selling $4.30M; Ratio 17.553%   and Intime.

Stripping off these factors, revenue was expected to grow by about 10%, with Taobao Tmall CMR expected to grow steadily by about 10%, and international retail and cloud business revenues expected to gain by approximately 20% and 22%, respectively.

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The broker estimated that the group's on-demand investment of approximately RMB10 billion will dent the 1FQ's adjusted EBITA down by 16.3% YoY to RMB37.7 billion, with the margin predicted to narrow by 3.4 ppts to 15.1%. The impact on the 2FQ could be even greater.

CLSA lowered Alibaba's adjusted net profit forecast for FY2026 by 25%, reduced the target price for U.S. stocks from USD165 to USD155, and downgraded the stock from High-Conviction Outperform to Outperform.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-07-24 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)