Alibaba Group Holding Limited (BABA)
262.72 +1.34 (0.51%)
Before hours: 5:17AM EST
| Previous close | 258.62 |
| Open | 263.62 |
| Bid | 0.00 x 800 |
| Ask | 262.37 x 1400 |
| Day's range | 257.85 - 265.20 |
| 52-week range | 169.95 - 319.32 |
| Volume | 17,678,281 |
| Avg. volume | 26,785,522 |
| Market cap | 720.366B |
| Beta (5Y monthly) | 0.99 |
| PE ratio (TTM) | 28.08 |
| EPS (TTM) | 9.31 |
| Earnings date | 02 Feb 2021 |
| Forward dividend & yield | N/A (N/A) |
| Ex-dividend date | N/A |
| 1y target est | 324.06 |
- Bloomberg
Didi Is Close to Raising $1.5 Billion for Trucking Unit
(Bloomberg) -- Didi Chuxing Technology Co. is close to finalizing a $1.5 billion round of funding for its on-demand trucking unit from investors including Temasek Holdings Pte, surpassing its fundraising target as investors count on a Chinese economic recovery to fuel shipping.Jack Ma’s Yunfeng Capital and IDG Capital will join the financing for Didi Freight, an Uber-like trucking service, a person with knowledge of the matter said. Other investors in the unit’s debut round include the investment arm of real estate giant Country Garden Holdings Co., a unit of CITIC and Hidden Hill Capital, the person said, asking not to be identified discussing a private deal. The total amount exceeded its target of about $400 million by several-fold.China’s economy roared back to pre-pandemic growth rates in the fourth quarter after its industrial engines fired up to meet surging demand for exports. That boom is straining a domestic logistics network already taxed by a post-Covid 19 resurgence in e-commerce. Startups like Full Truck Alliance -- backed by SoftBank Group Corp. -- and tech giants such as Alibaba Group Holding Ltd. are now introducing technology to try and streamline the shipping process, connecting merchants with truckers and delivery firms.Read more: Didi’s Logistics Arm Was Said to Seek $400 Million in Debut FundingDidi first launched its on-demand logistics service in Chengdu and Hangzhou in June and has since expanded to eight cities, handling more than 100,000 orders daily on average. Backed by Tencent Holdings Ltd. and SoftBank, the Chinese startup is taking on larger rivals including Full Truck Alliance -- known by its Chinese name Manbang -- and Huolala in an already crowded market. Huolala raised $515 million from investors including Sequoia and Hillhouse. Full Truck Alliance raised $1.7 billion from investors including SoftBank and Tencent about a month before that.Didi Freight represents one of the key growth initiatives for a ride-hailing giant seeking to diversify from its traditional business. Didi is also ramping up its autonomous driving unit as well as robo-taxi service. A company representative had no immediate comment on the latest fundraising in an email.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
- Bloomberg
Tencent Shares Tumble After Approaching $1 Trillion Valuation
(Bloomberg) -- Tencent Holdings Ltd. slumped after a world-beating surge in the stock pushed its market value to the cusp of $1 trillion for the first time.The Chinese Internet behemoth lost 6.3% in Hong Kong on Tuesday, putting its market capitalization below $890 billion. Traders took profit after Monday’s 11% rally, which was Tencent’s biggest in almost a decade. Adding to the caution were comments by an adviser to China’s central bank at a conference, reported by local media, indicating that excessive liquidity was creating asset bubbles.Read more: China Asset-Bubble Warning Threatens Stock Frenzy in Hong KongThousands of bullish Tencent options lost almost all their value, after some surged as much as 118,300% on Monday. The frenzy in derivatives trading pushed the cost of one-month Tencent options to the highest since March 2014 relative to those tracking the Hong Kong benchmark, according to data compiled by Bloomberg.The prospect that China will tighten funding conditions threatens to derail Tencent’s stock rally, which has been underpinned by a relentless flow of capital from the mainland. Onshore funds have purchased a record amount of Hong Kong shares this month, with about a quarter of that targeting Tencent. As more than a billion people use its WeChat social-media platform, Tencent is ubiquitous to Chinese investors who have no access to Hong Kong shares of rival Alibaba Group Holding Ltd. through the trading links.Tencent was the most recent mega-cap company to benefit from investor enthusiasm for the tech sector, with its looming milestone a marker for the euphoria sweeping the stocks globally. Before Tuesday, the stock had added $251 billion in January alone -- by far the biggest creation of shareholder wealth worldwide. Warnings are rising that easy monetary policy is fueling bubbles in global equities, especially in the U.S., where gains have been led by the Nasdaq.As investors seek cheaper alternatives, they’ve been piling into Hong Kong equities. That’s helped make the Hang Seng China Enterprises Index one of the world’s best-performing benchmarks in the past month.While Tencent has long been an investor favorite in Asia, returning more than 100,000% since its 2004 initial public offering as of Monday, there are other risks to the rally.In 2018, a government crackdown on China’s online gaming industry squeezed Tencent’s most profitable business, which at the time accounted for about 40% of its revenue. Coupled with a slowing Chinese economy and a weakening yuan, Beijing’s nine-month halt on approvals for new games contributed to a 22% slump in the shares.A campaign against monopolistic practices since late last year has targeted many of the industries in which Tencent and rival Alibaba operate, including the online payments industry. But while increasing regulatory risk has left Alibaba’s shares about 18% lower than their October peak, Tencent has closed at a record in seven of the past nine sessions.Tencent would be the second Chinese firm to join the trillion-dollar club after PetroChina Co., which was briefly worth more than that in late 2007 before collapsing in value. U.S. tech giants Apple Inc., Amazon.com Inc., Alphabet Inc. and Microsoft Corp. are also worth more than $1 trillion each, as is Saudi Arabian Oil Co.Tencent was founded in 1998 by four college classmates and a friend from Shenzhen who devised a Chinese version of the instant messaging service ICQ. Led by “Pony” Ma Huateng -- ma is Chinese for “horse” -- the company’s chat software became the primary communication tool for a generation of young Chinese.Tencent’s surge has outpaced all but the most bullish analysts’ forecasts. The stock’s closing level of HK$766.50 on Monday was almost 10% higher than the consensus 12-month price target compiled by Bloomberg, the widest gap since 2014.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
- Bloomberg
From Pony Ma to Jack Ma, the Rich Win Big With Wild H.K. Stocks
(Bloomberg) -- Pony Ma got $6.9 billion richer on Monday after one of the companies his Tencent Holdings Ltd. backs revealed its IPO plans, while Jack Ma’s public reappearance Wednesday added $1.6 billion to his net worth.Even though the Hong Kong market has proved particularly volatile lately -- the benchmark Hang Seng Index gave up all of of its Monday gain on Tuesday -- it’s been one of the world’s highlights this month.Tencent and Alibaba Group Holding Ltd., along with food-delivery giant Meituan and carmaker Geely Automobile Holdings Ltd., were among the stocks helping propel the rally. Their top executives have made a combined $32 billion this month through Monday, and they’re not the only ones benefiting, according to the Bloomberg Billionaires Index.The Top 10 richest moguls with companies that have a primary listing in Hong Kong have added more than $60 billion of wealth in January -- or $3.8 billion for each trading day. This doesn’t include Jack Ma, whose Alibaba trades in Hong Kong but has its primary listing is in New York. His net worth is up $3.5 billion this month to $54.1 billion as he resurfaced in a video after weeks of speculation about his whereabouts following a Chinese government clampdown that had left his business empire in crisis.Read more: Jack Ma’s Video Chat Prompts a $58 Billion Sigh of ReliefEven China Evergrande Group’s Hui Ka Yan, whose net worth sank more than anyone elese’s in Asia last year, has regained $2.6 billion in 2021. His electric-vehicle startup said Sunday it’s selling HK$26 billion ($3.35 billion) of shares, triggering a 52% surge in the stock.While Hong Kong’s economy got badly hit from the coronavirus crisis and a political crackdown, money has kept flowing to the city. Mainlanders taking advantage of bargain prices after international investors were forced to dump some newly banned Chinese stocks have helped boost the market, just as concerns over stricter regulatory rules governing internet giants in China have eased. At the same time, companies linked to Chinese consumers -- like Meituan -- have benefited as the nation was one of the few able to control the Covid-19 pandemic and the government has pledged to increase consumption.The Hang Seng Index soared 11% in January through Monday, when it hit its highest level since June 2018. It fell 2.6% on Tuesday.Pony Ma’s $18.6 billion wealth surge this month is the biggest after Elon Musk’s, while Tencent co-founder Zhang Zhidong has gained $8.5 billion. Zhong Shanshan of bottled-water maker Nongfu Spring Co., who became Asia’s richest person at the end of 2020 and started the year by taking Warren Buffett’s spot as the world’s sixth wealthiest, has added $16.2 billion in 2021. Meituan’s Wang Xing has amassed $7.8 billion.Xiaomi Corp.’s Lei Jun is the only major tycoon whose net worth has dropped in January. The U.S. blacklisted the smartphone maker in an unexpected move that sank its shares a record 10% on Jan. 15.(Updates for market move in second, seventh paragraphs)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
