|Bid||167.89 x 800|
|Ask||167.93 x 1000|
|Day's range||167.36 - 170.47|
|52-week range||129.77 - 206.00|
|Beta (3Y monthly)||1.85|
|PE ratio (TTM)||48.13|
|Earnings date||21 Aug 2019 - 26 Aug 2019|
|Forward dividend & yield||N/A (N/A)|
|1y target est||217.23|
China’s benchmark Shanghai Composite Index is having a good week. The index rose 2.4% on June 20 to an eight-week high. The index rose in the first half of the day and reached the day’s high.
BEIJING/HANGZHOU, China (Reuters) - In China, the sales maxim of 'know your customer' is being taken to new lengths. One of the first firms to join an Alibaba Group Holding Ltd programme that provides years of consumer shopping history, snack food chain Bestore Co Ltd plans to link facial recognition technology with the e-commerce giant's account data by the year's end. For customers opting to have their facial data in Bestore's systems, that means shop assistants will be able to check on what food they like the moment they enter one of its stores.
Alibaba Group’s (BABA) Taobao and Tmall shattered multiple records during this year’s “6.18 Mid-Year Shopping Festival,” sating a rising demand from consumers in less-developed cities for quality products. Innovative marketing campaigns and tools provided by Alibaba’s core platforms during the 18-day campaign helped more than 110 brands each generate gross merchandise volume in excess of RMB100 million. Popular among brands of all sizes, Taobao livestreaming helped generated GMV of more than RMB13 billion.
Baillie Gifford partner Richard Sneller also shares insights on Russia, Brazil, Argentina and rising demand for oil.
(Bloomberg) -- SoftBank Group Corp. founder Masayoshi Son is trying harder than ever to convince investors of the potential for his many technology investments.At a general shareholders’ meeting in Tokyo on Wednesday, Son shared some predictions that were eye-popping even by the standards of the outspoken Japanese billionaire. The value of SoftBank’s investment portfolio could grow 33-fold to 200 trillion yen ($1.8 trillion) in 20 years, he said. That’s an annual growth rate of 19%. The numbers were so outlandish that Son had to add a caveat.“Let me be clear that this is not a business plan,” he said. “It’s a tall tale.”The gathering was SoftBank’s 39th shareholders meeting, with about 2,000 investors present. Son’s remarks drew laughs and even feigned outrage from directors. Fast Retailing Co. CEO Tadashi Yanai, who sits on SoftBank’s board and is Japan’s richest man, urged shareholders to look out for Son “or he will go out of control.”The billionaire’s projections include investments by the Vision Fund. But even bullish analysts have much more modest projections for that portfolio. Chris Lane of Sanford C. Bernstein recently estimated the net present value of the current and future funds at $50 billion to $85 billion.Son then reminded shareholders how 15 years ago at the very same auditorium he presented another seemingly improbable target -- SoftBank with 1 to 2 trillion yen in profit. At the time, the company booked over 100 billion yen in losses. Annual net income has exceeded 1 trillion yen for the past three years.Over that period of time, Son has expanded into wireless operations with the acquisition of Vodafone Group Plc’s Japan unit, acquired Sprint Corp. in the U.S. and launched the $100 billion Vision Fund to transform SoftBank into a technology investment juggernaut. Still, the company trades at a deep discount to the worth of its holdings. The total value of the conglomerate’s publicly traded shareholdings is around 21 trillion yen, while SoftBank’s market cap is roughly 10.7 trillion yen. By the company’s own estimation, there is a discount of about 50%.Son’s message to investors is that when it comes to technology, he is ahead of the curve. He was early to recognize the value of e-commerce and invest in Alibaba Group Holding Ltd. SoftBank was also first to introduce Apple Inc.’s iPhone in Japan. Now Son believes the world is on the verge of another technological shift, driven by artificial intelligence that will transform every industry. He argues that the company’s portfolio of unicorns from Uber Technologies Inc. to WeWork Cos. positions SoftBank to reap the most benefits from that disruption.“I wish I had the money to make tons of investments at the start of the internet revolution. I could see it coming,” Son said. “We started the Vision Fund at the very beginning of the AI revolution.”At least a few of the investors present took him at his word.“Son may talk big, but just look at what he has actually accomplished,” said Yasuhiro Suzuki, a SoftBank shareholder of about 20 years. “I have been to many of these meetings, but today Son seemed especially in high spirits.”Key Insights:The Vision Fund is nearing the end of its investment cycle and SoftBank is in the process of raising a second one of equal size, Son said. The two funds will be successive. SoftBank is in talks with limited partners in the first fund to renew their investments.The company is increasing staff at the fund to 1,000 people, from 415 now.To contact the reporters on this story: Pavel Alpeyev in Tokyo at firstname.lastname@example.org;Takahiko Hyuga in Tokyo at email@example.comTo contact the editors responsible for this story: Peter Elstrom at firstname.lastname@example.org, Edwin ChanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The China internet giant has rallied ahead of the broad market this year, rising more than 21% in 2019. Citigroup says the momentum can keep growing.
On June 18, Alibaba (BABA) announced senior management changes. Alibaba seems to be gearing up for life after Jack Ma. Daniel Zhang is slated to become Alibaba’s chairman after Ma retires in September.
While the deteriorating job market could damage China's economy in the long term, Chinese stocks and ETFs are falling right now. FXI and GXC have lost nearly 8.7% and 9.7%, respectively, in the second quarter.
BEIJING/SHANGHAI (Reuters) - China's Alibaba Group Holding Ltd on Tuesday unveiled its most significant business reshuffle since co-founder Jack Ma announced his pending retirement, as the e-commerce firm looks to bolster its investment focus in the face of slowing growth. Chief Financial Officer Maggie Wu will oversee Alibaba's strategic investments unit, taking over that responsibility from Executive Vice-Chairman Joe Tsai who will support Wu in her expanded role, the firm said on its official WeChat account. The change comes as Alibaba invests in new business lines such as cloud computing as a boom in its core e-commerce has peaked and revenue growth slows.
The stock split aims to “increase flexibility in the company’s capital raising activities” and is seen as another hint that a Hong Kong listing is likely to happen later this year.
Alibaba (BABA) has announced a one-to-eight stock split. The company is reportedly planning a Hong Kong listing that could raise almost $20 billion for the Chinese e-commerce giant. The company is slated to propose the stock split to shareholders at its upcoming annual general meeting.
Alibaba is being heavily linked with a public listing in Hong Kong, whichcould reportedly happen in Q3 and raise up to $20 billion
Under Alibaba's proposal, one share would be split into eight with the number of shares available for investors increasing from 4 billion to 32 billion.
China's Alibaba Group Holding has proposed a one-to-eight stock split ahead of a listing in Hong Kong later this year that is expected to raise up to $20 billion. The split, to be presented to shareholders for a vote at an annual general meeting in Hong Kong on July 15, will increase flexibility in the firm's capital raising activities, including the issuance of new shares, the e-commerce giant said. Alibaba has filed confidentially for a Hong Kong listing, a person familiar with the matter told Reuters earlier this month.
(Bloomberg) -- Alibaba Group Holding Ltd. plans a one-to-eight share split, as the e-commerce giant prepares for a stock sale that could be Hong Kong’s largest since 2010.China’s largest company is proposing to increase the number of ordinary shares eight-fold to 32 billion, it said in a statement. The proposal will be discussed and put to a vote at its annual general meeting in Hong Kong on July 15. If approved, the split should take place no later than July 2020.Alibaba is said to have filed for a listing in Hong Kong last week via a confidential exchange application. That sale of stock, which could raise as much as $20 billion, replenishes the online retailer’s war-chest and helps it attract investors closer to home as tensions between China and the U.S. escalate.In the Hong Kong offering, the company will seek to preserve its governance system, where a partnership of top executives has rights including the ability to nominate a majority of board members, a person familiar with the matter has said. It’s possible also that the company may not need to seek a waiver, as the city’s listing rules allow some Chinese issuers who have already listed on an established international bourse to keep their existing structures in a secondary listing.To contact the reporter on this story: Lulu Yilun Chen in Hong Kong at email@example.comTo contact the editors responsible for this story: Peter Elstrom at firstname.lastname@example.org, Edwin ChanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
PetSmart acquired Chewy in 2017, paying about $3 billion for the company. PetSmart last year pegged the value of Chewy at $4.45 billion in private documents shared with investors, according to people with knowledge of those documents. The offering included 5.6 million shares sold by Dania Beach, Florida-based Chewy and 40.9 million sold by a wholly owned subsidiary of PetSmart, according to a statement.
(Bloomberg) -- PetSmart Inc.-controlled Chewy Inc. surged in its first day of trading after raising $1.02 billion in an initial public offering, as investors bet that pet owners will do more of their shopping online for everything from cat food to doggy sweaters.Chewy’s shares rose as much as 88% in the first hour of trading Friday from the $22 offer price. The shares closed up 59% to $34.99, giving the company a market value of about $13.95 billion.PetSmart acquired Chewy in 2017, paying about $3 billion for the company. PetSmart last year pegged the value of Chewy at $4.45 billion in private documents shared with investors, according to people with knowledge of those documents.On Thursday, Chewy sold 46.5 million shares above its $19 to $21 target range, after earlier marketing only 41.6 million shares for $17 to $19 each. The offering included 5.6 million shares sold by Dania Beach, Florida-based Chewy and 40.9 million sold by a wholly owned subsidiary of PetSmart, according to a statement.The offering was the sixth-biggest out of 78 in the U.S. this year, according to data compiled by Bloomberg. It’s one of only 10 IPOs for online product retailers globally to exceed $1 billion, a group that includes the 2014 Alibaba Group Holding Ltd. $25 billion listing, the largest-ever.$72 Billion on PetsAmericans spent more than $72 billion on their pets last year, with Chewy’s 31% of U.S. online sales surpassed only by Amazon.com Inc.’s 55% share, according to the American Pet Products Association. The Chewy site, which started in 2011, logged sales of $3.53 billion for the year ended Feb. 3, up from $2.1 billion from the previous fiscal year, according to the company’s prospectus.“Pet parents” continue to spend even in times of economic uncertainty. During the 2008 to 2010 recession, overall consumer spending in the U.S. declined, while pet spending increased by 12%, Chewy has said, citing APPA.Chewy plans to continue growing by expanding its private-label products and health services including prescription drugs, Chief Executive Officer Sumit Singh said in an interview.“Our active customers spend more and more the longer they stay with us,” Singh said. “We have a lot more to do out there, a lot more customers to add.”The offering follows a heated dispute between PetSmart and its creditors over the transfer of Chewy assets ahead of the IPO.Loan DisputePetSmart and its private equity owners, a group led by BC Partners, moved a portion of the Chewy unit to an unrestricted subsidiary and another to the parent company, both out of creditors’ reach. Lenders sued, arguing that PetSmart was insolvent at the time of the transfer and that the move was fraudulent.PetSmart resolved the dispute by amending its loan agreement, promising to give lenders a portion of the proceeds from any eventual sale of the online business, according to people with knowledge of the situation. The exact amount of PetSmart’s proceeds from the IPO that will go to pay down debt has yet to be determined.Before Chewy’s offering was expanded, current investors were to have retained a 90% stake in the company as well as 99% of the voting rights as a result of the dual-class share, according to its filings with the U.S. Securities and Exchange Commission. PetSmart was to have 70% of the total shares and 77% of the voting power, the filings show.Debt ReliefChewy’s IPO should give some financial relief to PetSmart, which is saddled with more than $8 billion of debt due over the next six years. After Chewy raised the price range for its IPO on Wednesday, PetSmart’s bonds rallied to the highest level in two years. Its bonds due in 2023 and 2025 were among the top gainers in the U.S. high-yield market on Friday, according to Trace bond trading data.“A strong public-market showing by Chewy will be a positive due to the increased asset coverage it implies and the possibility that some of those assets will be monetized and used to pay down debt in the future,” said Ben Briggs, a high yield and distressed credit analyst with INTL FCStone.After the IPO, Chewy expects to obtain a new revolving credit facility with covenants, including requirements that it maintain certain financial ratios.The offering was led by Morgan Stanley, JPMorgan Chase & Co. and Allen & Co. The shares are trading on the New York Stock Exchange under the symbol CHWY.(Updates with closing share price in second paragraph.)\--With assistance from Emma Chandra and Matthew Monks.To contact the reporters on this story: Katherine Doherty in New York at email@example.com;Crystal Tse in Hong Kong at firstname.lastname@example.orgTo contact the editors responsible for this story: Elizabeth Fournier at email@example.com, ;Rick Green at firstname.lastname@example.org, Michael Hytha, Lisa WolfsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Assessing Alibaba Group Holding Limited's (NYSE:BABA) past track record of performance is a valuable exercise for...
On June 14, China released several economic data points. While the country's industrial production and fixed asset investment data were below expectations, its May retail sales were better than expected. The data showed China’s May retail sales rising 8.6%.
Chinese e-commerce giant Alibaba (BABA) has filed paperwork confidentially for its Hong Kong listing, according to a report by Bloomberg. The company’s listing in Hong Kong would be its second after it raised a record $25 billion through its New York listing in 2014.