Shinhan Dachi Daiwa Reports on Alibaba as Revenues Exceed Expectations

TOKYO, Feb. 6, 2018 /CNW/ - Shinhan Dachi Daiwa has reported that the Chinese e-commerce giant Alibaba Group Holding Ltd reported a better-than-expected jump ?in Q3 revenues on Thursday, defying concerns about weak sales on a recent slowdown ?in the Chinese economy.?

Shinhan Dachi Daiwa research and analysis department had said that from recent statistics showed that mobile revenue increased 140 per cent year-on-year to 35 billion yuan, while monthly mobile ?active users increased 50 per cent.?

Alibaba, which dominates the consumer-to-consumer market in China, said its ?core commerce business rose 57.3 percent relative to the year ago. Its closely-?watched gross merchandise volume (GMV), the value of transactions carried out by third-?party sellers on the company's platforms, rose 35 percent to 27 billion yuan.?

New York-listed shares of Alibaba nearly doubled in 2017 as ?investors have bet on the company's recovery, which is currently ?valued at $523 billion reported Shinhan Dachi Daiwa.

Although it seeks to grow overseas business ?and diversify outside e-commerce, but growing competition from ?rivals in key retail business, such as Amazon, are anticipated to drag on ?expansion's plans.?

Shinhan Dachi Daiwa International strategists wrote in a note this week: ?"Overall, Alibaba will probably not be able to enjoy the same ?high growth rate after the November 11 shopping festival as it ?did in the past one or two years."

Alibaba also continues to make a string of investments, recently ?announcing it would acquire a 33 percent stake in its payment affiliate Ant ?Financial. as it tries to develop beyond its traditional e-commerce ?business into a broader Internet company. Last year, it closed a ?multi-billion-dollar deal to buy the shares of China's equivalent ?of YouTube.

Commenting on the results, Shinhan Dachi Daiwa trader said: "Alibaba had ?another great quarter driven by the continued strength of the Chinese ?consumer and the wide and innovative range of services we provide for ?merchants and consumers."

About Shinhan Dachi Daiwa International: Since 2007 Shinhan Dachi Daiwa have been putting clients' success above all else, we have managed to grow the amount of capital that we have under management substantially, and are now proud to manage 7.8 billion dollars of assets under management which is a responsibility we do not take lightly.

SOURCE Shinhan Dachi Daiwa