External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

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<ul><li>NBS released (17 January) Dec and full year 2022 online retail sales data.</li><li>YoY growth of online physical goods GMV reaccelerated to 4.4% YoY in Dec 2022 (1.2% YoY in Nov), which in our view could be attributed to recovery in logistics and fulfilment capability in late Dec and frontloaded sales generated from the Spring Festival shopping festival due to the early Spring Festival in 2023.</li><li>But solid recovery in YoY growth trajectory likely takes time, in our view, echoed by the 4.7% YoY online retail sales growth during the first five days of the shopping festival (30 Dec 2022-3 Jan 2023; per Ministry of Commerce). </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

NBS released (17 January) Dec and full year 2022 online retail sales data.YoY growth of online physical goods GMV reaccelerated to 4.4% YoY in Dec 2022 (1.2% YoY in Nov), which in our view could be attributed to recovery in logistics and fulfilment capability in late Dec and frontloaded sales generated from the Spring Festival shopping festival due to the early Spring Festival in 2023.But solid recovery in YoY growth trajectory likely takes time, in our view, echoed by the 4.7% YoY online retail sales growth during the first five days of the shopping festival (30 Dec 2022-3 Jan 2023; per Ministry of Commerce). Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Internet – December online retail sales recap

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul><li>Cover Story: Where to now for Alibaba in the post-Jack Ma era?</li><li>World elite return to Winter Davos as recession fears mount</li><li>China runs short of anti-immune deficiency drug as Covid panic buying clears shelves</li></ul>

Cover Story: Where to now for Alibaba in the post-Jack Ma era?World elite return to Winter Davos as recession fears mountChina runs short of anti-immune deficiency drug as Covid panic buying clears shelves

CX Daily: Where to Now for Alibaba in the Post-Jack Ma Era?

<ul><li>Covid-19 / Caixin Explains: Why countries are putting curbs on travelers from China</li><li>Village banks / Henan village banks start reimbursing large depositors</li><li>Regulator / China’s banking regulator appoints first vice chairwoman</li></ul>

Covid-19 / Caixin Explains: Why countries are putting curbs on travelers from ChinaVillage banks / Henan village banks start reimbursing large depositorsRegulator / China’s banking regulator appoints first vice chairwoman

CX Daily: Why Countries Are Putting Curbs On Travelers From China

Equity Bottom-Up

Alibaba Group Holding  / Equity Bottom-Up

<ul><li>Although pandemic impact will weigh on revenue growth recovery in 1Q23, Alibaba Group (BABA)’s China retail marketplace GMV growth should recover along with overall consumption recovery aided by economic stimulus policy in 2023, in our view.</li><li>Prudent cost control and strategic move to drive operating efficiency improvement are bearing fruit, and the potential recovery in revenue growth could fuel steady earnings growth in 2023.</li><li>We remain positive on BABA’s long-term development aided by international expansion and cloud business. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Although pandemic impact will weigh on revenue growth recovery in 1Q23, Alibaba Group (BABA)’s China retail marketplace GMV growth should recover along with overall consumption recovery aided by economic stimulus policy in 2023, in our view.Prudent cost control and strategic move to drive operating efficiency improvement are bearing fruit, and the potential recovery in revenue growth could fuel steady earnings growth in 2023.We remain positive on BABA’s long-term development aided by international expansion and cloud business. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Alibaba (BABA US) – Looking beyond short-term pandemic impact

<ul><li>Ant Group Co. Ltd.’s online lending subsidiary has been given the go-ahead from regulators to boost its registered capital by 10.5 billion yuan ($1.5 billion), marking a key step forward in the fintech giant’s government-driven, year-long revamp</li><li>The approval was granted a month and a half after some of the unit’s shareholders disclosed the plan, underscoring the recent pledge by authorities to promote healthy development</li><li>Ant Group, backed by billionaire Jack Ma’s e-commerce giant Alibaba Group Holding Ltd., has been conducting a rectification required by the government since a regulatory storm saw its planned blockbuster IPO suspended in November 2020</li></ul>

Ant Group Co. Ltd.’s online lending subsidiary has been given the go-ahead from regulators to boost its registered capital by 10.5 billion yuan ($1.5 billion), marking a key step forward in the fintech giant’s government-driven, year-long revampThe approval was granted a month and a half after some of the unit’s shareholders disclosed the plan, underscoring the recent pledge by authorities to promote healthy developmentAnt Group, backed by billionaire Jack Ma’s e-commerce giant Alibaba Group Holding Ltd., has been conducting a rectification required by the government since a regulatory storm saw its planned blockbuster IPO suspended in November 2020

Ant Group’s Lending Unit Gets Approval for $1.5 Billion Capital Boost

China

Alibaba Group Holding Limited provides online sales services. The Company provides internet infrastructure, electronic commerce, online financial, and internet content services through its subsidiaries. Alibaba Group Holding offers its products and services worldwide.

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Alibaba Group Holding (9988 HK)

China Internet – December online retail sales recap

YoY growth of online physical goods GMV reaccelerated to 4.4% YoY in Dec 2022 (1.2% YoY in Nov), which in our view could be attributed to recovery...

CMB International

CX Daily: Where to Now for Alibaba in the Post-Jack Ma Era?

Cover Story: Where to now for Alibaba in the post-Jack Ma era? World elite return to Winter Davos as recession fears mount.

Caixin Global

CX Daily: Why Countries Are Putting Curbs On Travelers From China

Caixin Explains: Why countries are putting curbs on travelers from China. Henan village banks start reimbursing large depositors

Caixin Global

Alibaba (BABA US) – Looking beyond short-term pandemic impact

Although pandemic impact will weigh on revenue growth recovery in 1Q23, Alibaba Group (BABA)’s China retail marketplace GMV growth should recover...

CMB International

Ant Group’s Lending Unit Gets Approval for $1.5 Billion Capital Boost

Ant Group’s online lending subsidiary has been given the go-ahead from regulators to boost its registered capital by 10.5 billion yuan ($1.5...

Caixin Global

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