CITIC Securities: Maintains Alibaba-W "Buy" rating with a target price of HKD 165
CITIC Securities released a research report stating that it is optimistic about the long-term investment value of Alibaba-W, maintaining a target price of HKD 165 per share for Hong Kong stocks, corresponding to a FY26 Non-GAAP PE of 15x, and maintaining a "Buy" rating. On May 7, 2025, Taobao Tmall and Xiaohongshu officially announced a strategic cooperation to create the "Red Cat Plan," achieving the first full-link connection from Xiaohongshu to Taobao Tmall, establishing an efficient closed loop between content seeding and transaction conversion, which is expected to significantly enhance brand marketing efficiency and business growth certainty. By connecting content traffic with transaction capabilities, strengthening data and tool collaboration, and building a rapid new product incubation mechanism, the "Red Cat Plan" will become an important lever in the Taobao ecosystem, helping brands achieve a sustainable growth path from seeding to transaction. Following the integration of WeChat Pay, Weibo, Zhihu, Bilibili, and other channels, the inclusion of Xiaohongshu is expected to further enrich external traffic sources for Taobao, expand the conversion field for content-oriented consumers, and further strengthen the construction of the e-commerce ecosystem and transaction completion
According to the Zhitong Finance APP, CITIC Securities has released a research report stating that it is optimistic about the long-term investment value of Alibaba-W (09988), maintaining a target price of HKD 165 per share for the Hong Kong stock, corresponding to a FY26 Non-GAAP PE of 15x, and maintaining a "Buy" rating.
On May 7, 2025, Taobao Tmall and Xiaohongshu officially announced a strategic cooperation to create the "Red Cat Plan," achieving the first full-link connection from Xiaohongshu to Taobao Tmall, establishing an efficient closed loop between content seeding and transaction conversion, which is expected to significantly enhance brand marketing efficiency and business growth certainty. By connecting content traffic with transaction capabilities, strengthening data and tool collaboration, and building a rapid new product incubation mechanism, the "Red Cat Plan" will become an important lever in the Taobao ecosystem, helping brands achieve a sustainable growth path from seeding to transaction. Following the integration of WeChat Pay, Weibo, Zhihu, Bilibili, and other channels, the inclusion of Xiaohongshu is expected to further enrich external traffic sources for Taobao, expand the conversion field for content-oriented consumers, and further strengthen the construction of the e-commerce ecosystem and transaction completion
