Guojin Securities has released a research report stating that Alibaba-W (09988) integrates chips, cloud, and models into a unified framework, positioning it as a leading full-stack AI company in China. The company's cloud business is experiencing accelerated growth, and its instant retail segment is expected to significantly reduce losses. For fiscal years 2027 to 2029, Alibaba-W's projected adjusted net profit attributable to shareholders is 97.497 billion yuan, 143.890 billion yuan, and 191.977 billion yuan, respectively. This corresponds to adjusted price-to-earnings ratios of 23.5, 15.9, and 11.9 times. The firm maintains its "Buy" rating on the stock.
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