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<Research>Daiwa Reaffirms Alibaba (BABA.US), Trip.com (TCOM.US), TENCENT (00700.HK), PDD (PDD.US) as Sector Top Picks
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Daiwa released a research report reviewing the 4Q24 results of Chinese internet companies, identifying AI as a core industry theme. The broker expected robust growth momentum to persist in cloud service revenue, with AI empowerment set to boost search and advertising businesses. Daiwa reaffirmed BABA-W (09988.HK) (BABA.US), TRIP.COM-S (09961.HK) (TCOM.US), TENCENT (00700.HK), Pinduoduo (PDD.US), Sea Limited (SE.US), and Full Truck Alliance (YMM.US) as its top picks. The report also anticipated that the commercialization of KUAISHOU-W (01024.HK)’s “KLING AI” will accelerate further this year. For Alibaba, Daiwa highlighted a reacceleration in customer management revenue (CMR) growth and the deconsolidation of SUNART RETAIL (06808.HK), which could drive FY2026 profits beyond expectations. The broker expressed optimism about potential earnings surprises from Alibaba and Trip.com for the quarter ending March 31, 2025. AAStocks Financial News |
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