Lyon: Instant retail investment drags down Alibaba-W (09988) first quarter earnings, rating downgraded to "outperform the market"

Intelligence Finance APP learned that, according to a report published by Lyon, the investment rating of Alibaba-W (09988, BABA.US) has been downgraded from "strongly outperform the market" to "outperform the market". The report indicates that Alibaba's first fiscal quarter revenue growth rate is expected to slow down to 2.4% by the end of June, mainly due to the exclusion of the financial reports of High Xin Retail (06808) and Intime Department Store. Excluding these factors, revenue is expected to increase by about 10%, with Taotian CMR expected to grow steadily by about 10%, while international retail business and cloud business revenue are expected to increase by approximately 20% and 22% respectively.