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Goldman Sachs: Alibaba's dual primary listings pave the way for Stock Connect, maintains a 'buy' rating.

Gelonghui Finance ·  22:57

Goldman Sachs released a report that Alibaba will launch a dual major listing on the Stock Exchange and the New York Stock Exchange this Wednesday (28th). According to the Hong Kong Stock Connect review every six months, it is expected that after completing the Hong Kong main listing, Alibaba will pave the way for being included in the Hong Kong Stock Exchange in early September, which may bring in a potential net inflow of 150 to 16 billion US dollars. Goldman Sachs maintains Alibaba's “buy” rating, with a target price of HK$105. It believes that Alibaba's GMV growth has accelerated again this year, showing that its growth adjustments and customer-first development strategy are working, and that the strategy of using Taobao and Tmall as its core business for growth is progressing smoothly.

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