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Nomura: The expected income of Alibaba-W for the fourth quarter from Taotian Group met expectations, maintaining a "Buy" rating.
Nomura released a research report stating that Alibaba-W (09988) and its Taobao Tmall Group (TTG) are expected to achieve performance roughly in line with expectations for the fourth fiscal quarter ending March 2025, although comprehensive performance may fall short of expectations. The firm anticipates that Taobao Tmall Group's revenue may increase by 5.3% year-on-year, with EBITA rising by 2%. The report indicates that driven by a trade-in program and an increase in orders, Nomura predicts that Alibaba's CMR (Customer Management Revenue) may grow by 9.7% year-on-year, which is higher than the institutions' expected annual growth of 7.9%, and maintains its rating of 'Buy'. Nomura predicts that Alibaba's overall revenue may remain flat year-on-year, while comprehensive.
SUNART RETAIL (06808.HK): Huayu has been appointed as the chairman of the Board of Directors.
Gelonghui, March 6 | SUNART RETAIL (06808.HK) announced that, as disclosed in the Board of Directors change announcement, Qin Yuehong has resigned as a non-executive director, as well as a member of the Audit Committee, Nomination Committee, and Remuneration Committee; and Han Liu has resigned as a non-executive director, effective from February 27, 2025 (i.e. the date of delivery of the sale agreement). After the dispatch and publication of the consolidated documents: (i) Huang Mingduan has resigned as Chairman of the Board of Directors, but will remain as a non-executive director and a member of the Nomination Committee and Remuneration Committee until the first deadline for the delivery announcement is published to comply with the provisions of Rule 7 of the Takeover Code.
Sun Art Retail Chairman to Step Down Following Sale of Controlling Stake; Shares Fall 6%
Paragon Shine Completes Acquisition of 79% Stake in Sun Art Retail, Triggering Mandatory Cash Offer
Hong Kong stocks movement | SUNART RETAIL (06808) fell over 6% in the morning as independent suppliers are involved in a tax investigation. The company plans to set aside 58 million for tax expenses.
SUNART RETAIL (06808) fell over 6% in the early session, as of the time of writing, it has dropped 5.21%, priced at 1.82 Hong Kong dollars, with a transaction amount of 11.4111 million Hong Kong dollars.
SUNART RETAIL (06808.HK): Huayu will be appointed as the Chairman of the Board of Directors.
On February 28, Gelonghui reported that SUNART RETAIL (06808.HK) announced that (1) Qin Yuehong has resigned as a non-executive director and a member of the Audit Committee, Nomination Committee, and Remuneration Committee, effective from the date of the acquisition agreement's completion; (2) Han Liu has resigned as a non-executive director, effective from the date of the acquisition agreement's completion; and (3) Huang Mingduan will resign as Chairman of the Board of Directors, effective immediately after the comprehensive document is issued, but will remain as a non-executive director and a member of the Nomination Committee and Remuneration Committee until the first deadline, to comply with Rule 7 of the Takeover Code and fulfill his role as a member of the Independent Director Committee.
Sun Art Retail Group Limited (HKG:6808) Stock Rockets 35% As Investors Are Less Pessimistic Than Expected
