Zhi Tong Cai Jing·2025-08-06 03:59Core Viewpoint - Alibaba's stock saw a nearly 3% increase, attributed to the launch of a new membership system that integrates various services across its ecosystem, marking a strategic shift towards a comprehensive consumer platform [1] Group 1: Membership System Launch - On August 6, Alibaba's Taobao introduced a new membership system that connects services from Ele.me, Fliggy, and Hema, covering a wide range of consumer needs including shopping, food delivery, travel, and transportation [1] - The 88VIP user benefits will be fully upgraded, indicating a significant enhancement in customer offerings [1] Group 2: Financial Projections - Tianfeng Securities anticipates steady revenue growth for Alibaba in Q1 of the 2026 fiscal year, although profits may be impacted by flash sale subsidies [1] - East Asia Securities projects a 13% year-on-year growth in adjusted EBITDA for Alibaba in Q1 of the 2026 fiscal year, with cloud services expected to be a key growth driver [1] - Alibaba Cloud revenue is forecasted to grow by 23% year-on-year, highlighting the ongoing strong demand for AI and cloud computing capabilities [1]