Zhi Tong Cai Jing·2025-08-28 02:23Core Viewpoint - Alibaba's stock price has dropped over 4%, currently at 116.6 HKD, with a trading volume of 7.581 billion HKD, amid concerns over its upcoming financial performance announcement [1] Financial Performance - Alibaba plans to hold a board meeting on August 28 to approve its unaudited results for the three months ending June 30, 2025, with the earnings announcement scheduled for August 29 [1] - CMB International has downgraded the group's first-quarter profit by 23%, citing pressure on profits primarily due to increased investment in flash sales [1] - The adjusted EBITA for the group is expected to decline by 15% year-on-year to 38.4 billion CNY, corresponding to a profit margin of 15.3%, which is a decrease of approximately 3 percentage points year-on-year [1] Market Outlook - Tianfeng Securities anticipates steady revenue growth for Alibaba in FY26Q1, although profits may be impacted by flash sale subsidies [1] - The capital expenditure of major overseas tech companies has exceeded expectations, indicating strong ongoing demand for AI, with expectations for Alibaba's cloud business to maintain high growth rates this quarter [1]