智通财经网·2025-09-12 02:19Core Viewpoint - CITIC Securities has issued a "buy" rating for Alibaba-W (09988), highlighting the company's significant financial advantages and predicting a dual oligopoly competition landscape in the medium term [1] Group 1: Financial Projections - The firm anticipates that Alibaba could contribute an additional 1 trillion GMV from FY2026 to FY2028 through its dual-mode development strategy across all categories [1] - The report projects that the steady-state profitability contribution from the flash purchase business could reach 18.3 billion yuan, with a potential market value increase of nearly 200 billion yuan by 2026 under optimistic valuation scenarios [1] Group 2: Strategic Developments - Since February 2025, the three major platforms have upgraded their layouts by entering the instant retail sector through food delivery services, which serve as a high-frequency entry point to drive local life and e-commerce businesses [1] - Alibaba's "One Taobao" strategy has been upgraded, with organizational adjustments for better synergy and comprehensive integration of member benefits [1] Group 3: Market Positioning - The launch of the flash purchase service has significantly improved user acquisition and retention, leveraging the advantages of e-commerce merchants to create differentiated competition in categories such as apparel, electronics, and beauty products [1] - The rapid replenishment of delivery personnel is enhancing operational capacity, positioning Alibaba to capture future retail market opportunities [1]