May 21, 2025 05:00 AM GMT Vipshop Holdings Ltd: More patience needed for revenue growth to return to positive territory Although Vipshop has witnessed improving consumption demand in April and May vs. 1Q25, it is still too early to expect its revenue growth to return to positive territory in 2Q25. However, VIPS' high shareholder return (12% yield) and low valuation (6.6x 2025e P/E) limit downside, in our view. Play Audio Read more: Vipshop Holdings Ltd: More patience needed for revenue growth to return to p ...

May 15, 2025 10:40 AM GMT Alibaba Group Holding | Asia Pacific BABA 4QF25 CMR beat, but Cloud in line Reaction to earnings Strengthens our thesis In-line Modest revision higher Impact to our thesis Financial results versus consensus Direction of next 12-month Source: Company data, Morgan Stanley Research Key Takeaways Exhibit 1: 4QFY25 results review | Alibaba Group | Mar-24 | Dec-24 | Mar-25 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | YE Mar | 4Q24 | 3Q25 | 4Q25e | 4Q25 | ...