Some key concerns from BABA's earning released yesterday: Although we see strong growth in Alicloud and Cainiao, narrowing losses in the new retail and entertainment business. I do think in coming quarters the earnings and growth could be under pressure:
1. The annual active users on BABA's platform is 779 million, that of PDD is 731 million of last quarter. It means this number could be exceeded by PDD in PDD's coming release.
2. BABA's made it clear its next business focus will be on Taobao Discount platform ( in competition with PDD), Taobao Buy Grocery ( in competition with Meituan), etc. In those areas, very fierce competition is foreseen and both PDD and Meituan have their head start advantage.
And after all, the regulation pressure will still be there.