【高盛：阿里巴巴继售银泰再售高鑫 持续专注核心业务及股东回报】金十数据1月2日讯，高盛发报告指，阿里巴巴(09988.HK)近日宣布出售高鑫零售(06808.HK)，预计出售完成后可能带来约132亿元人民币的会计亏损。该行认为，这与管理层持续专注核心业务及股东回报一致。基于SOTP估值，予集团目标价131港元及买入评级。阿里巴巴认为，此次出售是其非核心资产变现的良机，旨在更专注核心业务及提高股东回报。虽然该次资产出售完成后可能导致会计出售亏损；但高盛认为，出售两项主要的线下零售业务符合集团持续专注电商的方针，同时相信交易获得净额，或回馈股东。高盛指，交易标志着继早前宣布出售银泰后的第二项重大非核心资产出售。高盛表示，两项资产在其SOTP估值中并不重要，高鑫零售和银泰业务均计入所有其他分部，对集团的利润贡献极小。随着阿里巴巴股价走软，高盛认为投资者的焦点仍在于阿里巴巴商品交易总额（GMV）增长与同业的差距，及12月止季度，淘宝天猫EBITA的下跌水平。
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