<ET Net News Agency, 28 September 2010> Alibaba (01688) announced that it will
introduce an upgraded China Gold Supplier membership package (CGS 2011 edition) priced at
RMB29,800 per annum effective January 1, 2011, to replace the existing Gold Supplier
Starter Pack, which is priced at RMB19,800.
While the near-term new customer adds could be affected by the higher price package,
Citigroup believes, starting in 2012 when "starter pack" members are forced to convert to
the upgraded package, we will likely see higher revenues with higher margins driven by
continued adoption of VAS with higher pricing.
The house maintained its "buy" call, with a target of HK$21.
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