Citigroup said Alibaba (09988.HK) is likely to revise segment reporting,
including folding Alibaba International Digital Commerce Group (AIDC) into China
e-commerce because both are run by Jiang Fan and share similar supply chains.
Citigroup cut valuation multiples on AIDC and the "Other" segment and lowered
its PT to HKD191 from HKD207, while keeping a Buy rating.