[Institutional Analyst: Pingtouge Valued at $20-30 Billion] According to Deep Tide TechFlow, on November 10th, Alibaba announced its plan to spin off its wholly-owned subsidiary, Pingtouge (Shanghai) Technology Co., Ltd., for a separate listing on the Hong Kong Stock Exchange. An investment professional, in an interview, valued Pingtouge at $20-30 billion. Previously, media reports indicated that Pingtouge planned a Hong Kong IPO next year, aiming to raise $2-3 billion. JPMorgan analysts, using a rough benchmarking approach, estimated its potential valuation to be between $25-62 billion in January. (Jinshi)