---
title: "Alibaba's total market capitalization in Hong Kong has returned to HKD 3 trillion, and Alibaba is undergoing a rebirth"
description: "Alibaba's Hong Kong stock rose 5.28% on September 17, with the stock price reaching HKD 161.6, and the total market value returning to HKD 3 trillion, with an increase of nearly 100% since the beginni"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/257879230.md"
published_at: "2025-09-18T09:40:31.000Z"
---

# Alibaba's total market capitalization in Hong Kong has returned to HKD 3 trillion, and Alibaba is undergoing a rebirth

> Alibaba's Hong Kong stock rose 5.28% on September 17, with the stock price reaching HKD 161.6, and the total market value returning to HKD 3 trillion, with an increase of nearly 100% since the beginning of the year. Investment banks such as JP Morgan and Goldman Sachs have raised their target prices, and the market's valuation logic for Alibaba has shifted, mainly benefiting from the rapid growth of AI and cloud business, as well as the stabilization and rebound of traditional e-commerce. Alibaba's cloud business revenue grew by 26% year-on-year, AI product revenue has maintained triple-digit growth for eight consecutive quarters, and the e-commerce business also achieved a 10% year-on-year increase in customer management revenue

On September 17th, Alibaba's Hong Kong stock rose by 5.28%, closing at HKD 161.6, reaching a nearly four-year high, with a total market value returning to HKD 3 trillion. Compared to the beginning of the year, Alibaba's stock price has nearly doubled. Several international investment banks, including JP Morgan and Goldman Sachs, have recently raised their target prices, indicating a shift in the market's valuation logic for Alibaba. The main drivers of the renewed confidence are two factors: the rapid growth of AI and cloud business, as well as the stabilization and rebound of traditional e-commerce. In the second quarter of 2025, Alibaba's cloud business revenue grew by 26% year-on-year, and revenue from AI-related products has maintained triple-digit growth for eight consecutive quarters, entering a positive cycle of high investment and high growth. Meanwhile, the e-commerce fundamentals have stabilized and rebounded, with Taobao's flash purchase business driving customer management revenue to grow by 10% year-on-year, exceeding market expectations, and contributing to a 25% year-on-year increase in monthly active users of the Taobao app

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.