JPALIBA@EP2606C

CMBI Sees Strong Growth Prospects for Alibaba's Full-stack AI Layout

TrendForce Report: Alibaba and other cloud giants' CapEx to surge in 2026.

Alibaba HK Shares Close Up 0.47% Defying US Drop, Boosted by Cloud Coding Plan

Hong Kong to issue first batch of stablecoin issuer licenses next month.

BOCI releases report stating AI model evolution path is clearing, computing power may face shortages.

Alibaba Cloud's Qwen Opens Sources Three Medium-Sized Models with Strong Performance

UBS maintains bullish outlook on Chinese tech stocks despite AI headwinds

Alibaba Sees Significant Net Inflows from Southbound Stock Connect

Alibaba Cloud Launches "Coding Plan" Subscription Service with Qwen 3.5 and Other Top Open-Source Models

China's National Bureau of Statistics to release February PMI data.

Southbound Stock Connect fund flow statistics released

Hong Kong stocks close lower: Hang Seng Index falls 1.8%, Alibaba leads decline on AI concerns.

Alibaba Cloud Launches Strongest Coding Plan Service

Alibaba Cloud launches four open-source models including Qwen3.5 and GLM-5.

Benchmark and Mizuho raise Alibaba stock price targets.

Futu News to release Alibaba options activity analysis report.

New Chinese e-commerce regulations banning forced merchant promotions to take effect in February 2026.

Hong Kong stocks open higher; Alibaba shares rise ahead of Budget release

Alibaba Cloud AI Alliance Summit to be held in Singapore

Alibaba is projected to go ex-dividend for its annual payout in mid-June.

HKC INT'L RTS

TIANBAO ENERGY

SUMMI

HANG YICK RTS

UNI PRINTSHOP

CHERISH SUN

NE ELECTRIC

SINO GAS HLDGS

MANY IDEA CLOUD

CREATIVE CHINA

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09988

BABA

BABX

KBAB

BABO

The research report from China Merchants Securities International points out that Alibaba has built a full-stack AI layout, including infrastructure, models, and product application ecosystems. The report emphasizes Alibaba's advantages in computing power infrastructure, open-source ecosystem, product ecosystem, and cloud business, forecasting a year-on-year growth rate of 42% and 28% for net profit attributable to the parent company in the fiscal years 2027 and 2028. The target price for Alibaba's U.S. stocks is maintained at $204, the target price for H shares is HKD 198, with a rating of "Buy," and it is listed as a top choice in Chinese internet

AASTOCKS

ALI HEALTH

BABA-W

Alibaba

Global X Fintech

Hwabao CSI HK Equities Internet ETF

BABA 2x Long Daily ETF - GraniteShares

Krne Csi China Internet

Tianhong CSI Computer Theme ETF

Yinhua MSCI China A ETF

KraneShares 2x Long BABA Daily ETF

Comm Servcies Select Sector SPDR

Global X E-commerce ETF

E Fund CSI HK Connect Internet ETF

Direxion FTSE China Bull 3X

Yinhua CSI Movies Theme ETF

ChinaAMC CSI Cultural Entertainment Media ETF

Invesco Golden Dragon China

YieldMax BABA Option Income Strategy ETF

"Large Firms" CICC: Alibaba builds a full-stack AI layout, continues to be the top choice for Chinese internet

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BEKE

89988

HBBD

02319

CIADY

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XPEV

0225 | Dolphin Research Key Watch: 🐬 Macro/Industry 1) Today, Hong Kong Financial Sec. Paul Chan unveiled the FY2026/27 Budget, focused on I&amp;T and finance, with measures to support the AI industry, advance RMB internationalization, improve livelihoods, and develop the Northern Metropolis. On hard tech, the HKSAR Gov. will set up a HK$10 bn I&amp;T Industry Co-investment Fund, targeting strategic areas including life sciences &amp; healthcare, AI and robotics. The Budget projects Hong Kong GDP growth of 2.5%-3.5% in 2026...

HK Budget Ups I&T; META, AMD Seal 100bn-Class Compute Deal | Daily News Recap

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MELI

GOOG

GOOGL

ROKU

GGLS

GGLL

Below is Dolphin Research's transcript of the FY25 Q4 earnings call for $Mercadolibre(MELI.US). For our earnings take, see 'Latin America's Alibaba's Split Personality: Revenue Giant, Profit Dwarf'. I. Review of key financial metrics. II. Call details. 2.1 Management highlights. 1) Brazil e-commerce strategy: GMV accelerated (+35%) on strategic investments, notably lowering the free-shipping threshold. This boosted purchase frequency and attracted new buyers...

Mercado (Trans): Will develop an in-house e-comm Agent

Latin America's 'Alibaba' — MercadoLibre (MELI) saw its shares pop on the print before reversing. After-hours weakness likely reflected negative commentary on the call.Overall, the quarter looked solid. We will review the print first, with call notes to follow.1) Strong growth but margins under pressure. Total revenue rose nearly 45% YoY, a clear acceleration vs. last qtr, though mostly helped by FX tailwinds. On a CC basis, revenue grew 47%, a slight decel vs. last qtr. Growth was robust, while...

MELI: LatAm's 'Alibaba' with a split personality — a rev. giant, profit minnow---

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MPNGY

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As U.S. President Trump is about to announce the State of the Union address, the Hong Kong stock index opened high at 154 points, reporting 26,745 points. Both Alibaba and Meituan saw their stock prices rise by more than 1%. Real estate stocks showed mixed performance, with New World up 1.3%, while Hang Lung and Cheung Kong experienced slight declines. The three major U.S. stock indices closed higher on Tuesday, with the market optimistic about AI-related stocks, as Anthropic signaled collaboration, boosting software stocks' stability

- U.S. President Trump is set to deliver the State of the Union address, focusing on the positive economic climate and announcing new measures to reduce costs.  
- U.S. stock indices closed positively, with the Dow up 370 points, while several tech stocks, including Anthropic and AMD, saw significant gains due to positive AI and software market signals.  
- In Hong Kong, the government is set to announce a new budget, resulting in mixed movements among real estate stocks, while tech stocks like Alibaba and Meituan experienced upward trends.

Stheadline

MEITUAN

Meituan

Hang Seng Index

On the eve of the budget announcement, the Hang Seng Index opened up 154 points, with Alibaba and Meituan rising, while Zhizhu fell nearly 6%｜Hong Kong stock market opens

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On February 24th, Hong Kong stocks closed with all three major indices significantly retreating, with the Hang Seng Index down 1.82% and the Hang Seng Technology Index down 2.13%. Dragged down by the adjustment in U.S. stocks and macroeconomic concerns, the technology and catering sectors saw widespread declines, with Meituan down 4.24% and Tencent Holdings down 3.35%. Despite the weak market, KNOWLEDGE ATLAS surged against the trend, driven by positive news from AI model breakthroughs, rising 12.14%, while YUM CHINA increased by 2.55% due to strong earnings reports. Market sentiment has turned cautious, facing short-term profit-taking pressure

- On February 24, Hong Kong stocks faced a significant retreat, with major indices, including the Hang Seng Index, falling by 1.82% after reaching a high phase.  
- The declines were attributed to profit-taking pressures and cautious market sentiment, particularly affecting the tech and retail sectors.  
- Investors are closely monitoring macroeconomic indicators, including retail sales and import-export data, to assess the sustainability of local consumption and external demand recovery.

Market Heartbeat

KUAISHOU-W

BIDU-SW

TENCENT

MNSO

JD-SW

HAIDILAO

YUM CHINA

KNOWLEDGE ATLAS

KB LAMINATES

ADD NEW ENERGY

GIGADEVICE

NANFANG COMM

Tianhong Hang Seng TECH ETF(QDII)

CSOP HS TECH

HSTECH ETF

ChinaAMC Hang Seng Technology ETF(QDII)

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

Hang Seng TECH ETF I

Hong Kong Stock Market Closing | The Hang Seng Index fell 1.82%, technology and restaurant stocks were under pressure, while KNOWLEDGE ATLAS surged 12.14%

On February 24, 2026, Beijing time, the Hong Kong stock market collectively weakened in the afternoon, with all three major indices adjusting high and falling more than 2%. The Hang Seng Tech Index led the decline, dragged down by a pullback in AI themes. Technology stocks generally fell, with major stocks such as Tencent Holdings, Alibaba, and Meituan showing weak performance. Funds shifted towards defensive stocks and individual stock speculation, with Aito rising sharply against the trend due to positive acquisition news. On the macro level, the market is closely monitoring liquidity and the recovery of local consumption data, with investment sentiment leaning towards caution

- The Hong Kong stock market experienced a significant downturn, with major indices falling over 2% led by the Hang Seng Index which dropped 2.01%.  
- Key sectors such as internet and retail reflected negative sentiment, influenced by a retreat in AI stocks, highlighting a broader market adjustment.  
- Notable individual stock movements included significant increases for certain companies while others like Tencent and Alibaba faced declines amid increased market caution.

DAISHOMICROLINE

MOBI DEV

PUTIAN COMM

Hong Kong stocks intraday | Hang Seng Index fell 2.3%, Meituan dropped 4.59%, Aide New Energy surged 30.28%

On February 24th, the Hong Kong stock market's midday review showed a collective pullback in the morning session, with the three major indices experiencing a unilateral adjustment. The Hang Seng Index fell by 1.93%, and the Hang Seng TECH Index dropped by 2.36%, leading the market decline. Risk aversion sentiment increased, causing technology heavyweight stocks to weaken across the board, with Meituan -W down 4.76%, leading the blue-chip decline, and Tencent Holdings down 3.44%. The internet, retail, and catering sectors were generally under pressure, but YUM CHINA rose 1.98 against the trend. In terms of individual stocks, KNOWLEDGE ATLAS surged by 20.89%, and KB LAMINATES rose by 11.09, driven by positive earnings expectations. Market focus has shifted to macroeconomic data and liquidity in the capital market

- On February 24, Hong Kong's stock market showed a notable downturn with the Hang Seng Index closing at 26,560.57, down 1.93%. 
- Sector performance was broadly negative, particularly in technology and retail, with major companies like Tencent and Alibaba seeing significant declines amid rising risk aversion and concerns over macroeconomic conditions. 
- Investors are closely monitoring economic indicators such as retail sales and unemployment to gauge the recovery potential of the Hong Kong economy.

Shandong Molong

KINGBOARD HLDG

FI2 CSOP HSI

FL2 CSOP HSI

FI CSOP HSI

Hang Seng TECH Index

Hong Kong Stock Midday Review | Hang Seng Index fell 1.93%, KNOWLEDGE ATLAS surged 20.89%, Meituan dropped 4.76%

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On February 24th, during the Hong Kong stock market, the three major indices collectively weakened, with the Hang Seng Tech Index leading the decline, down 2.26%. The internet and retail sectors were under pressure, and market risk aversion increased, with Tencent Holdings falling 3.16% and Alibaba dropping 2.50%. The communication equipment sector showed mixed performance, with YOFC rising against the trend by 3.84%. In terms of individual stocks, KNOWLEDGE ATLAS surged 13.57% due to the release of its flagship model, while Jiantao's laminated board rose 11.19% on positive earnings expectations. Investors are closely watching Hong Kong's retail and unemployment rate data

- On February 24, Hong Kong stocks experienced a decline as profit-taking pressures emerged after reaching recent highs, with the Hang Seng Index down 1.65% at 26,634.12 points.  
- Notable declines were observed in the tech sector, led by Tencent, Kuaishou, and Meitu, while the retail sector also suffered due to external market influences.  
- Investors are closely monitoring economic indicators such as retail sales and unemployment rates to gauge local consumer recovery, impacting market momentum and liquidity expectations.

MEITU

BYD ELECTRONIC

SHANDONG MOLONG

YOFC

Hong Kong stock market intraday | The Hang Seng Index fell 1.65%, the Tech Index fell 2.26% leading the decline, KNOWLEDGE ATLAS surged 13.57%, YOFC strengthened against the trend

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FSTC

TCEHY

The NASDAQ Golden Dragon China Index initially closed down 0.9%. Among popular Chinese concept stocks, NetEase fell 1.7%, Baidu, Pony.ai, and New Oriental dropped about 1%, while Alibaba declined 0.8%. Tencent, Pinduoduo, Xiaomi, and Li Auto rose up to 0.9%, and BYD, Meituan, YUM CHINA, WeRide, and Nio increased by up to 4.5%

Wallstreetcn

NASDAQ Golden Dragon China Index

FTSE ST China Index

CSI 300

Tencent

XIAOMI-W

KraneShares 2x Long PDD Daily ETF

iShares MSCI China

GraniteShares 2x Long PDD Daily ETF

CSOP CSI300

China Southern CSI 300 ETF

Roundhill China Dragons ETF

NTES-S

NetEase

RIVN

BYTED

There is always plenty of drama around Chinese New Year. After Trump ramped up tariffs throughout 2025, the policy was effectively gutted, leaving no legal footing.In 2026, following a rush of domestic AI model launches, China ADRs never had a 'DS moment'. Model-linked names were the only ones that outperformed.Also, during Chinese New Year 2026, despite decent consumer data, HK stocks fell first and then rose, an ineffective swing. There was no standalone 'Chinese New Year bull run' during HK’s solo trading days.With Trump-era tariffs in his second term ruled unlawful, what could this mean for markets ahead? The days of blanket re-rating may be over...

With Trump tariffs axed and China models soaring, can China ADRs rally?

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O Neil Global Advisors Inc. has acquired a new position in Alibaba Group Holding Limited (NYSE:BABA), purchasing 17,498 shares valued at approximately $3.1 million, making it the firm's 21st largest position. Other institutional investors have also increased their stakes in Alibaba. The stock opened at $154.60, with a market cap of $369.1 billion and a consensus rating of "Moderate Buy" from analysts, who have set an average price target of $195.17.

- O Neil Global Advisors Inc. acquired 17,498 shares of Alibaba Group Holding Limited, valued at approximately $3,127,000, in Q3, making it the firm’s 21st largest position.  
- Other institutional investors have also adjusted their stakes, with significant increases from Mather Group LLC and NBT Bank N A NY during the same period.  
- Alibaba holds a consensus rating of "Moderate Buy" from analysts, with an average price target of $195.17 amid fluctuating price targets from various investment firms.

Market Beat

Amplify Online Retail ETF

Global X Cloud Computing ETF

ProShares Online Retail

O Neil Global Advisors Inc. Takes Position in Alibaba Group Holding Limited $BABA

Today’s Key News Recap

Meta Platforms

BEKE-W

Kimball Electron

BABA-WR

Alibaba HK SDR 5to1

MENGNIU DAIRY

Mengniu Dairy

Unity Software

XPENG-W

XPeng

MercadoLibre

Conference Minutes

Mercadolibre

Alphabet - C

Alphabet

Roku

Direxion Daily Googl Bear 1x Shares

Direxion Daily GOOGL Bull 2X Shares

Financial Analysis

DeepSeek allegedly using banned Nvidia chips, dragging down whole sector. $Alibaba(BABA.US) -2.9% to $147.8 on HKEX, volume 35M shares, active sell ratio 64:36 . Market dumping first, asking questions later. Classic overreaction or real risk? I'm watching for dip buyers.

DeepSeek

Strategy Report

Walmart

Rivian Automotive

ByteDance

0223 | Dolphin Research Focus: Macro/Sector. 1) Major shift in U.S. tariff policy in Feb 2026, as the Supreme Court struck down global tariffs imposed under the International Emergency Economic Powers Act (IEEPA) as unconstitutional.The White House then announced a 10% temporary tariff on all global imports effective Feb 24 (later raised to 15%). The measure lasts 150 days and requires Congress approval for extension, with exemptions for critical minerals, pharmaceuticals, and other items.Approx. $175 bn of previously collected tariffs may be refunded. Near term, trade could face disruption, while longer-term cost pressures may ease...

Allianzim US Large Cap Buffer10 Mar ETF

POP MART

POP MART HK SDR 20to1

HK stocks on fire; Pop Mart launches 'After-school Merodi' | Daily News Recap

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$NIO-SW(09866.HK)

$BABA-W(09988.HK)Many people still misunderstand Alibaba as merely an e-commerce company. In reality, its rapid progress in AI and cloud services is transforming it into a technology-driven growth company. Analysts generally lean toward a moderate buy to strong buy outlook on BABA shares.The launch of its latest AI model, Qwen 3.5, further demonstrates clear improvements in power and efficiency, signaling Alibaba’s strong commitment to competing in the generative AI race.I have the patience and conviction to hold BABA and ride the green dragon forward. What about you?

JPALIBA@EP2606C(24625.HK)

"Large Firms" CICC: Alibaba builds a full-stack AI layout, continues to be the top choice for Chinese internet

HK Budget Ups I&T; META, AMD Seal 100bn-Class Compute Deal | Daily News Recap ---

Mercado (Trans): Will develop an in-house e-comm Agent

MELI: LatAm's 'Alibaba' with a split personality — a rev. giant, profit minnow---

On the eve of the budget announcement, the Hang Seng Index opened up 154 points, with Alibaba and Meituan rising, while Zhizhu fell nearly 6%｜Hong Kong stock market opens