$BABA-W(09988.HK) The Side Effects of the “Red Envelope War”:

Alibaba Cloud's “Tongyi Qianwen” launched a “3 billion yuan free” campaign for the Spring Festival traffic, which topped the app charts but directly caused a system crash, and the sharing links were blocked by WeChat. This not only failed to bring the expected brand reputation but also exposed technical shortcomings and raised market concerns about the cost of traffic monetization. The market may continue to digest this negative sentiment next week.