$BABA-W(09988.HK) A bunch of people are bashing Alibaba. It's true that the stock price hasn't performed well, but Alibaba's fundamentals are solid. E-commerce, AI cloud services, Pingtouge chips, the Qwen large model, Alipay, AI glasses hardware entry layout, comprehensive development of AI agents — which one is lagging behind? None! Closed-source models win applause but don't generate revenue and keep burning money. Shouldn't we adjust the direction? OpenAI, Anthropic, Gemini — which one is doing open source? Aren't they all closed source? Lin Junyang is indeed excellent, but the success or failure of a tech giant isn't decided by one or two individuals. The AI field is advancing every day. As long as Alibaba persists in investing in AI and focuses on AI, there's no problem. Opportunities arise from declines. What's there to fear? A tech giant with a P/E ratio of just over ten times — can't you hold on to it?