--- title: "Understanding the Market | Alibaba-W fell nearly 6% in the afternoon as the EU imposed a €550 million fine on Alibaba's AliExpress" type: "News" locale: "en" url: "https://longbridge.com/en/news/293710825.md" description: "Alibaba-W fell nearly 6% in the afternoon, and as of the time of publication, it was down 4.79%, trading at HKD 109.4, with a transaction volume of HKD 8.936 billion. In terms of news, on July 20, the European Commission announced a fine of EUR 550 million (approximately RMB 4.25 billion) against Alibaba's cross-border e-commerce platform AliExpress under the EU Digital Services Act (DSA), setting a record for the highest penalty since the DSA came into effect. In response, China's Ministry of Commerce expressed strong dissatisfaction and serious concern, firmly supporting Chinese companies in using legal means to protect their rights and stating that it would take strong measures to firmly safeguard corporate interests. It is worth noting that the stock price performance of Google and Tesla after their latest earnings reports demonstrates that AI trading has shifted from a \"story-driven\" phase to a \"cash flow validation\" phase. In the fiscal year 2026, Alibaba recorded a net free cash outflow of RMB 46.609 billion, marking the first net free cash outflow since public financial data became available in the fiscal year 2011. Alibaba's management previously revealed that capital expenditures over the next three years could far exceed RMB 380 billion" datetime: "2026-07-24T06:30:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/293710825.md) - [en](https://longbridge.com/en/news/293710825.md) - [zh-HK](https://longbridge.com/zh-HK/news/293710825.md) generator: "portal-rs" --- # Understanding the Market | Alibaba-W fell nearly 6% in the afternoon as the EU imposed a €550 million fine on Alibaba's AliExpress According to the Zhitong Finance APP, Alibaba-W (09988) fell nearly 6% in the afternoon, and as of the time of publication, it was down 4.79%, trading at HKD 109.4, with a transaction volume of HKD 8.936 billion. On the news front, on July 20, the European Commission announced a fine of EUR 550 million (approximately RMB 4.25 billion) against Alibaba's cross-border e-commerce platform AliExpress under the EU Digital Services Act (DSA), setting the highest penalty record since the DSA came into effect. In response, China's Ministry of Commerce expressed strong dissatisfaction and serious concern, firmly supporting Chinese companies in using legal means to protect their rights and stating that it will take strong measures to firmly safeguard corporate interests. It is worth noting that the stock price performance of Google and Tesla after their latest earnings reports demonstrates that AI trading has shifted from the "story-driven" phase to the "cash flow validation" phase. In the fiscal year 2026, Alibaba recorded a net free cash outflow of RMB 46.609 billion, marking the first net free cash outflow since publicly available financial data began in fiscal year 2011. 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