MSALIBA@EC2608A

Alibaba's Qwen AI application processed over 120 million orders in 6 days

SMIC Executive Warns Rushed AI Chip Investment Could Lead to Future Idle Capacity

Alibaba Releases New Generation Text-to-Image Model 'Qwen-Image-2.0'

Alibaba and ByteDance release new image-generation AI models on the same day, benchmarking against leading industry products.

ByteDance is rumored to be developing its own AI chips, lagging behind Alibaba

Direxion Launches New Leveraged ETF for Alibaba

Alibaba to Continue Major Investment in Taobao Flash Sale, Unconcerned About Losses for Three Years

Alibaba Encourages Flash Purchase Team to Boldly Develop and Optimize Market Strategies

Hong Kong Customs Signs MOU with Taobao & Tmall Hong Kong to Combat Counterfeits

Southbound Trading Records Net Sell of HK$521 Million in Alibaba Shares

Guotai Haitong releases a research report analyzing Alibaba's shift in AI strategy to a 'system competition'

Alibaba's Qwen and Fliggy announce AI collaboration with over 40 global travel brands

Alibaba stock sees two large block trades totaling over HK$19 million

Shanghai Instrument & Electronics Signs Strategic Cooperation Agreement with Alibaba

Alibaba Qianwen's '3 Billion Spring Festival Free Orders' campaign is a success, with cards nearly depleted

Alibaba Cloud Expands Market Share and Maintains Growth for Three Consecutive Quarters

Alibaba is reportedly considering a spinoff and separate listing for its chip unit, T-Head

Alibaba-W Receives Net Inflow from Southbound Stock Connect for 5 Consecutive Days

Benoy Announces Completion of Wuhan Alibaba Center

Qianwen App's Spring Festival 3 billion yuan giveaway campaign sparks consumption boom

BOER POWER

WAI CHUN GROUP

HUAYUEXPRESSWAY

ASIA ENERGY LOG

KNOWLEDGE ATLAS

HING LEE (HK)

JH EDUCATION

TBKS HLDGS

SIMPLICITY HLDG

00700

01024

09988

On February 12th, the three major indices of the Hong Kong stock market collectively adjusted, with the Hang Seng Index falling 0.86% to 27,032.54 points, and the Hang Seng TECH Index dropping 1.65%. In terms of sectors, internet and restaurant stocks generally declined, with Meituan falling 4.5%, and Tencent and Baidu both moving lower; SenseTime surged 6.77% against the trend due to capital inflow, and Zijin Mining rose 3.45%. Investors are closely monitoring liquidity indicators such as M3 and foreign exchange reserves, and market sentiment is becoming cautious

- On February 12, Hong Kong stocks closed lower after recent highs, with the Hang Seng Index down 0.86% at 27,032.54 points.  
- Major sectors like internet content and restaurants faced significant declines, illustrating investor caution amid recovery challenges in consumption.  
- The market is focused on macro liquidity and economic recovery indicators, particularly retail sales and unemployment rates, to gauge future economic prospects.

Market Heartbeat

TENCENT

BIDU-SW

KUAISHOU-W

MEITUAN

HAIDILAO

YUM CHINA

BABA-W

JD-SW

ILUVATAR COREX

Hang Seng TECH Index

FI2CAMNDQ100

FI CSOP HSI

FI2 CSOP HSI

Meituan

Hang Seng Index

FL2 CSOP HSI

CSOP HS TECH

Hong Kong Stock Market Closing | Hang Seng Index fell 0.86%, losing high ground, Meituan plummeted 4.5% leading the decline in technology and dining sectors, SenseTime surged 6.77% against the trend

TCTZF

BABX

KWEB

BABA

KBAB

TCEHY

CITIC Securities International's research report points out that the model iteration of mainland internet companies has accelerated, enhancing the valuation recovery of the Hong Kong stock technology sector. It highlights companies such as Alibaba, Tencent, and Kuaishou, believing that the investment logic of the AI mainline has significantly strengthened, and future heavyweight models like DeepSeek-V4 and Alibaba Qwen 3.5 will become catalysts. Preferred stocks include Alibaba and Tencent

AASTOCKS

Tencent Holdings Limited

BABA 2x Long Daily ETF - GraniteShares

Hwabao CSI HK Equities Internet ETF

AXA SPDB CSI Hugangshen Game and Culture Media ETF

iShares MSCI China

Krne Csi China Internet

E Fund CSI HK Connect Internet ETF

Alibaba

Emerging Markets Internet ETF

KraneShares 2x Long BABA Daily ETF

ChinaAMC Hang Seng Internet Technology Industry ETF(QDII)

Tencent

Harvest Hang Seng SCHK Technology ETF

CITIC Securities International: Domestic model iteration accelerates valuation recovery of Hong Kong stock technology sector, with Alibaba and Tencent as top picks

EBIZ

Alibaba (9988) plans to increase investment in Taobao Flash Sale, aiming to surpass Meituan's market share by 2026. Management encourages the team to avoid losses in the next three years, focusing on developing instant retail, especially high-ticket orders. Despite a temporary drop in stock prices, Alibaba will continue to explore in-store business and plans to fully advance its strategy after the Spring Festival

- Alibaba's core management encouraged the continuation of bold Taobao flash sales while aiming for no loss burden in the next three years.  
- In 2026, Taobao flash sales will intensify, focusing on instant retail, particularly high-value orders above 30 RMB, and optimizing delivery operations.  
- The internal strategy includes exploring various scenarios for in-store services and a plan to gain market share over Meituan by summer, following an early start due to the Spring Festival.

Stheadline

Amplify Online Retail ETF

Global X E-commerce ETF

ProShares Online Retail

YieldMax BABA Option Income Strategy ETF

Alibaba is rumored to boldly increase investment in Taobao Flash Sale, with no losses for 3 years, striving to surpass Meituan in market share

According to a report by Sina Technology, Alibaba-W's Amap has established an embodied business department and is about to release its self-developed embodied navigation base model. It has built the largest embodied navigation data engine in the industry and has made breakthrough progress in long-range complex task processing capabilities. It is reported that, unlike many current robots that cannot execute complex instructions, Amap's embodied navigation base allows robots to achieve cross-scenario delivery and follow service in open physical environments

According to reports, Gaode will release a self-developed embodied navigation base model, allowing robots to achieve cross-scenario delivery and following services

02513

On February 12th, the three major indices of the Hong Kong stock market collectively weakened during the session, with the Hang Seng Index falling 0.92% around the 27,000-point mark, and the Hang Seng Technology Index leading the decline with a drop of 1.59%. Affected by concerns over intensified AI competition, internet technology stocks fell broadly, with Tencent Holdings down 2.28%; the catering sector saw a significant pullback, with Meituan dropping 4.73%. Funds focused on AI applications and restructuring concepts, with KNOWLEDGE ATLAS, MiniMax, and others rising against the trend, while BOER POWER surged over 112% due to restructuring expectations. Market sentiment remains cautious, awaiting guidance from macroeconomic data

- On February 12, Hong Kong's three major stock indices declined collectively, indicating cautious market sentiment after hitting peak levels the previous day.  
- The Hang Seng Index fell by 0.92% to 27,014.81, while the Hang Seng Tech Index experienced a 1.59% drop, and the Hang Seng China Enterprises Index decreased by 1.02%.  
- Concerns over intensified competition among AI models affected various sectors, particularly internet content, retail, and restaurant segments, leading to a generally defensive investor mood awaiting further policy guidance.

MNSO

MINIMAX-WP

UNISOUND

Tianhong Hang Seng TECH ETF(QDII)

HSTECH ETF

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

Hong Kong stock market intraday | Hang Seng Tech Index fell 1.59%, with the restaurant and internet sectors experiencing widespread declines, Meituan dropped 4.73%, and BOER POWER surged 112%

Huachuang Securities stated that at the beginning of the year, domestic multimodal models were updated intensively, with models like Ke Neng 3.0 and Seedance 2.0 significantly enhancing "controllability," marking a leap in AI video from entertainment to industrial production. By reducing the "card drawing" waste rate, the marginal cost of video production converges towards computing power costs. ByteDance focuses on efficiency infrastructure, Kuaishou delves into professional narratives, and Alibaba strengthens vertical e-commerce, collectively driving a revolution in content supply and the revaluation of IP value

- The report highlights recent updates in multimodal AI tools, notably Kuaishou's Kling 3.0 and Byte's Seedance 2.0, indicating a shift towards tools suitable for workflow integration rather than mere entertainment.  
- It emphasizes improvements in controllability, consistency across shots, and enhanced editing capabilities aimed at lowering the waste rate in video production, thus impacting e-commerce and short series production.  
- The analysis forecasts that as production costs trend towards computational expenses, the focus will shift to the value of intellectual property, enhancing the market potential of leading IPs.

Wallstreetcn

Differentiation among major companies in the multi-modal "Deepseek Moment": ByteDance focuses on "efficiency," Kuaishou targets "professionalism," and Alibaba concentrates on "e-commerce"!

A year after DeepSeek's disruptive AI model launch, Chinese firms like Alibaba and ByteDance are set to release new low-cost AI models around the Spring Festival. DeepSeek's initial success prompted rivals to enhance their offerings, with expectations high for upcoming releases. Zhipu AI and ByteDance have already unveiled new models, while DeepSeek and Alibaba are preparing their next-generation products. The trend towards low-cost, open-source AI is reshaping the industry, as Chinese companies aim to compete with U.S. counterparts by lowering operational costs and integrating AI into consumer services.

- Chinese firms DeepSeek, Alibaba, and ByteDance are set to release new AI models around the Spring Festival holiday, aiming to capture consumer interest.  
- DeepSeek's rise in early 2025 has pushed low-cost, open-source AI models to the forefront, significantly influencing the AI industry despite U.S. export controls.  
- The companies are under pressure to deliver innovative models after DeepSeek’s initial release reshaped market expectations and pricing standards in AI technology.

Reuters

A year on from DeepSeek shock, get set for flurry of low-cost Chinese AI models

The short selling amount in the Hong Kong stock market reached HKD 16.05 billion in the half-day session, accounting for 15.3% of the total shortable shares traded. The main shorted stocks include Meituan-W with a short selling ratio of 31.8% and a short selling amount of HKD 1.15 billion; Zijin Mining with a short selling ratio of 35.2% and a short selling amount of HKD 1.06 billion; Tencent Holdings with a short selling ratio of 6.8% and a short selling amount of HKD 850 million; Xiaomi Group-W with a short selling ratio of 25.4% and a short selling amount of HKD 730 million; Alibaba-W with a short selling ratio of 12.5% and a short selling amount of HKD 600 million

Xiaomi Corporation

Zijin Mining

XIAOMI-W

ZIJIN MINING

The short selling in Hong Kong stocks for half a day reached HKD 16.05 billion, accounting for 15.3% of the total turnover of shortable stocks

On February 12th, the Hong Kong stock market closed at noon, with the three major indices collectively adjusting after yesterday's surge, and the Hang Seng TECH Index fell by 1.68%. Technology heavyweight stocks were all weak, with Meituan leading the decline, dropping 4.16%, while Tencent and Alibaba also weakened simultaneously. The catering and retail sectors were dragged down by market sentiment. Despite the overall market weakness, ZIJIN MINING rose against the trend by 2.25%, and YOFC surged by 11.35%. Market funds have entered a wait-and-see period, awaiting inflation data to verify the sustainability of consumer recovery

- On February 12, Hong Kong stocks experienced a technical correction after a previous surge, with major indices all declining.  
- The Hang Seng Index fell 0.89% to 27,024.06, while technology and retail sectors were notably affected, with Tencent down 2.65% and Meituan down 4.16%.  
- Market sentiment is cautious ahead of upcoming macroeconomic data releases, including CPI and unemployment rates, vital for assessing the sustainability of local consumption recovery.

BILIBILI-W

HPC HOLDINGS

TOUYUN BIOTECH

HANVEY GROUP

YOFC

Hong Kong Stock Market Mid-Review | The Hang Seng Index fell 0.89%, technology weights weakened across the board, Meituan plummeted 4.16%, and YOFC surged 11.35%

On February 12th, the three major indices of the Hong Kong stock market collectively weakened during the session, with the Hang Seng TECH Index falling by 1.58%, leading the market decline. Affected by the escalation of the AI model war, the internet and retail sectors experienced widespread declines, with heavyweight stocks such as Tencent Holdings, Meituan, and Alibaba under pressure. Market sentiment has turned cautious, with funds closely monitoring macro data such as retail sales and imports and exports to verify the strength of the economic recovery

- On February 12, Hong Kong's stock indices experienced a collective downturn after reaching yesterday's highs, with the Hang Seng Index down 0.68% to 27,082.16 points.  
- The technology sector faced significant losses, particularly the Hang Seng Tech Index, which fell 1.58%, pressured by concerns over competition in the AI market.  
- Investors are focusing on macroeconomic data for February, especially retail sales and import-export figures, to gauge local consumption recovery and external demand resilience.

JD-SWR

LEMO SERVICES

TJCD

Hong Kong stock market intraday | Hang Seng TECH Index down 1.58%, Tencent down 2.83%, Meituan down 3.38%

The Spring Festival raid tactic of DeepSeek in 2025 has become an industry textbook case. By 2026, everyone has learned this trick. ByteDance, Alibaba, KNOWLEDGE ATLAS, and DeepSeek have intensively released flagship models during the "Spring Festival" period, shifting the focus of competition from purely model performance to "efficiency" and the implementation of "intelligent agents." Analysis indicates that if DeepSeek V4 achieves cost reduction in inference, it will drive AI from standalone apps to being "embedded" in high-frequency applications like WeChat, with Tencent likely becoming the biggest beneficiary

- The 2026 Spring Festival signals intense competition among China's AI giants for market entry, with a surge in flagship model releases this year.  
- Leading players like ByteDance, Alibaba, and DeepSeek are launching multiple AI models to capture consumer attention, with predictions of a "winner-takes-all" scenario emerging from simultaneous releases.  
- While Tencent is expected to benefit most from these developments, the actual market adoption of AI applications hinges on resolving reliability and latency issues during user testing.

China's large model "Spring Festival 档" is launched! Waiting for consumer-grade AI to produce "blockbusters"

Alibaba Group (NYSE:BABA) shares fell 1.4% to $164.21 amid mixed market sentiment. Analysts have varied opinions, with Nomura raising its price target to $237 and Zacks downgrading to a 'strong sell.' The stock has an average rating of 'Moderate Buy' and a target price of $195.17. Institutional investors are increasing their stakes, indicating potential confidence in Alibaba's future despite competition in AI and mixed signals from its cloud and retail sectors.

- Alibaba Group Holding Limited (NYSE:BABA) shares dropped 1.4% during mid-day trading, with a trading volume decline of 37% from the average. 
- Positive sentiment surrounds Alibaba's new AI model, RynnBrain, while competition in AI could impact user acquisition costs and margins. 
- Eighteen analysts rate the stock as a "Buy," with an average target price of $195.17, despite mixed signals from its cloud and retail businesses.

Market Beat

Global X Cloud Computing ETF

Alibaba Group (NYSE:BABA)  Shares Down 1.4%   - Should You Sell?

The Nasdaq Golden Dragon China Index initially fell by 0.6%. Among popular Chinese concept stocks, WeRide fell by 5.5%, NetEase fell by 4%, YUM China, Baidu, Tencent, Alibaba, and Meituan all fell by over 1%. XPeng rose by 1.6%, Li Auto rose by 1.8%, Nio rose by 2.1%, BYD rose by 2.8%, and Xiaomi rose by 3.9%

YUM China

NetEase

BYD Company Limited

Baidu

BYD Company

XPENG-W

BYD COMPANY

XPeng

ByteDance is launching a promotional campaign for its AI apps by giving away over 100,000 tech products, including robot dogs and drones, to Chinese customers for Lunar New Year. This initiative aims to boost user engagement and compete with rivals like Alibaba and Tencent. Winners will receive usage rights for premium electric vehicles integrated with ByteDance's Doubao AI assistant. Analysts suggest this strategy minimizes long-term costs while maintaining visibility. Despite a large user base, monetization remains a challenge for Chinese AI app developers, with only four making it to the top 100 globally by annual recurring revenue.

- ByteDance is promoting its Doubao chatbot by offering over 100,000 tech products and up to 8,888 yuan in red packets to celebrate the Lunar New Year.  
- This strategy aims to boost customer engagement and compete with rivals such as Alibaba and Tencent, while also reducing long-term risks associated with product ownership.  
- Despite a large user base, the Chinese AI app market struggles with monetization, with only four out of the top 100 AI apps by annual recurring revenue being Chinese.

Tip Ranks

ByteDance Offering Free Robot Dogs and EVs as Lunar New Year AI War Heats Up

Feels like $Alibaba(BABA.US) narrative slowly shifting from old-school e-commerce to AI cloud story already. Recent results showed cloud growth driven by AI demand, but profits still pressured due to heavy investment

BABA-WR

Alibaba HK SDR 5to1

$Alibaba(BABA.US) still trading at discount vs global peers despite strong cash flow and ongoing buybacks. Key question is whether AI investment translates into real monetization or just capex burn. If AI cloud scales, long-term upside maybe underestimated 🤔

Lately $Alibaba(BABA.US) feels more like an AI stock than pure e-commerce😂Heavy AI and cloud investment brings long-term hope but short-term profit pressure, so sentiment is split. I’m cautiously bullish, feels like early cloud story but slower.

Today’s Key News Recap

0211 | Dolphin Research Focus: 🐬 Stock 1, $XIAOMI-W(01810.HK) On the evening of Feb 10, Lei Jun live-streamed from Xiaomi Auto's Yizhuang, Beijing plant. He announced the final first-gen SU7 had rolled off the line and shipped, marking the model's official discontinuation, with cumulative deliveries nearing 370k units. Production lines are being retooled for the next-gen SU7, slated for an Apr launch.The first-gen wrap-up validates Xiaomi Auto's mass-production capability and market acceptance. The capacity transition paves the way for a volume ramp of the new model, a near-term positive for order conversion and brand perception, with Xiaomi up over 4% today...

Dutch Bros

Paramount Global

Xiaomi HK SDR 2to1

Microsoft

XIAOMI-WR

Robinhood

Spotify

Coca Cola

NETEASE MUSIC

NTES-S

Shopify 

Unity Software

Warner Bros. Discovery

MSFT Eyes High-Temp Superconductors to Ease AI Power Bottlenecks; BABA's RynnBrain Aims to Give Machines a Brain | Daily News Recap

$Alibaba(BABA.US) is poised to leave everyone else in the dust in the domestic AI field. From self-developed chips, to modules, servers, cabinets, to cloud platforms, and models, the entire supply chain is integrated and self-developed. It's also top-tier globally

$Alibaba.US Using the Olympics to showcase Qwen models and Taobao Vision. Smart soft power move for a tech giant

openclaw models status --agent main🦞 OpenClaw 2026.2.9 (33c75cb) — It's not &#34;failing,&#34; it's &#34;discovering new ways to configure the same thing wrong.&#34;Config : ~/.openclaw/openclaw.jsonAgent dir : ~/.op...

Alphabet - C

Alphabet

Direxion Daily Googl Bear 1x Shares

Direxion Daily GOOGL Bull 2X Shares

openclaw experience, recommend Qwen Max model

From a trading perspective, $Alibaba(BABA.US) feels like a stock constantly caught between macro sentiment and company-specific catalysts. Every time China policy tone improves or US rate expectations change, the price reacts more to macro than earnings. That makes it tricky for short-term traders.The recent focus on cost control and operational restructuring suggests management is prioritizing efficiency rather than aggressive expansion. Personally I see this as building a base, but not yet a strong breakout story unless we get clear cloud growth acceleration or meaningful earnings surprise.

Feb 6 | Dolphin Research focus: 🐬 Stock 1, $BABA-W(09988.HK) Alibaba's Qwen app launched a 'Spring Festival RMB 3bn free-order' campaign today. The first wave centers on AI one-line prompts to order milk tea for free.Notably, WeChat further blocked today the promo passwords for red-envelope campaigns run by both Alibaba Qwen and Tencent Yuanbao. As a result, those keywords can no longer be copied or recognized in private or group chats.The move aims to protect WeChat's platform ecosystem and curb over-marketing that disrupts user experience. It also helps defend its social-traffic moat...

TENCENT-R

Amazon

Roblox

LI AUTO-W

Li Auto

DingDong

NIO-SW

NIO Inc. USD OV

MEITUAN-WR

Tencent HK SDR 10to1

Meituan HK SDR 5to1

Alibaba Qwen's Lunar New Year free-order promo was blocked by WeChat; Nio surged after its first-ever quarterly profit | Daily News Recap

---

Decided to explore HBBD AS SDR rather than buying into the HK market. Pray for long term gain as a small time investor.$Alibaba HK SDR 5to1(HBBD.SG)

MSALIBA@EC2608A(22169.HK)

Hong Kong Stock Market Closing | Hang Seng Index fell 0.86%, losing high ground, Meituan plummeted 4.5% leading the decline in technology and dining sectors, SenseTime surged 6.77% against the trend

CITIC Securities International: Domestic model iteration accelerates valuation recovery of Hong Kong stock technology sector, with Alibaba and Tencent as top picks

Alibaba is rumored to boldly increase investment in Taobao Flash Sale, with no losses for 3 years, striving to surpass Meituan in market share

According to reports, Gaode will release a self-developed embodied navigation base model, allowing robots to achieve cross-scenario delivery and following services

Hong Kong stock market intraday | Hang Seng Tech Index fell 1.59%, with the restaurant and internet sectors experiencing widespread declines, Meituan dropped 4.73%, and BOER POWER surged 112%