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Shanghai StairMed Technology Co., Ltd. has secured RMB 500 million in a strategic financing round led by Alibaba, with participation from Tencent and other investors. This funding will accelerate the development of its brain-machine interface (BMI) technology, following successful clinical implants. StairMed plans to initiate large-scale clinical trials in mid-2026 and expand its neuromodulation portfolio. The company aims to enhance human-machine interaction through collaboration with technology leaders, positioning itself as a key player in the BMI sector.

- Shanghai StairMed Technology Co., Ltd. closed a strategic financing round of RMB 500 million, led by Alibaba with continued support from stakeholders like Tencent and others, raising over RMB 1.1 billion in the past year.  
- The funding will accelerate StairMed's development of its brain-machine interface (BMI) technology, which achieved significant milestones, including China's first clinical trial of a 256-channel invasive BMI system.  
- StairMed also plans to initiate large-scale clinical trials in mid-2026 and advance its neuromodulation efforts with a new deep brain stimulation system targeting neurological disorders.

prnewswire

Tencent Holdings Limited

Tencent

KraneShares 2x Long BABA Daily ETF

BABA 2x Long Daily ETF - GraniteShares

BABA-W

Alibaba

02:41 ETStairMed Secures RMB 500 Million Financing Led by Alibaba, Joined by Tencent

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Alibaba Group Holding Ltd. ADR (BABA) fell 1.38% to $123.73 on Wednesday, underperforming the market despite a positive trading session where the NASDAQ rose 1.16%. The stock is currently 35.78% below its 52-week high of $192.67. Competitors like Bed Bath & Beyond, Rakuten Group, and eBay saw gains, while Alibaba's trading volume was below its 50-day average.

- Alibaba Group Holding Ltd. ADR (BABA) fell 1.38% to $123.73 on a generally positive trading day, while the NASDAQ Composite rose 1.16% and the Dow Jones increased by 0.48%.  
- The stock closed 35.78% below its 52-week high of $192.67, reached on October 2nd, and underperformed compared to competitors such as Bed Bath & Beyond and eBay.  
- Trading volume was 10.3 million, falling short of its 50-day average by 1.0 million.

MarketWatch Automated

Global X E-commerce ETF

ALI HEALTH

Direxion FTSE China Bull 3X

Krne Csi China Internet

Alibaba Group Holding Ltd. ADR Falls Wednesday, Underperforms Market

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Hong Kong stocks performed strongly today, with the Hang Seng Index closing up 505 points at 25,294 points, and the China Enterprises Index and Hang Seng TECH Index rising by 130 points and 106 points, respectively. Technology stocks generally rose, with Tencent, Alibaba, and Baidu all performing well. AI stock KNOWLEDGE ATLAS saw its annual net loss widen, but CICC expects significant revenue growth, leading to a 31.9% increase in its stock price. The overall market turnover reached HKD 291.421 billion

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Hang Seng Index

KNOWLEDGE ATLAS

BIDU-SW

TENCENT

Hang Seng China Enterprises Index

DAMAI ENT

Hang Seng TECH Index

FI2 CSOP HSI

CSOP HS TECH

FI CSOP HSI

E Fund CSI HK Connect Internet ETF

Hwabao CSI HK Equities Internet ETF

FL2 CSOP HSI

"Hong Kong Stocks" The Hang Seng Index closed up 505 points, with AI and pharmaceutical stocks dancing, while airline and metal stocks surged

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Morgan Stanley released a report on the Chinese market, selecting 26 Chinese stocks with strong competitive advantages as the "best business models," including Tencent, Alibaba, and FUYAO GLASS, with most investment ratings being "overweight."

FYG;FUYAO GLASS

FUYAO GLASS

Morgan Stanley selects a list of 26 Chinese "best business model" stocks (table)

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Hong Kong's American Depositary Receipts (ADRs) saw significant gains, with major tech companies like ATMXJ rising over 2% to more than 3%. Notable increases were observed in Alibaba and Meituan. Financial stocks also performed well, with HSBC and AIA's ADRs up nearly 3%, valued at HKD 129.3 and HKD 87.3, respectively. Ping An Insurance and Hong Kong Exchanges and Clearing ADRs rose over 2%, priced at HKD 60.8 and HKD 397. Major banks, including Bank of China and Industrial and Commercial Bank of China, saw increases of nearly 1% to almost 2%.

CoinLive

HSBC Holdings Plc

Hong Kong Exchanges and Clearing (HKEX)

Direxion CSI China Internet Index Bull 2X

Fullgoal CSI 800 Banks ETF

HSBC Holdings plc ADRhedged

HSBC HOLDINGS

Meituan

MEITUAN

STOCKS | Hong Kong ADRs Show Significant Gains

On March 17, DingTalk launched an AI platform named "Wukong," which features powerful automation capabilities such as controlling browsers for price comparisons, automatically creating tasks, and sending summaries to mobile devices. Likened to Sun Wukong's Golden Cudgel, the platform can compare prices across multiple e-commerce sites and generate Excel files. Additionally, Wukong can automate scheduled tasks and generate websites and data animations, demonstrating its "from 0 to 1" creation capabilities

- DingTalk launched an AI platform named "Wukong," capable of automating various tasks such as web browsing and data extraction.  
- The recently released Qwen3.5-Omni model enhances multimedia processing by structuring audio and video content into actionable data.  
- The combination of Wukong's operational abilities and Qwen3.5-Omni's sensory understanding could significantly streamline business processes, transforming insights into execution.

Wallstreetcn

DingTalk's Wukong Gets Its Golden Cudgel

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The popularity of OpenClaw has sparked companies' interest in digital employees. What companies truly need is a system that integrates Agents into the production environment, rather than just smarter tools. Alibaba Cloud's recent "Alibaba Cloud Shrimp Friends Club" series of events focused on the application of Agents in enterprises, including management, system integration, cost control, and other issues, emphasizing how to transform Agents into controllable digital employees. During the event, Alibaba Cloud executives pointed out that the evolution of Agents is moving towards multi-Agent collaboration, and companies' focus has shifted to their practical application capabilities

InfoQ

Guotai MSCI China A ESG General ETF

Pacer Data & Infrastructure Real Estate ETF

Yinhua MSCI China A ETF

Tianhong CSI Computer Theme ETF

Proshares Big Data Refiners ETF

iShares US Digital Infrastructure and Real Estate ETF

Franklin Exponential Data ETF

Invesco Golden Dragon China

Global X Data Center & Dgtl Infrs ETF

Global X Cloud Computing ETF

After OpenClaw became popular, what companies really lack is not smarter lobsters, but a complete onboarding system

The article discusses the evolving concept of AI payments, emphasizing that the focus should be on the user experience rather than the payment process itself. In China, AI payment is seen as an enhancement to existing e-commerce systems, allowing users to make purchases through simple voice commands. The integration of services within platforms like Alibaba's Qwen App exemplifies this trend. The article outlines three implementation paths for AI payments, highlighting the advantages of direct service integration over mimicking user actions. The situation differs in overseas markets, where fragmented systems pose challenges for AI transactions.

The focus of AI payment is not the payment itself.

- Huawei's new AI chip, the 950PR, has received positive feedback from major Chinese tech firms like ByteDance and Alibaba, indicating their intention to place orders.  
- The 950PR chip is designed to be more compatible with Nvidia's CUDA software system and is anticipated to ship around 750,000 units this year, with mass production set to begin next month.  
- This launch comes at a challenging time for Nvidia in China due to restrictions on its AI chips and reflects the growing demand for AI inference computing in the country.

Reuters

EXCLUSIVE-Huawei's new AI chip find favour with ByteDance, Alibaba which plan to place orders, sources say

BABO

36Kr learned that on March 27, at the Feizhu Car Business Ecosystem Partner Conference, it was disclosed that in the past fiscal year, Feizhu's car rental business maintained a strong growth trend, particularly benefiting from the resources, scenarios, and technology of Alibaba's consumer platform. The rental booking volume from Taobao increased by nearly 60% year-on-year, and the number of ordering users grew by 40%. Cross-selling among flight tickets, hotels, and car services reached a new level; for example, orders from users of the aforementioned categories accounted for over 50% of the total for pick-up and drop-off services

36Kr

YieldMax BABA Option Income Strategy ETF

Alibaba's consumer platform drives growth in Fliggy car rentals, with the number of 88VIP ordering users expanding by 40%

Lin Junyang, former head of Alibaba's Tongyi Qianwen, announced his departure from the company in March 2026. He discussed the evolution of AI models, emphasizing the shift from 'reasoning thinking' to 'agentic thinking.' He highlighted the importance of reinforcement learning in enhancing model capabilities and the challenges of integrating thinking and instruction modes. Lin noted that while hybrid models like Qwen3 aim to balance these aspects, practical implementation remains complex due to differing data distributions and behavioral objectives.

Amplify Online Retail ETF

ProShares Online Retail

Lin Junyang's first post after leaving Alibaba: The era of intelligent agents is coming.

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Moonshot AI is exploring a potential Hong Kong IPO amid an $18 billion valuation, though the process is still in early stages with uncertainties. The company has discussed the listing with China International Capital Corp. and Goldman Sachs. While investor interest in AI remains strong, the timing of the IPO is uncertain due to increased scrutiny over red-chip companies in Hong Kong. Moonshot is also raising up to $1 billion in private markets, having already secured over $700 million this year, and is backed by major firms like Alibaba and Tencent.

GuruFocus

GOLDMAN SACHS GROUP INC DEP SHS REPSTG 1/1000TH PRF SER C

GOLDMAN SACHS GROUP INC DEP REP 1/1000TH PRF D

GOLDMAN SACHS GROUP INC DEP SHR REP 1/1000TH PFD SER A

Goldman Sachs

Moonshot AI Weighs Hong Kong IPO as $18 Billion Valuation Emerges

$XTALPI(02228.HK) Goldman Sachs launched the &#34;China AI Healthcare Index&#34; today, with Pharmaron as the top-weighted stock $ALI HEALTH(00241.HK)$JD HEALTH(06618.HK)$PA GOODDOCTOR(01833.HK)$YIDU TECH(02158.HK)$MircroPort Medbot-B(02252.HK)

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MBALIHI@EC2705A Stock Performance Chart

02:41 ETStairMed Secures RMB 500 Million Financing Led by Alibaba, Joined by Tencent

Alibaba Group Holding Ltd. ADR Falls Wednesday, Underperforms Market

"Hong Kong Stocks" The Hang Seng Index closed up 505 points, with AI and pharmaceutical stocks dancing, while airline and metal stocks surged

Morgan Stanley selects a list of 26 Chinese "best business model" stocks (table)

STOCKS | Hong Kong ADRs Show Significant Gains