Broadline Retail

Alibaba

Today’s Key News Recap

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1205 | Dolphin Research Key Focus: 🐬 Stock 1, $BIDU-SW(09888.HK) According to reports, Kunlun Chip (Baidu's AI chip subsidiary) has initiated preparations for listing in Hong Kong, planning to submit the application in the first quarter of 2026 and complete the IPO in early 2027, with the latest valuation of approximately 21 billion RMB. Baidu is the largest shareholder. It has released products such as Kunlun Chip M100 and M300, with tens of thousands of cards deployed, serving as the core foundation of Baidu's AI computing power, and also providing computing power services to external enterprises. The news pushed Baidu's stock price to rise over 8% at one point...

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KraneShares 2x Long BABA Daily ETF

YieldMax BABA Option Income Strategy ETF

BABA 2x Long Daily ETF - GraniteShares

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Baidu Spins Off Kunlunxin for IPO; Ele.me Completes Official Rebranding | Today's Important News Recap

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AI glasses are regarded as the 'next-generation personal mobile gateway' and are also the most likely mobile terminal to challenge smartphones.

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Alibaba, ByteDance, and Li Auto are rushing into the market; are AI glasses becoming the 'next big thing'? (Minutes)

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1202 | Dolphin Research Key Focus: 🐬 Macro/Industry 1. DeepSeek simultaneously launched two official versions of AI models, DeepSeek-V3.2 and DeepSeek-V3.2-Speciale. The former's inference capability is close to GPT-5, with tool invocation reaching the top level of open-source models; the latter won four international competition gold medals, specializing in complex tasks. The models introduce the DSA sparse attention mechanism, significantly reducing inference costs. The dual-model strategy precisely covers different needs, and technological breakthroughs narrow the gap between open-source and closed-source models...

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GraniteShares 2x Long NVDA Daily ETF

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Direxion Daily NVDA Bear 1X ETF

T-Rex 2X Long NVIDIA Daily Target ETF

Global Tech Blitz: Nvidia Invests in Synopsys, Apple AI Shakeup, Alibaba Updates AI Model | Today's Important News Recap

Meituan

Conference Minutes

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The following are the Minutes of the FY25 Q3 earnings call for $MEITUAN(03690.HK) organized by Dolphin Research. For an interpretation of the financial report, please refer to &#34;Meituan: A Loss of Nearly 20 Billion! Did Alibaba Really Succeed in Stealing the House This Time?&#34; 1. Review of Core Financial Data Performance Overview: Total Revenue: 95.5 billion yuan (YoY +2%). Profitability: Operating cost rate 73.6% (YoY +12.9pts), mainly due to rider incentives and rising overseas costs; adjusted net loss of 16 billion yuan, affected by irrational industry competition and strategic investments...

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Meituan (Minutes): 3Q loss peaks, but 4Q will continue the loss trend

Financial Analysis

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$MEITUAN(03690.HK) released its Q3 earnings after the Hong Kong stock market closed on November 28th, being the last among the 'Three Fools' in the food delivery battle. During the summer quarter, which saw the most intense subsidies, Meituan reported a massive operating loss of 19.8 billion, compared to JD.com's 'slight loss' of about 1 billion and Alibaba's remaining profit of approximately 5 billion. As the defending party under attack, Meituan's situation is much more severe compared to Alibaba and JD.com. Key points are as follows: 1. Is Meituan's actual loss 80% of Alibaba's?: First, let's look at the most concerning issue of losses. This quarter, the operating loss of the local commerce segment reached as high as 14.1 billion...

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Meituan: A staggering loss of nearly 20 billion! Did Alibaba really succeed in this takeover?

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1127 | Dolphin Research Focus: 🐬 Macro/Industry 1. The Office of the United States Trade Representative announced that the exemption of certain tariffs on Chinese goods, established under Section 301 due to issues related to technology transfer and intellectual property, will be extended until November 10, 2026. The original exemption was set to expire on November 29. In the short term, this can provide a 'safe period' for Chinese export enterprises in terms of orders and profits, and also reduce costs for American importers and consumers. However, the overall tariff framework remains unchanged, and the competition between China and the U.S. in high-tech fields will continue...

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Alibaba AI Glasses Enter the Market, Meituan Financial Report to be Released Tomorrow | Today's Important News Recap

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1126 | Dolphin Research Key Focus: 🐬 Stocks 1. $MEITUAN(03690.HK) Meituan saw a significant rebound today. Alibaba's China E-commerce Business Group CEO, Jiang Fan, pointed out that the first phase of Taobao Flash Sale's scale expansion has ended, and it has now entered the second phase, which is the 'efficiency optimization' phase. This implies that the disorderly cash-burning competition Meituan faces is expected to ease, leading to a more stable market structure, temporarily alleviating Meituan's profitability pressure. Meituan rose over 5% today. 2. $Baidu(BIDU.US) Baidu announced the establishment of a foundational model R&amp;D department and an application model R&amp;D department...

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Meituan's Stock Rallies Strongly; Li Auto Announces AI Glasses Entry | Today's Important News Recap

The following are the minutes of Alibaba's FY26Q2 earnings call organized by Dolphin Research. For an interpretation of the financial report, please refer to &#34;AI Shapes the Soul, Consumption Shapes the Root, Has Alibaba Finally Stood Up?&#34; 1. Review of Core Financial Information 2. Detailed Content of the Earnings Call Core Information from Management Statements 1. Progress of the &#34;AI + Cloud&#34; Strategy a. Performance: Driven by strong demand for AI, Alibaba Cloud's external commercialization revenue accelerated to a growth of 29%. Revenue from AI-related products achieved triple-digit year-on-year growth for nine consecutive quarters. Market share has comprehensively increased in several sub-sectors (hybrid cloud, financial cloud)...

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Alibaba (Minutes): No AI bubble within three years, Flash Sale UE losses have halved from the peak

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$Alibaba(BABA.US) released its Q2 FY2026 results during US pre-market trading on 25 November. The two key market concerns this quarter centred on investments driven by its food delivery business and the growth trajectory of its cloud operations: Regarding the former, food delivery losses this quarter are estimated at approximately ¥36 billion, falling within the lower end of the company's prior guidance range. Meanwhile, cloud services revenue growth accelerated beyond expectations to 34.5%, with profit margins remaining stable year-on-year – outperforming already robust projections. Bloomberg's consensus estimates were not updated in time for this quarter, rendering them of limited reference value...

SUNART RETAIL

AI shapes the soul, consumption shapes the roots, has Alibaba finally stood up?

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Alibaba F2Q26 Quick Interpretation: The two most concerning issues for the market this quarter—losses caused by food delivery and the growth of the cloud business. For the former, our estimates suggest a loss of around 39 billion, which is at the upper end of the company's previous guidance range, making it an expected but unfavorable news. Meanwhile, the growth rate of cloud business revenue exceeded expectations, accelerating to 34.5%, with the profit margin remaining flat year-on-year, stronger than the already high expectations. Bloomberg's consensus forecast for this quarter was not updated in time, thus having limited reference value. Dolphin Research will consider the latest expectations from major institutions:1) The core Taobao and Tmall business's CMR year-on-year growth rate is 10.1%, consistent with last quarter's growth and in line with market expectations. Considering the base period from last September when a 0.6% merchant service fee was added, the performance is still decent, though not surprising.2) Including food delivery and travel services, the new Taobao and Tmall (domestic e-commerce group) reported an adj. EBITA of 10.5 billion this quarter, with food delivery losses decreasing by 76.5% year-on-year. The latest major institutions' expectations range from about 7.5 to 10 billion, with actual performance at the upper end of expectations, not as concerning as feared.3) Another key indicator, Alibaba Cloud's revenue grew by 34.5% year-on-year this quarter, stronger than the market expectation which had been raised to over 30%, making it the most unexpected point of this performance. However, after excluding internal demand from the group, Alibaba Cloud's growth rate accelerated by 3 percentage points quarter-on-quarter, not as strong as it appears overall. In other words, this quarter, Alibaba's internal demand for cloud services was also stronger.4) The International E-commerce Group's revenue grew by about 10% this quarter, continuing to slow down significantly. However, the corresponding adj. EBITA for this quarter has already turned positive to 160 million, aligning with the previous shift towards refined operations to improve limited profitability. (Too much investment in food delivery and cloud, indeed leaving no room for overseas business investment).5) All other bundled businesses reported a loss this quarter, expanding significantly from over 1 billion last year and last quarter to nearly 3.4 billion. However, major institutions had generally raised their loss expectations to 5 billion, with actual losses slightly less. This mainly reflects investments in Gaode's street view ranking and AI 2C directions like Quark and Qianwen. $Alibaba(BABA.US) $BABA-W(09988.HK) $BABA-WR(89988.HK)

Inter

Alibaba shares fall 1.7% amid muted Hong Kong market sentiment

Quark AI Glasses adds a new production line to increase capacity due to strong demand

Alibaba was the most active stock in Southbound Connect on Dec 11 with mixed fund flows

Southbound Trading Records Net Outflow of Over HK$400 Million from Alibaba

Alibaba-backed AI firm MiniMax is reportedly planning a Hong Kong IPO

Eastern Securities and CGS-CIMB Maintain Buy Rating on Alibaba

DingTalk 8.1.10 Launches AI Dynamic Reply and Other Features

"Alipay is down" becomes a trending topic, sparking user concerns about service stability

Taobao Flash Purchase responds to new management requirements for food delivery platforms

Alibaba's stock rises, analysts maintain rating

Alibaba Became the Most Actively Traded Stock in Southbound Stock Connect (Shenzhen) Yesterday

Alibaba's Damai launches its global live events platform, MAISEAT, as a standalone mobile app worldwide

Meta uses Alibaba's T4 model to fine-tune AI model

ByteDance and Alibaba inquired Nvidia for purchasing H200 chips

Qwen3-TTS of Alibaba Qianyan Fully Upgraded

Baohua Agro Science Co., Ltd. and Hema Collaborate to Build Organic Tea Seed Oil Hamash Village

Alibaba Cloud Launches Function Compute AgentRun to Optimize Enterprise Cost Efficiency