--- title: "阿里巴巴港股總市值重回 3 萬億港元，阿里正在重生" description: "阿里巴巴港股在 9 月 17 日上漲 5.28%，股價達到 161.6 港元，總市值重回 3 萬億港元，年初以來股價漲幅接近 100%。摩根大通和高盛等投行上調目標價，市場對阿里估值邏輯轉變，主要受益於 AI 與雲業務的快速增長及傳統電商的企穩反彈。阿里雲業務收入同比增長 26%，AI 產品收入連續 8 個季度保持三位數增長，電商業務也實現客户管理收入同比增長 10%。" type: "news" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/257879230.md" published_at: "2025-09-18T09:40:31.000Z" --- # 阿里巴巴港股總市值重回 3 萬億港元，阿里正在重生 > 阿里巴巴港股在 9 月 17 日上漲 5.28%，股價達到 161.6 港元，總市值重回 3 萬億港元，年初以來股價漲幅接近 100%。摩根大通和高盛等投行上調目標價，市場對阿里估值邏輯轉變，主要受益於 AI 與雲業務的快速增長及傳統電商的企穩反彈。阿里雲業務收入同比增長 26%，AI 產品收入連續 8 個季度保持三位數增長，電商業務也實現客户管理收入同比增長 10%。 9 月 17 日，阿里巴巴港股漲 5.28%，報 161.6 港元，股價創近四年來新高，總市值重回 3 萬億港元。較年初，阿里股價漲幅已經接近 100%。 摩根大通、高盛等多家國際投行也於近期紛紛上調其目標價，市場對阿里的估值邏輯在發生轉變。推動信心回升的主要是兩件事：AI 與雲業務的高速成長，以及傳統電商的企穩反彈。 2025 年第二季度，阿里雲業務收入同比增長 26%，AI 相關產品收入連續 8 個季度保持三位數增長，進入高投入、高增長的正向循環。 與此同時，電商基本盤企穩回升，淘寶閃購業務帶動客户管理收入同比增長 10%，超出市場預期，並助力淘寶 APP 月度活躍用户同比增長 25%。 ### Related Stocks - [BABA.US - 阿里巴巴](https://longbridge.com/zh-HK/quote/BABA.US.md) - [09988.HK - 阿里巴巴-W](https://longbridge.com/zh-HK/quote/09988.HK.md) - [KBAB.US - 2 倍做多阿里巴巴 ETF - KraneShares](https://longbridge.com/zh-HK/quote/KBAB.US.md) - [BABO.US - YieldMax BABA Option Income Strategy ETF](https://longbridge.com/zh-HK/quote/BABO.US.md) - [BABX.US - 2 倍做多 BABA ETF - GraniteShares](https://longbridge.com/zh-HK/quote/BABX.US.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | Alibaba unveils new Qwen3.5 model for 'agentic AI era' | Alibaba has launched its new AI model, Qwen 3.5, which is designed for independent task execution and boasts significant | [Link](https://longbridge.com/zh-HK/news/276045126.md) | | Alibaba's overloaded AI chatbot stops issuing coupons, asks shoppers for patience | Alibaba's AI chatbot Qwen has halted coupon issuance due to overwhelming customer demand, impacting a campaign aimed at | [Link](https://longbridge.com/zh-HK/news/275280822.md) | | India partners with Alibaba.com for export push despite past China tech bans | India's government has partnered with Alibaba.com to support startups and small businesses in reaching overseas buyers, | [Link](https://longbridge.com/zh-HK/news/275932312.md) | | Alibaba (BABA) Upgrades Qwen AI Model as China's Tech Giants Battle for Users | Alibaba has upgraded its AI model to Qwen3.5, enhancing its capabilities in text, image, and video processing. This move | [Link](https://longbridge.com/zh-HK/news/276055492.md) | | U.S. Removes List Linking Alibaba, Baidu to China Military | The Pentagon added several Chinese companies, including Alibaba and Baidu, to its Section 1260H list, linking them to Ch | [Link](https://longbridge.com/zh-HK/news/275920712.md) | --- > **免責聲明**：本文內容僅供參考，不構成任何投資建議。