此外，高盛近日上调了阿里巴巴未来3年资本开支预测，大幅上调至4600亿元，为市场预测最高。该行 指出，在AI模型突破及芯片供应多元化支持下，高盛上调阿里未来三季度云收入按年增长率至31%、 38%、37%。高盛指出，虽阿里近期盈利因即时电商投资或亏损下跌，但市场应关注淘宝天猫平台初期 盈利转势及国际云端增长潜力，认为股价回调是买入机会。 阿里巴巴-W(09988)反弹逾4%，截至发稿，涨4.05%，报161.9港元，成交额139.19亿港元。 消息面上，日前，淘宝公布"双11"活动时间表，淘宝"双11"将于10月15日晚8点启动，持续至11月11 日。相较于往年，今年"双11"不仅周期更长，淘宝还推出了预售、满减、红包、现货直降等玩法。天猫 双11将于今晚8时正式开启。天猫官方释出的信息显示，今年天猫双11官方立减85折基础上，再叠加9折 消费券、行业品类券、购物金等。 ...

每经AI快讯，阿里巴巴-W(09988.HK)反弹逾4%，截至发稿，涨4.05%，报161.9港元，成交额139.19亿 港元。 ...

Core Viewpoint - Alibaba's stock rebounded over 4% following the announcement of its "Double 11" shopping festival and an upgrade in capital expenditure forecasts by Goldman Sachs [1] Group 1: Alibaba's Stock Performance - Alibaba's stock (09988) increased by 4.05%, reaching HKD 161.9, with a trading volume of HKD 13.919 billion [1] Group 2: Double 11 Shopping Festival - The "Double 11" event on Taobao will start on October 15 at 8 PM and run until November 11, featuring a longer duration and various promotional strategies such as pre-sales, discounts, and cash vouchers [1] - Tmall's "Double 11" will officially commence at 8 PM, offering an 85% discount along with additional 10% coupons and shopping credits [1] Group 3: Goldman Sachs Forecast - Goldman Sachs raised Alibaba's capital expenditure forecast for the next three years to HKD 460 billion, the highest in market predictions [1] - The firm also increased its year-on-year growth rate estimates for Alibaba's cloud revenue for the next three quarters to 31%, 38%, and 37% respectively [1] - Despite recent profit declines due to investments in instant e-commerce, Goldman Sachs suggests that the market should focus on the initial profitability shift of Taobao and Tmall platforms and the growth potential in international cloud services, viewing the stock price dip as a buying opportunity [1]

以上内容与数据，与有连云立场无关，不构成投资建议。据此操作，风险自担。 恒生中国企业ETF紧密跟踪恒生中国企业指数，指数追踪以H股形式在香港上市的中国内地企业表现。 其选股范畴包括所有在联交所主板作第一上市的H股公司。 截至2025年10月15日，恒生中国企业指数(HSCE)前十大权重股分别为阿里巴巴-W(09988)、腾讯控股 (00700)、小米集团-W(01810)、建设银行(00939)、美团-W(03690)、中国移动(00941)、工商银行 (01398)、比亚迪股份(01211)、中国平安(02318)、中芯国际(00981)，前十大权重股合计占比55.78%。建 议持续关注恒生中国企业ETF(159960)。 10月15日，受美联储降息预期提振，港股早盘高开，恒指、恒科指双双涨超1%，科网龙头大面积飘 红。午后港股再度冲高，恒生中国企业ETF(159960)现涨1.63%，成分股中国人寿(02628)上涨4.93%，海 底捞(06862)上涨4.52%，泡泡玛特(09992)上涨4.33%，紫金矿业(02899)，吉利汽车(00175)等个股跟涨。 隔夜美联储大消息，鲍威尔暗示保留了10月降息 ...

Core Insights - The Hong Kong stock market is experiencing a positive trend in AI-related stocks, with significant gains in companies like Bilibili, Alibaba, Xiaomi, Kuaishou, Tencent, and Meituan [1] - The Hong Kong Internet ETF (513770) has shown a strong performance, with a recent increase of 2.37% and a positive sentiment from investors reflected in its premium rate [1][3] - Analysts are optimistic about the long-term prospects for Hong Kong stocks, citing the ongoing global interest rate cuts and the accelerating development of the AI industry in China [3] Market Performance - The Hong Kong Internet ETF (513770) has seen a net inflow of 130 million yuan over the past five days, indicating strong investor interest [3] - The ETF's latest scale has surpassed 11 billion yuan, marking a historical high, with an average daily trading volume exceeding 600 million yuan [9] - The current price-to-earnings (PE) ratio of the Hong Kong Internet sector is at 24.22, which is considered low compared to historical averages [3][7] Company Developments - Major companies like Alibaba and Tencent are making significant advancements in AI, with Alibaba forming a new AI team and Tencent's AI model achieving top rankings in global assessments [3] - The top three holdings in the Hong Kong Internet ETF are Alibaba (18.92% weight), Tencent (15.60% weight), and Xiaomi (11.54% weight), collectively representing over 73% of the ETF's total holdings [5][6] Industry Trends - The AI sector is driving a fundamental shift in the narrative surrounding Hong Kong's internet stocks, moving from user growth to AI-driven growth opportunities [3] - The Hong Kong Internet sector has shown higher elasticity this year, outperforming the Hang Seng Tech Index significantly [7]

中经记者李静北京报道 近期，有北京的网友发现，在美团和饿了么上可以下单京东的七鲜小厨外卖。 七鲜小厨是今年7月，外卖大战如火如荼期间，京东推出的合营品质餐饮制作平台，采用的是"菜品合伙人+自营门店"的重资产运营方式，并且，此前只在京 东外卖平台独家销售。 京东方面对记者表示："七鲜小厨始终保持开放合作的心态，只要消费者有需求，其他平台也愿意，我们非常乐于与其他平台合作。" 《中国经营报》记者观察发现，京东外卖曾是今年京东"6·18"大促时的重点发展项目，但在今年"京东11.11"的惊喜开放日上，却并未看到京东外卖的身影。 从对抗到合作 在6月中旬，京东集团创始人、董事局主席刘强东亲自预告，京东外卖将推出一个截然不同的商业模式，且期待这一模式能彻底解决食品安全问题，让消费 者买到高性价比且安全的食品。 7月份七鲜小厨开业首日，订单量便出现了爆单。紧接着，京东就宣布计划投入百亿元资金，三年内布局万家店铺；同时将投入10亿元现金，在全国招募菜 品合伙人。 七鲜小厨此番的渠道扩张其实并非偶然。 此前，七鲜小厨仅入驻京东秒送，首店开业时，七鲜小厨业务负责人刘斌在接受记者采访时就明确表示："我们的心态是非常开放的，只要消 ...

Core Insights - The 2025 Double Eleven shopping festival has officially begun, with Tmall launching pre-sales on October 15, offering significant discounts and various coupons to attract consumers [1] - Competitors like Suning, Douyin, and JD.com have also initiated their promotions early, aiming to capture market share in the upcoming Double Eleven event [3][5] Group 1: Tmall Promotions - Tmall is providing an 85% discount along with additional 10% coupons, industry-specific coupons, and shopping credits, enhancing the overall discount strategy [1] - The 88VIP coupon package has reached a record value of 3,250 yuan, including various benefits such as no-threshold 10% coupons and travel vouchers [1] Group 2: Competitor Strategies - Suning launched its Double Eleven promotions early, starting on September 30, with a "super subsidy" plan offering tiered discounts of 10%-20% on essential products [3] - Douyin's e-commerce platform introduced a "Double Eleven Good Goods Festival" with discounts of 15% or more on key items, while JD.com extended its promotional period to 37 days, the longest in history [3][4] Group 3: Market Trends - This year's Double Eleven sees a trend of earlier start times and extended promotional periods across platforms, reflecting a shift in consumer behavior towards more rational spending [5] - Simplified discount rules, such as "official price cuts" and "single item discounts," are becoming the mainstream approach, although some consumers report confusion regarding actual discount levels [5]

Core Insights - Tmall's Double 11 sales event will start pre-sales on October 15 at 8 PM [1] Promotions and Offers - Tmall is offering 88VIP members a total of 3,250 yuan in shopping vouchers [1] - Discounts include 50% off on food delivery through Taobao Flash Sale and a total of 30 billion yuan in live-streaming red packets [1] - Pre-sale items can be secured with a 0 yuan deposit, and national subsidies will offer products at up to 50% off [1] - Additional discounts include an 85% reduction and the ability to stack a 9% off coupon with no minimum spending requirement [1] - Consumers can also access official subsidies worth up to 10,000 yuan [1]

Group 1 - Dongfang Hongyuan announced its Q3 2025 13F filing with a total holding of $1.292 billion, with the top ten holdings accounting for 92.45% of the portfolio [1] - Nvidia is the largest single holding, with 1,266,061 shares representing 18.29% of the portfolio, valued at $236,221,661 [1] - Alphabet follows as the second largest holding with 920,311 shares, valued at $224,141,744, making up 17.35% of the portfolio [1] - Other significant top five holdings include MicroSectors 3x Leveraged FANG+ ETN at 11.20%, ProShares 3x Long Nasdaq ETF at 9.61%, and Meta Platforms at 7.70% [1] Group 2 - The fund reduced its holdings in 12 positions, notably decreasing its stake in Netflix by 71.51% and cutting its Amazon position by 50.06% [2] - Nvidia shares were reduced by 1,590, resulting in a 0.13% decrease in holding [2] - Other reductions include Apple by 430 shares, Microsoft by 243 shares, Alphabet by 1,171 shares, and Tesla by 250 shares, each with a 0.13% decrease in holding [2]

Core Viewpoint - Tmall's Double 11 shopping event will officially start on October 15 at 8 PM, featuring significant discounts and promotional offers [1] Group 1 - Tmall will offer an official discount of 15% off the original price, in addition to various coupons including a 10% consumption coupon, industry category coupons, and shopping credits [1]