Core Viewpoint - Alibaba-W (09988) announced the grant of 2,477,600 shares as employee rewards, which represents approximately 0.01% of the total issued shares as of the announcement date, pending acceptance by the recipients [1] Summary by Relevant Sections - **Employee Rewards** - The company plans to grant 2,477,600 shares to several employees as part of its 2024 plan [1] - This share grant is contingent upon acceptance by the recipients [1] - **Share Impact** - The awarded shares account for about 0.01% of the total issued shares, excluding treasury shares, as of the announcement date [1]

智通财经APP讯，阿里巴巴-W(09988)发布公告，公司于2025年9月4日，根据2024年计划的条款向若干 员工授予涉及247.76万股相关股份的奖励(占本公告日期已发行股份总数(不包括库存股份)约0.01%)，但 须待被授予人接纳后方可作实。 ...

Core Viewpoint - Alibaba-W (09988.HK) announced the grant of 2,477,630 shares as rewards to certain employees, representing approximately 0.01% of the total issued shares as of the announcement date, pending acceptance by the recipients [1] Summary by Categories Employee Incentives - The share rewards aim to attract and retain talent by recognizing outstanding performance and contributions to the group [1] - The program is designed to provide incentives to recipients who will contribute their knowledge, experience, expertise, and services, which are crucial for the group's success, sustainability, and development [1] - Aligning the interests of the recipients with those of the group and its shareholders is a key objective of the share grant [1]

Core Insights - The global economic environment has created multiple uncertainties for the development of Chinese brands, with a total brand value of 34,278.02 billion yuan, reflecting a slight growth of 1.68% [1][4]. Brand Value Rankings - The top three brands in the 2025 list are Tencent with a brand value of 9,151.37 billion yuan, Alibaba at 6,658.33 billion yuan, and China Ping An at 1,758.50 billion yuan, which saw a 5% increase in value [4]. Brand Precision Trends - Three trends in brand precision elevation have been identified: 1. AI technology is transitioning from a symbol of corporate capability to a strategic application, enhancing brand value and operational precision [3]. 2. Multi-brand combinations are shifting from full category coverage to scenario-based collaboration, focusing on specific user pain points [3]. 3. The approach to internationalization is moving away from a "one-size-fits-all" strategy to a localized framework that ensures global consistency while integrating into local ecosystems [4]. Industry Distribution - The distribution of brands on the list remains stable compared to 2024, with 23 brands from the finance and consumer sectors and 9 from the technology sector [4]. Growth Performance - Despite a slowdown in brand growth due to geopolitical and economic adjustments, seven brands achieved double-digit growth, including Anta, Meituan, Pinduoduo, Haier, BYD, CATL, and Geely, indicating strong performance in key sectors like new energy vehicles and internet technology [5].

香港交易及結算所有限公司及香港聯合交易所有限公司（「香港聯交所」）對本公告的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不會就本公告全部或任何部分 內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 我們只有單一類別的股份，每一股份對應一份表決權。由於阿里巴巴合夥的董事提名權在 《香港聯交所證券上市規則》（「香港上市規則」）項下被歸類為不同投票權架構（「不同投票權架 構」），我們被視為一家有不同投票權架構的公司。股東及有意投資者應注意投資具有不同投 票權架構的公司的潛在風險。我們的美國存託股份（每股美國存託股份代表八股普通股）於紐 約證券交易所上市，股份代號為BABA。 Alibaba Group Holding Limited 阿里巴巴集團控股有限公司 （於開曼群島註冊成立的有限責任公司） （股份代號：9988（港幣櫃台）及89988（人民幣櫃台）） 公告 根據2024年計劃授出獎勵 授出獎勵之詳情 有關授予被授予人獎勵的詳情如下： 授出日期： 2025年9月4日 被授予人及獲授獎勵下 相關股份的數目： 根據2024年計劃已授予若干員工涉及2,477,630股相 關股份的獎勵。 上 ...

Core Insights - The article highlights the implementation of new AI content identification regulations in China, aimed at enhancing content credibility and combating misinformation [3][4][5] - Sequoia Capital's investment outlook emphasizes five key AI sectors with a projected market potential of $10 trillion, indicating significant growth opportunities in the AI industry [9][6] Regulatory Developments - The new AI identification regulations, effective from September 1, require explicit and implicit labeling of AI-generated content to mitigate the risks of misinformation [3][4] - The regulations are expected to drive compliance among AI platforms, potentially increasing operational costs for smaller companies and accelerating industry consolidation [4] Market Opportunities - Sequoia Capital identifies five focus areas for AI development over the next 12-18 months: persistent memory, seamless communication protocols, AI voice, AI security, and open-source AI [9] - The report predicts a tenfold to ten-thousandfold increase in computational power consumption by knowledge workers, creating substantial opportunities for emerging companies specializing in AI applications [9] Company Developments - OpenAI's acquisition of Statsig for $1.1 billion marks a strategic shift towards application commercialization, with a focus on enhancing ChatGPT and Codex products [9] - Meituan's launch of the Longcat-Flash-Chat model, featuring a 560 billion parameter architecture, demonstrates significant advancements in AI capabilities and cost efficiency [10][11] Performance and Challenges - Recent performance issues with GPT-5 and Claude 4.1 have raised concerns about model stability, highlighting the trade-offs between efficiency optimization and performance reliability [14] - The UItron multi-modal AI agent developed by Zhejiang University and Meituan has excelled in various evaluations, showcasing its capabilities in complex task execution [15] Financial Highlights - Alibaba's market value surged by $36.8 billion following positive Q2 earnings and rumors of a new AI chip, reflecting investor confidence in AI-driven growth [19] - Cloud-based AI company Yunzhisheng reported a 457% increase in revenue from its large model, indicating strong demand for AI solutions in various sectors [20] Industry Trends - The article discusses a shift from cost-focused strategies to building competitive advantages through compliance and ecosystem development in the AI industry [23][25] - The success of AI in healthcare, exemplified by the iAorta model, underscores the importance of integrating AI into existing market value chains rather than creating entirely new markets [26]

Group 1 - Citibank China responds to UnionPay's termination of its membership, stating that corporate business's domestic and international payment and collection services remain unaffected [1] - Alibaba International Station held the world's largest B2B SME summit, CoCreate 2025, in the US, highlighting a 33% increase in GMV during the September procurement festival due to AI-driven multi-modal search [1] Group 2 - Meituan launches the first free return shipping service in the instant retail industry, covering various retail brands and providing a seamless shopping experience for users [2] Group 3 - Google wins a significant antitrust ruling, with its parent company Alphabet's market value increasing by $230 billion following a judge's dismissal of the DOJ's request to sell Chrome and Android [3] - Hema Neighborhood will cease operations on October 4, focusing future efforts on the Hema "Fresh + NB" model, planning to open nearly 100 new stores [3] Group 4 - "Zhifang" completes 7 rounds of financing totaling hundreds of millions in the past six months, with funds directed towards the development of its core models and global market expansion [4] Group 5 - AI4S LAB, a one-stop intelligent life sciences research platform, has been launched by Peking University Shenzhen Graduate School and Baidu Intelligent Cloud, integrating key research elements [5] Group 6 - Lenovo unveils the world's first vertical rotating screen AI PC, ThinkBook VertiFlex, which supports dual-mode switching between horizontal and vertical displays [7] Group 7 - Tencent's mixed yuan game visual generation platform 2.0 has been upgraded, enhancing capabilities for game art design and content generation [8] Group 8 - Russia will implement a reciprocal visa-free policy for Chinese citizens, promoting closer ties and facilitating trade and personnel exchanges between the two countries [9] - China successfully launched the experimental satellite No. 29, marking the 592nd flight of the Long March series rockets [9] Group 9 - Nanjing initiates a new round of automobile consumption subsidies, offering tiered financial incentives for new car purchases based on price brackets [10] Group 10 - New policies to expand service consumption are expected to be introduced soon, focusing on enhancing high-quality service supply and promoting inbound tourism [11]

每经记者｜郑雨航 每经编辑｜何小桃 高涵 ① 【三大期指涨跌不一】道指期货跌0.01%，标普500指数期货涨0.22%，纳指期货涨0.47%。 ⑧【白宫今日开始面试美联储主席候选人】据央视新闻，美国财政部长贝森特定于当地时间9月5日开始，对美联储主席鲍威尔的11位潜在继任者展开密集 面试。据悉，这轮面试将以线下或视频通话形式进行，并可能持续至下周。专家指出，此次面试是在"美联储是否能保持独立性的生存危机"背景下进行 的。 ⑨北京时间20:30，美国8月非农就业人口变动发布。华尔街预计，今晚非农报告将为美联储在本月恢复降息扫清道路，从而推动市场情绪走向乐观。 （免责声明：文章内容和数据仅供参考，不构成投资建议。投资者据此操作，风险自担。） 记者|郑雨航 编辑|何小桃 高涵 易启江 ② 【中概股盘前多数上涨】中概股盘前多数上涨，阿里巴巴涨约3%，拼多多涨近1.5%，京东涨超1%，网易涨近1%。 ③ 【加密货币概念股盘前走强】加密货币概念股盘前走强，American Bitcoin涨超7%，BMNR涨超4%，IREN涨近4%，Strategy、SharpLink Gaming、Riot Platforms涨超2%。 ...

Core Insights - The ongoing competition among food delivery platforms has led to significant changes in consumer behavior and business operations, with many small businesses experiencing increased order volumes but reduced profit margins [4][5][8]. Group 1: Market Dynamics - The competition among major food delivery platforms, including Meituan, Ele.me, and JD, has intensified, resulting in a shift in market share, with Ele.me gaining an advantage over Meituan [2][3]. - Delivery riders have reported a decrease in order volumes by 20-30% since the peak in July, with a notable drop in delivery fees and incentives [2][3]. - Consumer preferences have shifted, with 80% of surveyed individuals indicating a change in dining habits, leading to increased reliance on food delivery services [8]. Group 2: Business Impact - Many small businesses are experiencing a paradox where order volumes have doubled, but profit margins have shrunk significantly, with some reporting that 30% of their orders result in losses [4][5][6]. - The cost of labor has increased due to the surge in order volumes, leading to higher operational costs for businesses [6][7]. - Despite the challenges, some businesses are still optimistic about the potential for increased customer traffic through delivery platforms, hoping for continued subsidies to attract more customers [7][8]. Group 3: Financial Performance - The financial performance of the major delivery platforms has deteriorated, with Meituan's net profit dropping by 89% and JD's by 50.8% in the second quarter [8][9]. - Analysts predict that the ongoing competition could result in a loss of approximately 92 billion yuan over the next year, highlighting the unsustainable nature of the current subsidy war [9].

长沙晚报掌上长沙9月5日讯（全媒体记者 吴鑫矾）8月31日晚，长沙44岁店主陈秀华不慎被反锁在商铺冷库中， 所幸一名淘宝闪购城市骑士在送餐途中听到其急促撞门和呼叫声中，将其营救。事后，陈秀华专程为救人骑士刘 旭及站点送去锦旗、鲜花和早餐，并发长文感谢这位"天降救星"。 "我只是做了一件力所能及的事情，在当时的紧急情况下，救人是一种本能反应，她能够平安，我也觉得很幸 运。"刘旭说，他是一名刚满30岁的外卖骑士，目前已经在淘宝闪购饿了么跑单已有5年。在他救人的事迹在网上 传开后，老婆也将事情讲给即将满1岁的女儿听。9月7日，他的女儿即将满1岁。 "平时，我们的站点和面食店的老板娘挨着，大家日常也会打照面，救她的时候，附近只有我一个人，可能我真 的是'天选'，但我觉得，作为一名外卖员，力所能及的善意之举可以帮助到他人，我也很开心。我也希望这份善 意的传递可以成为女儿最好的生日礼物。"刘旭说。 据悉，自8月18日起，阿里巴巴集团和蚂蚁集团旗下的20多个业务品牌，共同宣布推出"城市骑士·橙意计划"，全 面升级城市骑士保障激励。其中，"橙意计划"会对于见义勇为、助危救困等义举，从跳水救人到拾金不昧，骑士 的每份善行都将受 ...