Core Viewpoint - Alibaba's stock (09988) rose over 4%, reaching 137.5 HKD with a trading volume of 8.975 billion HKD, following the launch of its largest model, Qwen3-Max-Preview, which has 1 trillion parameters and significant enhancements in various capabilities [1][1][1] Group 1: Company Developments - Alibaba's subsidiary Tongyi Qianwen launched Qwen3-Max-Preview, its largest model to date, with 1 trillion parameters, improving Chinese and English understanding, complex instruction adherence, and tool invocation while significantly reducing knowledge hallucination [1][1][1] - The stock price of Alibaba increased by 4.32% as of the report, indicating positive market sentiment towards the company's advancements [1][1][1] Group 2: Industry Context - Apple is reportedly advancing its Apple Intelligence release plan in China, expected to launch by the end of the year, with ongoing testing by local employees and collaboration with Alibaba and other partners [1][1][1]

Core Insights - The Chinese humanoid startup X Square Robot has raised approximately $100 million in a funding round led by Alibaba Cloud, bringing total investment to around 2 billion yuan ($280 million) since its launch in December 2023 [1][2]. Funding and Investment - This funding round marks the eighth financing round for X Square Robot, with participation from notable investors including HongShan, Meituan, Legend Star, Legend Capital, and INCE Capital [2]. - The influx of venture capital into humanoid robots is driven by expectations that their integration with generative artificial intelligence will revolutionize human-robot interactions [3]. Technological Developments - X Square Robot has introduced an open-source foundation model for embodied AI named Wall-OSS, which allows developers and the public to access the underlying code for free [6]. - The startup claims to be the first to open source an AI model dedicated to robotics and anticipates the emergence of "robotic butlers" within five years [7]. Product Launches - The company has launched the Quanta X2 robot, which features mop heads for 360-degree cleaning and hands capable of detecting subtle pressure changes, priced at $80,000 according to research firm Humanoid Guide [11]. Market Outlook - X Square Robot is preparing for an initial public offering (IPO) next year, with ongoing revenue generation from sales to schools, hotels, and retirement homes [12]. - The company is in discussions with potential customers in Japan and Singapore, but to penetrate the consumer market, the price of robots needs to decrease to around $10,000, which is expected to be achievable in three to five years [13].

Group 1 - The Hong Kong stock market is experiencing significant inflows from southbound funds, with a total net inflow exceeding 687 billion HKD in the first half of the year, and a record single-day net inflow of 35.88 billion HKD on August 15 [1] - Analysts predict that the total net inflow of southbound funds for the entire year of 2025 could exceed 1.2 trillion HKD, indicating a strong upward trend for the Hong Kong stock market in the second half of the year [1] - The valuation of the China Securities Hong Kong Stock Connect Technology Index has dropped to around 24 times PE, which is at the 30th percentile level over the past decade, suggesting a good safety margin and investment value [1] Group 2 - Four key factors are supporting the positive outlook for the Hong Kong stock market: attractive valuations, potential foreign capital inflow, continuous southbound fund inflows, and the presence of scarce assets in emerging industries such as AI and innovative pharmaceuticals [2] - For ordinary investors, participating in the market through related ETFs is recommended due to the high risks and investment thresholds associated with individual stock investments [2] - The Hong Kong Stock Connect Technology ETF (159101) closely tracks the China Securities Hong Kong Stock Connect Technology Index, selecting 30 large-cap technology leaders, with the top ten stocks accounting for 77% of the weight, covering major players like Tencent and Alibaba, as well as emerging forces like Li Auto and BeiGene [2]

Group 1 - The Hong Kong stock market indices collectively rose on September 8, with technology stocks showing mixed performance, while property stocks surged and the solar energy sector advanced [1] - Alibaba's new model Qwen3-Max-Preview, with over 1 trillion parameters, was launched on September 6, demonstrating leading performance in multiple benchmark tests [1] - Longjiang Securities believes that Qwen3-Max-Preview, as the most powerful language model in the Tongyi Qianwen series, indicates that domestic large models are progressing towards global leadership, potentially accelerating the application of domestic AI and driving demand for computing power [1] Group 2 - The Hong Kong technology sector, represented by the Hang Seng Tech Index, is currently in a historically undervalued range, with expectations of a "catch-up" rally due to continuous inflow of southbound funds and the potential start of a new round of interest rate cuts in the US [2] - The ongoing anti-involution policies, combined with Alibaba's better-than-expected earnings report and rapid iteration of AI large models, suggest that the Hong Kong tech sector may shift focus from "takeout involution" back to AI narratives, with a potential for valuation reconstruction [2] - The Hang Seng Tech Index ETF (513180) includes 30 leading Hong Kong tech companies, focusing on the AI industry chain, with Alibaba, Tencent, Xiaomi, Meituan, SMIC, and BYD expected to become the "seven giants" of Chinese tech stocks [2]

智通财经APP获悉，阿里巴巴-W(09988)涨超4%，截至发稿，涨4.32%，报137.5港元，成交额89.75亿港 元。 消息面上，9月5日晚，阿里巴巴旗下通义千问推出Qwen3-Max-Preview（Instruct），参数量达到1T，为 其迄今为止最大的模型，在中英文理解、复杂指令遵循、工具调用等维度实现了显著增强，同时大幅减 少了知识幻觉。值得关注的是，据IT之家报道，据马克・古尔曼通讯透露，苹果继续推进 Apple Intelligence 在中国的发布计划，预计年底前上线。报道称，苹果正组织中国区员工对相关功能进行测 试，并持续与阿里巴巴及其他合作方推进技术落地工作。 ...

（文章来源：每日经济新闻） 每经AI快讯，9月8日，港股科网股表现活跃，阿里巴巴涨超4%，百度涨近3%，小米、腾讯、网易均涨 超1%。 ...

"看广告的时候，时间好像总是过得很慢。" 有一种心理现象叫"时间错觉"，即人们在做不喜欢的事情时，总是觉得时间过得很慢。不过，在看互联 网广告时，时间过得慢可能并不是错觉。 红星资本局调查发现，多个互联网平台标识为80秒、120秒的广告，实际播放时间皆多于标明时长。互 联网广告正在悄悄"偷走"用户的时间。 实测：多个视频平台"偷"时间 广告实际播放时长比标明时长多4秒 近日，有网友发现：互联网上出现了一种新型"鬼秤"。某些平台在播放广告时，广告页面的倒计时与真 实世界的时间流速不一致，广告的实际播放时间多于其标明的倒计时。 8月28日，红星资本局进入优酷视频App，点击观看电视剧《献鱼》，跳出的广告画面右上角标识 为"119秒 | 会员可关闭此广告"。 对优酷视频App中广告的计时 红星资本局对上述广告播放过程进行了录屏，全程网络流畅，广告画面无卡顿，但右上角的数字标识与 现实中的时间秒数流逝逐渐不一致，最终，该广告共播放123秒。 同时，红星资本局把上述广告录屏放入视频编辑器再次确认，广告时长共计123秒。 8月末，红星资本局对优酷视频、芒果TV和爱奇艺等长视频平台进行测试，发现：这些平台的广告实际 播放时 ...

Investors recently have grown more interested in investing in Chinese stocks. Despite earlier proclamations from some analysts that Chinese stocks are uninvestable, the pendulum is swinging back to cautious enthusiasm. In this article we will appraise Alibaba (Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am ...

Alibaba stock isn't without risks, but its progress lately could set the stage for a turnaround.Few tech giants have faced as sharp a reversal of fortune as Alibaba Group (BABA 3.48%). Once the pride of China's internet economy and a global e-commerce leader, Alibaba has spent the last four years navigating regulatory crackdowns, intensifying competition, and sluggish consumer demand. At its peak in 2020, shares traded above $300. Today, they trade at less than half that, a reflection of both real business ...

点击上图▲立即收听 " 在外卖大战中，小微商户整体毛利率下滑 7.2% ，低于 20 元的低客单价商户毛利率下滑 12.61% 。 " 文 / 巴九灵（微信公众号：吴晓波频道） 外卖大战硝烟散去。 8月底，三大平台晒出财报，仅二季度就一共少赚超200亿元，美团、京东、阿里二季度净利润分别同比下跌89%、50.8%、18%。 "三国杀"结果已经浮出水面： ◎ 第一，外卖市场的蛋糕被做大了两倍多。 加总今年7月三家平台发布的战报，美团、阿里、京东单日外卖总订单量达到2.5亿单；而在本轮外卖 大战打响之前，国内外卖单日总订单量已经在8000万单的水平维持多年。 ◎ 第二，平台烧出去的钱，初见成效。 根据三家财报和业绩会披露，淘宝闪购8月日订单峰值达到1.2亿单，带动闪购整体的月度交易买家数达到 3亿，较4月以前增长200%；京东二季度活跃用户数和购物频次均同比增超40%，几乎全靠外卖拉动；美团外卖日订单峰值突破1.5亿单，仍占据市 场大半壁江山。 ◎ 第三，头部连锁茶饮、咖啡品牌，或成最大赢家。 二季度，瑞幸营收大增近五成，蜜雪集团营收增近四成，古茗增超四成。 而普遍受伤的，是一些线下中小餐饮商家。 这些小商户大多 ...