Ge Long Hui A P P·2025-09-01 03:56Group 1 - Alibaba's strong performance led to a 17% increase in its stock price, positively impacting the Hang Seng Tech Index, which rose by 1.29% and has a year-to-date increase of 27.51% [1][2] - Alibaba's second-quarter results showed a significant increase in Taobao flash purchase user numbers, alleviating market concerns, and cloud business revenue grew by 26% year-on-year [1] - Alibaba announced plans to invest 380 billion yuan in AI over three years and is developing a new generation of AI chips compatible with Nvidia's CUDA ecosystem, with domestic companies handling manufacturing [1] Group 2 - SMIC plans to issue shares to acquire minority stakes in its subsidiary, SMIC North [2] - The positive earnings report from Alibaba prompted a reevaluation of the investment value of the Hang Seng Tech Index, highlighting the core role of internet giants in the AI industry's growth [2] - The Hang Seng Tech Index ETF has seen significant inflows, with 528 million yuan flowing in over the past ten days, and a year-to-date share increase of 102.3% to 4.224 billion shares [2] - The current PE (TTM) of the Hang Seng Tech Index is 21.23, which is below the historical average of 18.87%, indicating a potential undervaluation [2]