Zhi Tong Cai Jing·2025-09-08 02:43Core 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]