Hua Er Jie Jian Wen·2025-09-09 08:44Core Viewpoint - Alibaba is preparing a significant offensive in the local lifestyle service market, targeting industry giant Meituan's core territory, with plans to launch a new group buying product and evaluation system [1] Group 1: Business Strategy - Alibaba will hold a major business conference on September 10, where it is expected to unveil a new group buying product and evaluation system, marking a comprehensive push into local lifestyle services [1] - The company plans to restart Koubei and leverage Gaode Map to develop self-operated group buying services, aiming to reconstruct the local consumption decision-making system to compete with Meituan's Dianping [1][6] - This marks the third major restart of Koubei since its acquisition in 2008, with a clear strategic goal to create an independent consumer decision evaluation system [6] Group 2: Market Reaction - The market has reacted positively to Alibaba's strategic moves, with its U.S. stock rising by 3% in pre-market trading [1] - Following the announcement of these initiatives, Alibaba's stock price surged over 4% on September 8, and its Hong Kong stock also performed well on September 9, with a net inflow of 5.146 billion HKD [6] Group 3: Competitive Landscape - Meituan's stock fell by 2.3% in response to Alibaba's upcoming initiatives, indicating a competitive pressure in the market [4] - Alibaba's entry into the instant retail space is seen as a response to intensified competition, with Meituan and JD also launching substantial support plans for their delivery services [7][8] Group 4: Financial Performance - Alibaba's adjusted EBITA showed a year-on-year decline, attributed to investments in the "Flash Purchase" business and user acquisition costs, reflecting the company's commitment to strategic investments in this area [8] - HSBC's report indicates that Alibaba will continue to increase investments in instant retail and delivery services, which may impact short-term profitability but is expected to be reflected in the stock price [8] Group 5: Cloud Business - In the AI cloud market, Alibaba holds a leading share of 35.8%, surpassing the combined market share of the second to fourth players [12] - The AI cloud market is projected to grow by 148% by 2025, with Alibaba's investments in AI expected to create a differentiated advantage and enhance its market leadership [12]