Sou Hu Cai Jing·2025-09-17 02:07Group 1 - Jack Ma, the founder of Alibaba, was recently spotted at the HHB music bar in Hangzhou, creating a lively atmosphere as attendees recognized him and cheered [1] - The HHB music bar, founded by Jack Ma in January 2019, aims to provide a space for young people to enjoy good drinks, music, and friends, without a profit motive [3] - Jack Ma's recent appearances at Alibaba's campus indicate his highest level of direct involvement in company affairs in five years, particularly focusing on the strategic layout in the AI sector [5] Group 2 - Speculation arises regarding Jack Ma's potential return to management as he actively engages with senior management about business progress, especially in AI [5] - Alibaba underwent a significant business restructuring in August 2025, transitioning from a "1+6+N" framework to four core departments, seen as a crucial move to address market competition [5] - Although there is no official confirmation of Jack Ma's return, the company emphasizes its accelerated pace in responding to industry challenges [5]