Xin Lang Ji Jin·2025-09-25 11:45Group 1: Market Performance - Hong Kong stocks continue to rise, with Xiaomi Group-W leading the gains, rising over 5% at one point and closing up 4.48% [1] - Other notable performers include Bilibili-W, which rose over 2%, and Kuaishou-W, which increased by more than 1% [1] - Alibaba-W, after a significant increase of 9% the previous day, saw a slight adjustment, closing down 1.15% [1] Group 2: Key Company Developments - Xiaomi is set to launch its new flagship phone series, Xiaomi 17, featuring the latest Snapdragon 8 processor and its own operating system, with ambitious revenue targets of 700 billion yuan over the next three years [4] - Alibaba is enhancing its AI strategy with additional investments and partnerships, including a collaboration with NVIDIA, and has launched seven new AI models [4] - Analysts believe Alibaba Cloud has a competitive edge in the AI sector, benefiting from strong demand and infrastructure [4][5] Group 3: Investment Insights - The internet sector in Hong Kong is seen as highly elastic, with liquidity easing boosting valuations, and AI expectations replacing previous narratives of intense competition [6] - The Hong Kong Internet ETF (513770) has seen significant growth, with a recent market cap exceeding 11.5 billion yuan and daily trading volumes increasing [10] - The current price-to-earnings ratio for the Hong Kong Internet Index is 26.19, indicating a relatively low valuation compared to historical levels and other markets [8]