智通财经网·2025-10-17 06:43Core Viewpoint - Alibaba's stock has dropped over 4%, currently trading at 154.4 HKD, with a trading volume of 13.466 billion HKD, amid the upcoming 2025 "Double 11" e-commerce promotion focusing on instant retail [1] Group 1: E-commerce Strategy - The "Double 11" event has entered a critical phase, with instant retail becoming a key competitive focus for e-commerce [1] - Taobao/Tmall has launched a 3 billion HKD live streaming deposit red envelope campaign, allowing users to receive up to 2000 HKD daily [1] - For the first time, Taobao Flash Sale is participating in "Double 11," offering 50% off takeout red envelopes for 88VIP members during the event [1] Group 2: Financial Projections - Zheshang Securities forecasts Alibaba's Chinese e-commerce revenue for FY26Q2 to be 126.9 billion HKD, representing a year-over-year growth of 11.6% [1] - The EBITA margin is projected to be 6.8%, showing a significant decline due to substantial investments in instant retail during Q3 [1] Group 3: Business Synergies - The company aims to enhance user activity and transaction frequency through high-frequency orders from food delivery, which will synergize with traditional e-commerce operations [1] - The dual strategy of Ele.me and Gaode in the offline business is expected to create new growth opportunities for Alibaba's e-commerce segment [1]