BABA(HK:09988) Mei Ri Jing Ji Xin Wen·2025-11-24 09:28Market Overview - The Hong Kong stock market experienced a strong rebound, with the Hang Seng Index closing at 25,716.50 points, up 496.48 points, a rise of 1.97% [1] - The Hang Seng Tech Index closed at 5,545.56 points, increasing by 150.07 points, a gain of 2.78% [4] Alibaba's Performance - Alibaba (HK09988) saw a significant recovery after a previous decline of nearly 20%, with a maximum intraday increase of nearly 6% and a final closing rise of 4.67% [3] - The AI assistant app, Qianwen, launched by Alibaba, achieved over 10 million downloads within a week, surpassing competitors like ChatGPT and Sora, marking it as the fastest-growing AI application in history [6] Analyst Insights - Dongfang Securities highlighted Alibaba's strengthened AI application layout through Qianwen, predicting enhanced full-stack AI advantages and potential for multi-directional growth within Alibaba's business ecosystem. They maintained a target price of HKD 206.11 and a "buy" rating [6] - CMB International emphasized Alibaba's ambition in C-end AI applications, reaffirming its leadership position as a full-stack AI provider and predicting accelerated profitability and valuation recovery. They maintained a target price of USD 204 for Alibaba's US stock [6] Sector Performance - The technology sector saw widespread gains, with notable increases in stocks such as Kuaishou (over 7%), NetEase (over 5%), and Baidu (over 4%) [7] - Other sectors also performed well, including innovative pharmaceuticals and automotive stocks, with GAC Group rising over 12% [7] Future Outlook - Goldman Sachs' chief strategist for Chinese stocks, Liu Jinjun, stated that the current AI-driven market rally is not a bubble, as local tech companies still have room for growth in valuation and profitability [9] - The firm forecasts a 12% to 13% profit growth for Chinese companies next year, significantly higher than the expected 2% to 3% for this year, with an overall market upside of about 30% by 2027 [9]