Zhi Tong Cai Jing·2026-01-12 04:04Core Viewpoint - Alibaba-W (09988) saw a rise of over 4%, closing at HKD 152.8 with a trading volume of HKD 12.93 billion, indicating positive market sentiment towards the company amid ongoing regulatory developments in the industry [1] Group 1: Regulatory Environment - On January 9, the State Council's Anti-Monopoly and Anti-Unfair Competition Committee announced an investigation into the market competition status of the food delivery platform service industry [1] - Taobao Flash Purchase announced its commitment to cooperate with the industry market competition investigation and to strictly implement compliance responsibilities [1] Group 2: Company Performance and Outlook - CITIC Securities maintained a "Buy" rating for Alibaba, highlighting the company's increased investment in "consumption + AI" and accelerated development of its cloud business [1] - The company is focusing on AI and international expansion, with a significant investment of HKD 380 billion in infrastructure to enhance its global competitiveness [1] - While the e-commerce segment remains stable, growth is slowing; however, losses in Flash Purchase are narrowing, and it holds the top market share [1] - The long-term dual-core driving logic for Alibaba is clear, with controllable investment pace, indicating strong long-term value potential [1]