Zhi Tong Cai Jing·2026-02-02 07:03Core Viewpoint - Alibaba's stock (09988) experienced a decline of over 4%, trading at HKD 162.1 with a transaction volume of HKD 8.676 billion, following the announcement of a significant investment in a promotional campaign for the Spring Festival [1] Group 1: Company Initiatives - Alibaba's subsidiary, Qianwen APP, announced a substantial investment of HKD 3 billion to launch the "Spring Festival Treat Plan," set to officially launch on February 6 [1] - The Spring Festival Treat Plan will collaborate with various Alibaba ecosystem businesses, including Taobao Flash Sale, Fliggy, Damai, Hema, Tmall Supermarket, and Alipay, to provide free meals and entertainment to the public during the Spring Festival [1] - This investment marks the largest amount Alibaba has ever allocated for a Spring Festival campaign, and it is also the highest investment in the ongoing AI competition among major companies this year [1]