BABA(HK:09988) Guodu Securities Hongkong·2025-12-11 02:21Group 1: Market Overview - The Hong Kong stock market experienced a rebound after a decline of over 600 points, with the Hang Seng Index closing at 25,540 points, up 106 points or 0.42% [3] - The trading volume for the day was approximately 1,933.92 million [3] - The market is expected to recover further, potentially reaching 26,000 points in the near future [2] Group 2: Economic Indicators - In November, China's Consumer Price Index (CPI) rose by 0.7% year-on-year, an increase of 0.5 percentage points from the previous month, aligning with expectations [6] - The Producer Price Index (PPI) decreased by 2.2% year-on-year, with a decline of 0.1 percentage points compared to the previous month [7] - The core CPI, excluding food and energy, increased by 1.2% year-on-year, maintaining a growth rate above 1% for three consecutive months [7] Group 3: Company News - JD.com confirmed the acquisition of a 50% stake in the Central China Construction Bank Tower for approximately 3.498 billion [10] - JD.com is committed to investing in Hong Kong's development, focusing on supply chain enhancements and logistics [10] - Alibaba's AI assistant, Qianwen, has surpassed 30 million monthly active users within 23 days of its public testing, indicating rapid growth in the AI application sector [11] Group 4: Financial Activities - Changfei Optical Fiber and Cable announced a placement of 70 million new H shares at a price of 32.26 HKD per share, raising approximately 22.58 billion HKD, with a discount of about 14.93% from the previous closing price [12]