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Market Overview - The Hang Seng Index fell by 0.74% this week, while the Hang Seng Tech Index dropped by 2.12%[5] - The net sell-off in the Hong Kong Stock Connect amounted to 5.5 billion HKD this week[5] AI Sector Insights - Tencent's Q4 2025 revenue increased by 13% year-on-year, with adjusted net profit rising by 17%[27] - Alibaba's FY26 Q3 revenue grew by 1.7% year-on-year, with a projected annual revenue from AI and cloud services expected to reach 100 billion USD within five years, reflecting a CAGR of over 40%[27] - AI-related product revenue for Alibaba has seen triple-digit growth for ten consecutive quarters[27] Investment Recommendations - Focus on platform-based internet companies like Tencent and Alibaba, which have advantages in computing resources and application scenarios[27] - Monitor AI ecosystem companies such as Kuaishou, MiniMax, and Bilibili for their model capabilities and application potential[27] Risk Factors - Geopolitical risks may impact overseas revenue and competitiveness, potentially affecting stock prices[28] - Regulatory risks in the internet sector could influence industry and individual stock performance[28]