Core Viewpoint - Alibaba is in negotiations to acquire the "Island One Center" in Causeway Bay, with a potential purchase price of approximately HKD 7 billion, which would set a record for the largest commercial property transaction in Hong Kong this year [1] Group 1: Acquisition Details - The "Island One Center" consists of up to 13 floors, with each floor covering around 20,000 square feet, totaling approximately 270,000 square feet [1] - The building is currently owned by the Mandarin Oriental Hotel Group [1] - The price per square foot for the acquisition is nearly HKD 26,000 [1] Group 2: Strategic Rationale - Alibaba has been renting space in Times Square, Causeway Bay, for its headquarters, but is seeking to purchase its own headquarters due to business expansion, including Ant Group and media operations [1] - The acquisition of the "Island One Center" would not only serve as a long-term headquarters but also provide naming rights and rooftop advertising opportunities, enhancing the company's image [1] Group 3: Financial Performance - For the first quarter of the fiscal year 2026, Alibaba reported revenues of RMB 247.65 billion, a year-on-year increase of 2% [1] - The net profit for the same period rose by 78% to RMB 43.12 billion, indicating strong financial health and sufficient funds for the acquisition [1] Group 4: Market Context - If the acquisition proceeds at the estimated HKD 7 billion, it would surpass the previous record set by Hong Kong Exchanges and Clearing, which purchased a 9-story office building for HKD 6.3 billion earlier this year [1]