8月25日，互联网ETF沪港深（159550）场内价格涨2%。成份股贝壳涨超9%，阿里巴巴涨超5%，快 手、四维图新涨超4%，指南针、光环新网、金蝶国际涨超3%，美团、芒果超美、腾讯控股、阿里健康 等涨超2%。8月以来，互联网ETF沪港深（159550）交投活跃，获超5000万份申购。 消息面上，三大消息点燃市场。 互联网ETF沪港深（159550）跟踪中证沪港深互联网指数，从沪港深三地市场中选取50只流动性较好、 市值较大的互联网上市公司股票作为指数样本股，覆盖各大互联网科技龙头，涵盖了to B和to C的互联 网企业，一共50只成份股，截至2025/8/22，前十大权重股为：腾讯控股、阿里巴巴、小米集团、美 团、同花顺、东方财富、京东健康、快手、金山办公、科大讯飞。（数据来源：深交所） 注：基金管理人对文中提及的板块和个股仅供参考，不代表基金管理人任何投资建议，不代表基金持仓 信息或交易方向，个股涨幅不代表本基金未来业绩表现，不构成任何投资建议或推介。 风险提示：基金有风险，投资需谨慎。以上内容仅供参考，仅代表撰文时市场表现，基于市场环境的不 确定性和多变性，不作为任何投资建议，所涉观点后续可能发生调整或 ...

Group 1 - Alibaba announced the proposed spin-off of Zhibo Network Technology Co., Ltd. (Zhibo Zhixing) for independent listing on the Hong Kong Stock Exchange [1][4] - Zhibo Zhixing is the largest software-centric intelligent cockpit solution provider in China, with over 8 million vehicles equipped with its solutions across more than 14 countries as of June 30, 2025 [4][8] - Alibaba holds approximately 44.72% of Zhibo Zhixing's shares and plans to retain over 30% post-spin-off [8][11] Group 2 - The spin-off is part of Alibaba's "1+6+N" organizational transformation strategy, aimed at enhancing operational agility and addressing the challenges of large enterprises [11][16] - Zhibo Zhixing's revenue for 2022, 2023, and 2024 is projected to be 805 million, 872 million, and 824 million yuan respectively, with total losses of approximately 2.6 billion yuan over three years [13] - The spin-off is expected to improve financial transparency and allow investors to evaluate Zhibo Zhixing's performance separately from Alibaba's broader operations [13][16] Group 3 - The independent listing of Zhibo Zhixing is seen as a strategic move to release the investment value of high-potential businesses while maintaining synergies with Alibaba's ecosystem [17][19] - Zhibo Zhixing aims to leverage Alibaba's technological support in cloud services and AI while expanding its client base beyond Alibaba's ecosystem [17][21] - The spin-off reflects a broader trend among Chinese tech companies to separate high-potential businesses for independent growth and market valuation [19][21]