The Zhitong Finance App learned that Alibaba-W (09988) rose more than 6% in early trading. As of press release, it had risen 5.55% to HK$118, with a turnover of HK$9.129 billion.

According to news, on July 31, the market value of Changxin Technology once exceeded 4 trillion dollars in the intraday market. According to reports, after Changxin Technology successfully listed and issued a 10% IPO, Ali's shareholding ratio was diluted to about 4.48%, but it is still Changxin Technology's largest industrial investor. Based on an investment of about 7.6 billion yuan, the profit surpassed 170 billion yuan.

Additionally, Ali released Qwen 3.8-Max-Preview this month. Haitong International believes that Qwen 3.8 is an important step for Ali to show strength in recent iterations of various vendor models, reduce loss forecasts for takeout businesses, and increase profit margin forecasts for cloud businesses.

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