The Zhitong Finance App learned that Alibaba-W (09988) rose more than 2%. As of press release, it had risen 1.83% to HK$111.3, with a turnover of HK$3,567 billion.

According to the news, Citi published a research report stating that Alibaba-W will hold the 2026 Yunqi Conference in Hangzhou from September 22 to 24. The theme is “Intelligence Goes Beyond”. It is expected that it may release QWEN model v3.8 series updates, new QWEN version v3.9 or v4.0, MaaS platform infrastructure and network upgrades, T-Head (T-Head) AI/CPU chip upgrades, new or enhanced versions of enterprise intelligence applications, and physical AI, wearable devices, robots and intelligent devices A series of news such as industrial cooperation.

Citi expects that at the Yunqi conference, Alibaba will reaffirm its full-stack capabilities, three-year capital expenditure of 380 billion yuan, external cloud revenue target of 100 billion US dollars by fiscal year 2031, and may provide the latest MaaS annual recurring revenue (ARR) until the end of September, while maintaining the ARR target of 30 billion yuan at the end of the year. The bank pointed out that after the recent weakening of stock prices in the sector, the bank believes that any positive surprise announcement at the Yunqi conference may stimulate a positive response to the stock price and develop a short-term positive view on Ali for a period of 30 days.

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