Wu Jia: Qwen's Free Order Event Sees 15M Actual Orders on First Day, Investment Surpasses RMB3B
Stock Performance: BABA-W (09988.HK) experienced a decline of 1.673%, with short selling amounting to $1.67 billion and a ratio of 15.431%.
Successful Free Order Event: The Qwen App's 'Spring Festival RMB3 Billion Free Order' event surpassed expectations, achieving over 15 million orders on the first day, significantly exceeding the initial estimate of 1 million.
Investment Impact: Due to the high user participation in the free order event, the company's actual investment exceeded the planned RMB3 billion.
AI Integration Vision: Wu Jia, President of Qwen Consumer Business Group, emphasized that the event was designed to integrate AI into everyday life, marking a significant future trend rather than a competitive tactic.
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Short Selling Activity Reaches $19.2B, Representing 28.2% of Eligible Securities Turnover by Midday
Short Selling Turnover: The short selling turnover in the Hong Kong market reached $19.2 billion at midday, accounting for 28.2% of the turnover of eligible securities, an increase from 20.3% on the previous trading day.
Top Short Selling Shares: The top five shares with the highest short selling amounts include HSCEI ETF, TRACKER FUND, CSOP HS TECH, BABA-W, and MEITUAN-W, with short selling ratios ranging from 24.3% to 55.3%.
HSCEI ETF Performance: The HSCEI ETF had the highest short selling amount at $2.4 billion, with a short selling ratio of 47.9%.
CSOP HS TECH Highlights: CSOP HS TECH recorded a short selling turnover of $1.72 billion, leading with the highest short selling ratio of 55.3% among the top five shares.
Citi Lowers MEITUAN-W's Target Price to HKD94; 2025 CLC Operating Loss Surpasses Expectations
Profit Warning: MEITUAN-W forecasts a 2025 core local commerce operating loss of RMB6.8-7 billion, which is better than market expectations of RMB7.3 billion and RMB7.9 billion.
Net Loss: The company reported an IFRS net loss of approximately RMB23.3-24.3 billion, slightly exceeding broker forecasts but aligning with market expectations.
Market Challenges: Citi anticipates that MEITUAN-W will face increased competition, particularly from BABA-W and Douyin, which may hinder its recovery.
Rating Adjustment: Citi maintains a Neutral rating on MEITUAN-W while reducing its target price from HKD115 to HKD94.
BABA-W Expected to Release Open-Source Qwen3.5 Model Tonight on Lunar New Year's Eve
Stock Performance: BABA-W (09988.HK) experienced a decline of 1.287%, with short selling amounting to $1.67 billion and a ratio of 15.431%.
New Model Release: Alibaba is set to open-source its new Qwen3.5 model on Lunar New Year’s Eve, which is expected to represent a significant advancement in its architecture and domestic AI models.
Sunmi, a BIOT Solutions Firm, Aims for Hong Kong IPO with Alibaba and Meituan as Shareholders
Company Listing: Shanghai Sunmi Technology, a Mainland Chinese BIoT solutions provider, has successfully cleared the listing hearing for the Hong Kong Stock Exchange.
Product Offerings: The company specializes in smart devices and the BIoTPaaS platform, with significant backing from major shareholders like Ant Group.
Market Position: Sunmi is recognized as the world's largest Android-based BIoT solutions provider, holding over 10% market share and serving more than 70% of the top 50 global food and beverage companies.
Financial Performance: The company reported net profits of RMB160 million, RMB101 million, and RMB181 million for the years 2022 to 2024.
Guangdong Collaborates with Amap to Introduce Enhanced Cultural Tourism Map 2.0
Guangdong Cultural and Tourism Maps: Guangdong Province and BABA-W have launched version 2.0 of their cultural and tourism maps, focusing on creating an intelligent portal for tourism in the region.
Key Innovations: The new version features significant improvements in functional innovation, activity integration, and resource optimization, increasing curated travel routes from 23 to 72.
Wu Jia: Qwen's Free Order Event Sees 15M Actual Orders on First Day, Investment Surpasses RMB3B
Stock Performance: BABA-W (09988.HK) experienced a decline of 1.673%, with short selling amounting to $1.67 billion and a ratio of 15.431%.
Successful Free Order Event: The Qwen App's 'Spring Festival RMB3 Billion Free Order' event surpassed expectations, achieving over 15 million orders on the first day, significantly exceeding the initial estimate of 1 million.
Investment Impact: Due to the high user participation in the free order event, the company's actual investment exceeded the planned RMB3 billion.
AI Integration Vision: Wu Jia, President of Qwen Consumer Business Group, emphasized that the event was designed to integrate AI into everyday life, marking a significant future trend rather than a competitive tactic.
Short Selling Activity Reaches $19.2B, Representing 28.2% of Eligible Securities Turnover by Midday
Short Selling Turnover: The short selling turnover in the Hong Kong market reached $19.2 billion at midday, accounting for 28.2% of the turnover of eligible securities, an increase from 20.3% on the previous trading day.
Top Short Selling Shares: The top five shares with the highest short selling amounts include HSCEI ETF, TRACKER FUND, CSOP HS TECH, BABA-W, and MEITUAN-W, with short selling ratios ranging from 24.3% to 55.3%.
HSCEI ETF Performance: The HSCEI ETF had the highest short selling amount at $2.4 billion, with a short selling ratio of 47.9%.
CSOP HS TECH Highlights: CSOP HS TECH recorded a short selling turnover of $1.72 billion, leading with the highest short selling ratio of 55.3% among the top five shares.
Citi Lowers MEITUAN-W's Target Price to HKD94; 2025 CLC Operating Loss Surpasses Expectations
Profit Warning: MEITUAN-W forecasts a 2025 core local commerce operating loss of RMB6.8-7 billion, which is better than market expectations of RMB7.3 billion and RMB7.9 billion.
Net Loss: The company reported an IFRS net loss of approximately RMB23.3-24.3 billion, slightly exceeding broker forecasts but aligning with market expectations.
Market Challenges: Citi anticipates that MEITUAN-W will face increased competition, particularly from BABA-W and Douyin, which may hinder its recovery.
Rating Adjustment: Citi maintains a Neutral rating on MEITUAN-W while reducing its target price from HKD115 to HKD94.
BABA-W Expected to Release Open-Source Qwen3.5 Model Tonight on Lunar New Year's Eve
Stock Performance: BABA-W (09988.HK) experienced a decline of 1.287%, with short selling amounting to $1.67 billion and a ratio of 15.431%.
New Model Release: Alibaba is set to open-source its new Qwen3.5 model on Lunar New Year’s Eve, which is expected to represent a significant advancement in its architecture and domestic AI models.
Sunmi, a BIOT Solutions Firm, Aims for Hong Kong IPO with Alibaba and Meituan as Shareholders
Company Listing: Shanghai Sunmi Technology, a Mainland Chinese BIoT solutions provider, has successfully cleared the listing hearing for the Hong Kong Stock Exchange.
Product Offerings: The company specializes in smart devices and the BIoTPaaS platform, with significant backing from major shareholders like Ant Group.
Market Position: Sunmi is recognized as the world's largest Android-based BIoT solutions provider, holding over 10% market share and serving more than 70% of the top 50 global food and beverage companies.
Financial Performance: The company reported net profits of RMB160 million, RMB101 million, and RMB181 million for the years 2022 to 2024.
Guangdong Collaborates with Amap to Introduce Enhanced Cultural Tourism Map 2.0
Guangdong Cultural and Tourism Maps: Guangdong Province and BABA-W have launched version 2.0 of their cultural and tourism maps, focusing on creating an intelligent portal for tourism in the region.
Key Innovations: The new version features significant improvements in functional innovation, activity integration, and resource optimization, increasing curated travel routes from 23 to 72.
Wu Jia: Qwen's Free Order Event Sees 15M Actual Orders on First Day, Investment Surpasses RMB3B
Stock Performance: BABA-W (09988.HK) experienced a decline of 1.673%, with short selling amounting to $1.67 billion and a ratio of 15.431%.
Successful Free Order Event: The Qwen App's 'Spring Festival RMB3 Billion Free Order' event surpassed expectations, achieving over 15 million orders on the first day, significantly exceeding the initial estimate of 1 million.
Investment Impact: Due to the high user participation in the free order event, the company's actual investment exceeded the planned RMB3 billion.
AI Integration Vision: Wu Jia, President of Qwen Consumer Business Group, emphasized that the event was designed to integrate AI into everyday life, marking a significant future trend rather than a competitive tactic.
