Jack Ma Appears at Alibaba Campus, Alibaba's Market Cap Returns to HK$3 Trillion

On September 16, according to The Paper, Jack Ma appeared at the HHB Bar in Alibaba's Zone B, accompanied by Alibaba partner Shao Xiaofeng. After being recognized, he waved greetings and put on a mask. The HHB Bar was founded by Jack Ma in January 2019.

Notably, on September 17, Alibaba-W (9988) opened 2.74% higher, continuing to hit a nearly four-year high. Its total market cap on the Hong Kong stock market returned to HK$3 trillion, with a cumulative increase of over 96% year-to-date. As of around 10:23 a.m., the latest gain was 3.65%, with the stock price reaching HK$159.1 and a total market cap of HK$3.0345 trillion.

According to a梳理 (compilation/analysis) by 21st Century Business Herald·Southern Finance Quick News reporters, recent news indicates that Alibaba released its next-generation open-source Qwen3-Next model, focusing on ultra-high training and reasoning cost-effectiveness. Previously, Alibaba's "Gaode Street Sweeping List" (高德扫街榜) launched on September 10, with daily active users exceeding 40 million on its first day.

In August of this year, Alibaba's official website showed that its businesses were reclassified from the original six major business groups into four main business categories: Alibaba China E-Commerce Group, Alibaba International Digital Commerce Group, Cloud Intelligence Group, and All Other Businesses. In terms of changes, the original Local Living Group's businesses were split. Ele.me was incorporated into Alibaba China E-Commerce Group, while Amap, Cainiao Group, and Youku and Damai Entertainment (under Orca Entertainment Group) were categorized under All Other Businesses. This business restructuring officially marks Alibaba's transition from the "1+6+N" structure to four main businesses.

Fundamentally, according to 21st Century Economic Report, in August, the financial results of Tencent and Alibaba, two internet giants, satisfied investors, with AI businesses becoming new growth engines for both companies.

In terms of capital flows, Wind data shows that the Hong Kong Tech 30 ETF (513160) recently saw significant capital inflows. As of September 11, the newly added shares year-to-date exceeded 2.584 billion, with a share growth rate of 1665.06%.