Understanding the Market | Alibaba-W rose over 4% in early trading as its subsidiary Amap launched the Amap Street Scanning Ranking and will provide subsidies to encourage in-store consumption

Zhitong
2025.09.10 02:45
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Alibaba-W's stock price rose more than 4% in the morning session, reaching a new high since November 2021, peaking at HKD 147.9. Amap launched the "Amap Street Scanning Ranking" and initiated the "Good Store Support Program," distributing over 1 billion yuan in subsidies to encourage in-store consumption. Alibaba also launched the new generation Qwen3-Max-Preview large model, marking the entry of the AI theme into a new cycle, with the market focusing on the industry penetration and commercialization progress of intelligent agent-type AI

According to Zhitong Finance APP, Alibaba-W (09988) rose more than 4% in early trading, reaching a high of HKD 147.9, a new high since November 2021. As of the time of publication, it is up 1.27%, priced at HKD 143.7, with a transaction volume of HKD 13.737 billion.

In terms of news, Alibaba's Amap announced on September 10 the launch of the world's first user behavior-based ranking list, the "Amap Street Scanning List." Amap also initiated the "Good Store Support Program," encouraging users to shop in-store through measures such as issuing over HKD 1 billion in subsidies, hoping to bring an additional 10 million customers daily to offline dining and other service industries. It has been disclosed that Amap covers over 7 million restaurant locations nationwide, with 120 million searches related to life services conducted daily, navigating to 13 million life service destinations.

In addition, Alibaba recently launched the next-generation Qwen3-Max-Preview large model, with a parameter scale exceeding 1 trillion. Jefferies believes that following the industry shock caused by DeepSeek in January 2025, Alibaba's upgrade this time marks the official start of a new cycle for the AI theme. Market focus is shifting towards the industry penetration of intelligent agent-type AI, the commercialization speed of different models, the revenue growth potential of Alibaba Cloud business, and the demand and capital expenditure trends for AI across various industries

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