Apple AI coming to China? Baidu and Alibaba rise｜Today's important news recap
0908 | Dolphin Research Key Focus:
🐬 Macro/Industry
1. Recently, Hang Seng Indexes Company Limited announced the review results of the Hang Seng Index series up to the second quarter of 2025, with all changes effective from today. The number of constituent stocks in the Hang Seng Index will increase from 85 to 88, with China Telecom, JD Logistics, and Pop Mart being added.
2. According to data from the General Administration of Customs, imports and exports in August 2025 totaled RMB 3.87 trillion (+3.5%), with exports at RMB 2.3 trillion (+4.8%) and imports at RMB 1.57 trillion (+1.7%), marking three consecutive months of double growth. Over half of the trade was with Belt and Road countries, serving as the main growth driver. The growth rate of imports remains low, indicating domestic demand still needs to be boosted.
🐬 Individual Stocks
1.$Baidu(BIDU.US)
Baidu rose over 9% today, as the market reignited expectations of cooperation with Apple's overseas Apple Intelligence visual intelligence, which is partially powered by Baidu AI Cloud's inference capabilities. This sentiment strengthened the logic that Baidu's large model is recognized by international giants. Additionally, Baidu's Q2 financial report showed high growth in its intelligent cloud and Robotaxi businesses, fulfilling its AI strategy. Coupled with today's collective rebound of Chinese concept stocks, Baidu surged significantly.
2.$Alibaba(BABA.US) $BABA-W(09988.HK)
Alibaba's Tongyi Qianwen released its largest model to date, Qwen3-Max-Preview, with parameters exceeding 1 trillion. It is now available for free on Alibaba Cloud's Bailian platform and Qwen Chat, with API access open for calls. In the short term, this catalyzes the valuation recovery of the cloud business, while in the long term, attention is on whether it can maintain performance leadership and customer conversion rates. Additionally, for the domestic Apple AI, it is rumored that Alibaba will continue to serve as the base model provider, driving domestic Apple intelligent services.
🐬 Leading Sectors
Shanghai and Shenzhen: Tobacco, oil and gas storage and transportation, industrial enterprise groups;
Hong Kong stocks: Managed healthcare, agricultural machinery, oil and gas storage and transportation;
U.S. stocks: Precious metals and minerals, commercial and residential mortgage financing, semiconductor materials and equipment.
🐬 Focus for Tomorrow
1. None.
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