Baidu Rises on Kunlun Chip Boost; Alibaba Unveils New AI Chip | Today's Important News Recap

0917 ｜Dolphin Research Key Focus:

🐬 Macro/Industry

1. The Ministry of Commerce and eight other departments released the "Several Policy Measures on Expanding Service Consumption," proposing 19 measures in five areas, covering the optimization of student holiday arrangements, enrichment of cultural and tourism product supply, and enhancement of health and elderly care services, aiming to enhance the supply capacity of service consumption and unleash its potential.

🐬 Individual Stocks

1.$MEITUAN(03690.HK)

Meituan rose nearly 5% today, accelerating its global expansion. On September 15th, local time, Meituan officially launched the Keeta service in Kuwait at 11 a.m., marking its entry into the third Middle Eastern market after Saudi Arabia and Qatar. On the first day of launch, it integrated major brands such as McDonald's, Starbucks, and Burger King, and introduced a 50% discount on the first order plus free delivery to attract new users. Kuwait has a high per capita GDP and a high penetration rate of online food delivery, indicating significant potential in the takeaway market. Keeta had previously accumulated experience in user growth and market coverage in Saudi Arabia, and this expansion into Kuwait is conducive to further building a "multi-country linkage" international development model.

2.$BABA-W(09988.HK)

Alibaba's Pingtouge Semiconductor's PPU chip was featured on CCTV's "News Broadcast." Its key parameters (such as 96GB HBM2e memory and 700GB/s interconnect bandwidth) are comparable to NVIDIA's H20, with some indicators (PCIe 5.0 support, power consumption control) surpassing NVIDIA's A800, and it is compatible with the CUDA ecosystem, primarily targeting AI inference scenarios. Against the backdrop of the U.S. continuing to impose AI chip export restrictions on China, the breakthrough of Pingtouge's PPU chip is significant. If it can achieve stable mass production and widespread operation, it will provide a more cost-effective chip solution for domestic large model training and other AI businesses.

3.$BIDU-SW(09888.HK)

Baidu's Hong Kong stocks surged today, closing up 15%, marking the largest increase in the past two years, driven by multiple positive catalysts: Kunlun Chip won the bid for China Mobile's billion-level AI server procurement at the end of August, ranking first; mid-September announcement of strategic cooperation with China Merchants Group on large model + cloud integration; coupled with foreign capital upgrading its rating, the market is re-evaluating its AI cloud and chip story, along with the potential of Robotaxi, leading to Baidu's recent continuous surge.

4.$SMIC(00981.HK)

There are reports that SMIC has begun testing a deep ultraviolet (DUV) lithography machine developed by Shanghai startup Yu Liangsheng. The DUV lithography machine being tested uses full immersion technology similar to ASML systems, with most components manufactured domestically, and early test results are optimistic.

🐬 Leading Sectors

Shanghai and Shenzhen: Asset management and custody banks, motorcycle manufacturers, financial exchanges and data;

Hong Kong stocks: Heavy electrical equipment, cloud and data centers, application software;

U.S. stocks: Marine ports - operators, agricultural products, oil and gas refining and sales.

🐬 Focus for Tomorrow

1. U.S. Federal Reserve interest rate decision (upper limit).

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