HK Stock Market Move | BABA-W(09988) afternoon increase exceeds 6%, Alibaba's Alipay MAU has exceeded 100 million, will hold a Q&A app launch event this Thursday.
Alibaba-W (09988) increased by more than 6% in the afternoon, rising by 5.88% to HK$169.3 at the time of writing, with a turnover of HK$29.15 billion.
BABA-W (09988) extended its rally by more than 6% in the afternoon, rising 5.88% to HK$169.3 by the time of publication, with a turnover of HK$29.15 billion.
On the news front, on January 14th, the "Science and Technology Innovation Board Daily" learned that in the two months since its launch, Alibaba's Qianwen C-end monthly active users (MAU) has surpassed 100 million, growing rapidly among students and white-collar groups. According to industry insiders, several competing traffic platforms had previously imposed restrictions on the Qianwen APP. It is reported that Alibaba's Qianwen will hold a Qianwen APP press conference at 10:00 on January 15th.
It is worth mentioning that according to the latest data from the world's largest AI open source community, Hugging Face, Alibaba's Qianwen large model has experienced explosive growth. Since surpassing Meta in the second half of 2025, Alibaba's Qianwen has accumulated downloads of 700 million. Among the top 10 open source models globally, Alibaba's Qianwen has shown the most rapid growth and is currently the most widely used open source model by developers worldwide.
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