During the trading session, Alibaba's share price experienced a notable upswing, surging by more than 3% to reach a peak of HK$156.80. This marks its highest level in nearly four years, accompanied by a cumulative monthly gain of close to 35%. At the time of drafting this report, the share price had climbed by 2.91%, trading at HK$155.50, with a substantial trading volume of HK$13.215 billion. The company has recently introduced its cutting-edge foundational model architecture, Qwen3-Next, and has made Qwen3-Next-80B-A3B available as open-source software, showcasing several key enhancements. Great Wall Securities notes that Alibaba boasts a well-rounded AI strategy, endowed with significant technological and ecological strengths. The synergy between its instant retail services and its primary e-commerce platform is readily apparent, and its cloud business is poised to reap the benefits. Given its dual attributes of technological prowess and consumer appeal, Great Wall Securities continues to endorse a 'Buy' rating for the stock.