HK Stock Market Move | BABA-W(09988) is currently down over 4%. Taobao Flash Sale participates in Double Eleven for the first time. The company has made significant investments in its instant retail business.

BABA-W (09988) is now down over 4%, as of press time, down 4.22% to HK$154.4, with a turnover of HK$13.466 billion. On the news front, the 2025 "Double 11" e-commerce promotion has entered the intense start-up period, with instant retail becoming the focus of competition for the first time in the Double 11 e-commerce event. It is reported that Taobao/Tmall platform simultaneously released 3 billion yuan worth of deposit live broadcast red envelopes on October 9th, with users able to receive over 2000 yuan daily. Taobao Flash Sale will participate in the Double 11 event for the first time, with 88VIP members able to receive 50% off takeaway red envelopes daily during the event. Zheshang released a research report, predicting that the FY26Q2 Alibaba's China e-commerce revenue will be 126.9 billion yuan, a year-on-year increase of 11.6%; EBITA Margin is 6.8%, a significant decrease compared to the previous quarter, due to the significant investment in instant retail in the third quarter. The company is improving its fulfillment system while bringing in high order density from dining and takeaway, focusing on bringing active users and transaction frequency to traditional e-commerce businesses, as well as the market space for future instant retail e-commerce of goods. In addition, the dual-line operations of Ele.me and Gaode in the on-site business also bring new opportunities for the company's e-commerce business.