Alibaba Group Holding Limited (09988.HK) has seen its stock price rebound strongly since the beginning of the year. Hong Kong, September 18, 2025 — As of intraday trading, the company’s share price climbed as high as HK$164.8, reaching its highest level in nearly four years. Since the start of 2025, the stock has gained nearly 100%, making it one of the top-performing technology leaders in the Hong Kong market.

(Image source: uSMART HK app)

Rebounding Nearly Twofold from Early-Year Lows

According to market data, Alibaba’s share price dropped to around HK$76 in early January 2025. Since then, driven by a recovery in its e-commerce business, stronger profitability in cloud computing, and the rapid growth of artificial intelligence, the stock has climbed steadily. Over the past few months, with market risk appetite improving, Alibaba has attracted significant capital inflows.

Earnings Improvement Boosts Confidence

The latest financial report shows that Alibaba’s core e-commerce business maintained steady growth, with China retail revenue rising about 8% year-on-year and international digital commerce revenue surging 22%. The cloud intelligence segment also performed strongly, with quarterly revenue up 26% year-on-year to approximately RMB 33.4 billion, of which AI-related products accounted for more than 20% of external customer revenue. In addition, for fiscal year 2025, the company’s operating revenue increased 6% year-on-year, while operating profit jumped 24%, reflecting effective cost control and improved profitability. Several investment banks have since raised their target prices, broadly viewing Alibaba’s profitability as returning to a growth track — further strengthening market confidence and fueling share price momentum.

Multiple Drivers Behind the Rally

Market analysts generally believe that Alibaba’s surge is the result of multiple factors working together. On one hand, consumer market recovery has fueled an e-commerce rebound, with core revenues steadily improving. On the other hand, the expansion of cloud computing and AI businesses continues to enhance profitability, serving as a key catalyst for the company’s revaluation. Meanwhile, Alibaba’s ongoing share buyback and dividend policies have not only boosted shareholder return expectations but also further lifted investor confidence.

How to Buy Alibaba Shares on uSMART

After logging in to the uSMART HK app, tap the “Search” button at the top right corner, enter the stock code (09988.HK), and navigate to the stock’s details page to view trading information and historical performance. Then, tap “Trade” at the bottom right, select the transaction type, fill in the order conditions, and submit the order.

(Image source: uSMART HK app)