China Daily Briefing

SCMP Business reported that Alibaba Group President Joe Tsai delivered his company's boldest public AI commitment at the VivaTech conference in Paris, describing Alibaba as going 'all in' on artificial intelligence. This goes beyond product launches — Tsai's phrasing at a major European tech forum signals Alibaba is positioning against both domestic rivals (Baidu, Tencent, Huawei) and global challengers (OpenAI, Anthropic, Google DeepMind). For investors, a credible trillion-parameter model from BABA would directly support its cloud revenue trajectory (Alibaba Cloud growth has been uneven) and justify multiple re-expansion above current ADR pricing.

Multiple Chinese EV manufacturers signalled Southeast Asia expansion at the Hong Kong International Auto Show, according to SCMP Business. This coordinated push builds on already-strong BYD and SAIC presences in Thailand, Indonesia, and Vietnam. SEA is increasingly the primary offshore market for Chinese EV exports — both as a volume market and as a production base. For the A/H share premium calculation, successful SEA penetration expands the global revenue base that justifies premium H-share valuations for EV names listed in Hong Kong.

Autonomous driving startup Momenta is advancing toward a Hong Kong IPO after a US listing was blocked, per SCMP Business. Momenta counts SAIC, Toyota, and Mercedes-Benz among its strategic investors — the IPO would test the HK capital markets' capacity to absorb China's next-generation smart-mobility category. This follows a pattern of China tech names pivoting to HKEX after US ADR delisting or approval risks: for the HKEX IPO pipeline, Momenta's filing would confirm Hong Kong's role as the primary capital formation venue for China's AI and EV-adjacent startups.