Alibaba's Hong Kong stock surged 6%! The Qianwen App ignites C-end growth, opening up new valuation space for Alibaba?

The "Qianwen" App saw rapid user growth after its launch, which not only drove Alibaba's stock price significantly higher but was also viewed by the market as a key step in reshaping the valuation of this tech giant.

On Monday, Alibaba officially announced that its "Qianwen" App surpassed 10 million downloads just one week after its public beta. This growth rate has already outpaced ChatGPT, Sora, and DeepSeek, making it the fastest-growing AI application to date.

The initial success of Qianwen has directly ignited enthusiasm in the capital markets. Following the release of strong user data, Alibaba's stock price rose by more than 6% at one point.

At the same time, Alibaba concept stocks surged, with Guangyun Technology, Liren Lizhuang, and Shuju Gang hitting the daily limit, while ZhiDeMai rose over 14%, and Meideng Technology increased nearly 20%.

This rapid user growth momentum has shown investors the potential for Alibaba to compete with global leaders like OpenAI's ChatGPT in the consumer AI market. Kenny Ng, a strategist at Everbright Securities International, stated that whether Alibaba can leverage the Qianwen App to drive its consumer-facing business will be "an important factor affecting the company's future valuation."

He further pointed out: "The market also sees this move as a key step in benchmarking its valuation against OpenAI." This indicates that investors are attempting to reassess Alibaba's intrinsic value and growth potential based on the success or failure of consumer AI applications.

Additionally, Zheng Hongda, an analyst at Western Securities, believes that in the future, Alibaba may establish a C-end profit loop through subscription models and traffic entry points, using model + scenario-driven AI services to reach and convert end users more broadly.

This strong market performance coincides with Alibaba CEO Eric Wu shifting the company's strategic focus entirely to "AI-first." With the company set to release its quarterly results on Tuesday, the explosive growth of Qianwen undoubtedly provides investors with a positive observation window to assess the effectiveness of its AI strategy and future prospects.

Qianwen Surpasses 10 Million Downloads in One Week, Lingguang Surpasses 1 Million Downloads

Since its official launch on November 17, the application has quickly gained market popularity and achieved 10 million downloads.

Public information shows that it entered the top three of the Apple App Store's free app rankings just two days after its launch. In the absence of applications like ChatGPT in the Chinese market, Qianwen's rapid rise is particularly notable. Industry insiders view Alibaba's move as a key layout in the battle for AI entry points.

This performance continues the strong momentum of AI products within Alibaba's ecosystem. Alibaba's fintech affiliate Ant Group launched its multimodal AI assistant "Lingguang" last week, which also garnered over 1 million downloads within four days of its release

"AI First": Deep Integration of Core Businesses

The rapid promotion of Qianwen is a core manifestation of Alibaba's "AI First" strategy. According to the company's statement, Alibaba plans to deeply integrate core life and productivity services such as digital maps, food delivery, travel, office tools, e-commerce, education, and health guidance into the Qianwen App.

In the coming months, the application will gradually add Agentic AI features to support the shopping experience on e-commerce platforms, including Taobao, with the ultimate goal of developing it into a fully functional AI agent.

Under the leadership of CEO Eddie Wu, Alibaba has repositioned itself as an AI-driven company. The strong start of Qianwen marks a solid first step in the implementation of this grand strategy, and its subsequent user retention, activity levels, and commercialization integration capabilities will be the focus of ongoing market attention