Hong Kong Stock Volatility | Alibaba-W(09988) rebounds over 4% Reported Qwen management restructuring announced Morgan Stanley previously stated it does not affect investment logic

LootboxPhobia · 2026-03-10T07:54:53+00:00

Alibaba's stock price rebounded over 4%, currently up 3.89%. Qwen management restructuring, with Zhou Jingren responsible for model development and Liu Dayi Heng managing multiple teams simultaneously. JPMorgan believes this change will not affect the investment thesis, and Qwen is viewed as a core part of the system story.

LootboxPhobia

2026-03-10 07:54:53

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Reuters Finance APP reports that Alibaba-W (09988) rebounded over 4%. As of the time of writing, it rose 3.89% to HKD 133.7, with a trading volume of HKD 10.223 billion.

According to late reports, Qwen management adjustments have been announced. The Qwen Model No. 1 is now managed by Zhou Jingren, CTO of Alibaba Cloud and head of Tongyi Laboratory. He will oversee the resources needed for model development, improve collaboration efficiency across all stages, and ensure high-quality iterative updates. Liu Dayi Heng, responsible for pre-training Qwen, will also co-manage the post-training and coding teams. Liu Dayi Heng and other leaders of the Qwen model team report to Zhou Jingren.

JPMorgan previously released a research report stating that, based on the narrative of “Qwen as a business,” the management change of Qwen is viewed as an execution risk premium and does not immediately alter the investment logic. The core reason is that Alibaba increasingly positions Qwen as a system story (open-weight business + cloud commercialization + consumer distribution), rather than a single release or individual story.

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