Alibaba-W (09988) fell more than 3%. As of writing, the stock was down 3.07% to HK$154.7, with a turnover of HK$9.388 billion. On February 6, Alibaba's Qwen launched a "Spring Festival 3 Billion Freebies" campaign, distributing free milk tea vouchers. Shortly after, the Qwen app experienced minor system outages in multiple regions across the country. In response, Alibaba stated, "We are urgently adding resources to ensure smooth operation." It is reported that within less than three hours of the campaign's launch, users had placed over 1 million milk tea orders through the Qwen app. Notably, following WeChat's previous restriction of Tencent's own Yuanbao, Qwen's red packet sharing links have also been blocked by WeChat. As of writing, Qwen topped Apple's App Store free app chart, with Yuanbao ranking second and Doubao third. Goldman Sachs released a research report stating that competition in China's consumer AI sector intensified before this year's Spring Festival, predicting that the ultimate AI entry points will still be concentrated in Tencent Holdings, Alibaba, and ByteDance. The report mentioned continued optimism about Alibaba and Tencent as the best-positioned internet giants over a one-to-three-year horizon, but also cautioned that some tech companies may outperform the giants this year.