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<Research>CMSI Rates BABA-W as Overweight, Anticipates Qianwen App to Become Key Traffic Gateway for Future AI Agents
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BABA-W (09988.HK) kicked off the invitation-based testing of the "task assistant 1.0" at the product launch event for its Qianwen App, according to a report from CMSI.

The "task assistant 1.0" has fully integrated AI agents into BABA-W's ecosystem. With only one sentence, users can now use it to complete activities like shopping, payments, office tasks, and service requests.

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Seeing that the Qianwen App has already gained over 100 million monthly active users after only two months since its launch, CMSI believes it will become a major traffic entry point for AI agents in the future. Its strong demand and rapid product iteration are expected to accelerate BABA-W's e-commerce, cloud, and AI business growth.

CMSI has kept BABA-W's target price at HKD198, with a rating of Overweight. This company remains the broker's top pick in China's internet sector.
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