$Alibaba(BABA.US)

In the past 1-2 weeks, additional positions in the underlying stock were added within the 120-130 range. This portion of the added positions will be held for a short-to-medium term investment of 1-2 quarters, with the main logic as follows:

1 The massive success of Openclaw has led to a significant increase in MAAS platform revenue, which will be reflected in the Q4 earnings report announced in May-June, and will be even more evident in the Q1 report in August-September.

2 Reduced losses and improved profitability resulting from the subsiding food delivery war.

3 The remaining nearly $30 billion in buyback quota will increase after the stock price continues to fall.