Alibaba and Xiaomi Set to Report — Is AI Investment Finally Paying Off?
Four China internet names report this week: Xiaomi and Baidu Tuesday, Kuaishou after Wednesday's HK close, Alibaba pre-market Thursday. Xiaomi +1.80% in Hong Kong today; Alibaba +1.35%, Baidu −0.96% last Friday. The focus isn't revenue: Alibaba's AI cloud growth against capex, Xiaomi's EV deliveries and hardware margins, Baidu's cloud-versus-ads mix, Kuaishou's GMV and Kling monetization. Tencent set the bar — revenue +11%, profit +9%, and the stock still fell as capex hit RMB 52.78bn and FCF went negative. Alibaba, Xiaomi, Baidu, or Kuaishou — whose print are you waiting for?