[Daiwa: Alibaba Group's Long-Term Outlook Improves Due to AI Commercialization Prospects, Maintains Buy Rating but Lowers Target Price] Daiwa analysts stated in a research report that although Alibaba Group's profitability in the third fiscal quarter was weaker than expected, its long-term outlook remains positive. Daiwa's analysts noted that while their view on profitability is more cautious than the market consensus, they hold an optimistic stance on the mid-term AI commercialization prospects of Alibaba Cloud. They highlighted Alibaba's increasing focus on the commercialization of its AI business. The analysts mentioned that the new AI business unit, Token Hub, is likely to become "the core commercialization engine for scalable token consumption." Developers use tokens to measure and pay for AI workloads. The analysts also pointed out that while the food delivery business incurred significant losses during the December quarter, they expect these losses to narrow in the next quarter. The analysts maintained a Buy rating but lowered the target price from HK$191 to HK$184.