Alibaba-W (09988) climbed more than 3% in Hong Kong trading. As of the latest update, the stock advanced 3.47% to HK$152.3, with a turnover of HK$2.504 billion. On February 22, Alibaba Cloud announced via its official social media account that its Coding Plan subscription service now supports four additional programming models: Qwen3.5-Plus, Qwen3-Coder-Next, GLM-4.7, and Kimi-K2.5. Users can freely switch between these models without adjusting configurations. The company also introduced a first-purchase discount for new users, offering 18,000 requests for just 7.9 yuan and 90,000 requests for 39.9 yuan in the first month. The service is available in Lite and Pro tiers, covering coding needs from basic to complex tasks while reducing costs for high-frequency usage. It is compatible with mainstream tools such as Qwen Code and Claude Code. China Merchants Securities International noted that the investment rationale for leading Chinese internet companies in the AI sector has significantly strengthened, supporting valuation recovery in Hong Kong's technology segment. Upcoming major models, including DeepSeek-V4, Alibaba's Qwen 3.5, Doubao 2.0, and Mini Max M2.2, are expected to serve as catalysts in the next phase.