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<Research>G Sachs: Cloud & Data Centers Listed as Preferred CN Internet Sub-sector; BABA-W/ KINGSOFT CLOUD/ Others Recommended
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Goldman Sachs released a research report continuing to list cloud and data centers as its preferred sub-sector, following recent results announcement and its China internet industry field trip, primarily driven by growth in enterprises and AI agents, as well as the popularization of consumer-side AI assistants, which continue to fuel expansion in demand for AI tokens, alongside improving pricing power for cloud services and tokens. Core investment targets include GDS-SW (09698.HK), VNET Group (VNET.US), BABA-W (09988.HK) and KINGSOFT CLOUD (03896.HK). The broker lifted e-commerce and mobility to its second preferred sub-sector, with core investment targets being PDD Holdings (PDD.US) and Full Truck Alliance (YMM.US on its attractive valuation and improved 1Q26 trend. Game and entertainment ranked as its third preferred sub-sector, with core investment targets being TENCENT (00700.HK) and BILIBILI-W (09626.HK), supported by further shifts in user time spent toward entertainment and solid growth in advertising revenue. Auto-translated by AI AASTOCKS Financial News |
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