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2026-04-02 11:32:04 G Sachs released a China internet sector report stating that, following recent earnings releases and its China internet industry field trip, it continues to rank cloud and data centers as its top sub-sector picks. This is primarily driven by growth in enterprises and AI agents, as well as the proliferation of consumer 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 Holdings (09698.HK), VNET Group (VNET.US), Alibaba Group (09988.HK) and Kingsoft Cloud (03896.HK). The bank upgraded e-commerce and mobility to its second-preference sub-sectors, with core investment targets PDD Holdings (PDD.US) and Full Truck Alliance (YMM.US), citing attractive valuations and improving trends in 1Q26. Gaming and entertainment rank as the third-preference sub-sector, with core investment targets TENCENT (00700.HK) and Bilibili (09626.HK), supported by further shifts in user time spent toward entertainment and solid growth in advertising revenue. (fc/u)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |