** Hong Kong-listed shares of Alibaba 9988.HK drop 6.2% to HK$106.5, their lowest level since July 15, 2025

** Stock set for the biggest one-day pct decline since April 7, 2025, and on track for the seventh consecutive falling session

** Second biggest pct loser on benchmark Hang Seng Index .HSI, which falls 1.3%

** Alibaba's Dingtalk CEO Chen Hang departs after debate about AI focus, Bloomberg reported

** Zephirin Group maintains a "Sell" "medium risk" rating on Alibaba but a lower price objective of Hong Kong stock to HK$92 from HK$112, and the U.S. shares to $92 from $112

** "We note Alibaba is exhibiting elevated execution pressure, evidenced by an unusually high cadence of management reshuffles in FYQ127 since the onset of its AI monetization phase last fiscal year" - Zephirin

** "While the AI/cloud strategy remains intact, repeated leadership reallocation points to ongoing friction in scaling execution across business units" - Zephirin

** The U.S. has added some of the world's largest solar and battery manufacturers to a list of companies it believes are aiding China's military, including Alibaba

** YTD, Hong Kong stock down 25.6%, US shares BABA.N down 21.3%, Hang Seng TECH Index .HSTECH down 15.9%