The FCG Equity Research Competition 2025, also an internal screening process for the CFA Research Challenge 2025-26, was held on 2025.9.26 in Lecture Theatre 2. Ten teams of FCG students participated in the competition and each team conducted a 15-minute presentation on the valuation of Alibaba Group, a public company listed both in Hong Kong (09988.HK) and in New York (BABA), supported by PowerPoint slides. The Champion and Runner-up teams were recommended by FCG to participate in Local Final of CFA Research Challenge 2025-26 hosted by CFA Society Hong Kong.