Group 1 - The company SenseTime-W (00020) announced the grant of a total of 312 million restricted share units to eligible participants under the 2022 Restricted Share Unit Plan [1] - The 312 million restricted share units are awarded to employee participants, specifically employees of group member companies [1]

格隆汇1月2日丨商汤-W(00020.HK)公告，于2026年1月2日，公司根据公司董事会于2022年6月20日采纳 的公司受限制股份单位计划(并根据日期为2024年6月26日的股东决议案修订)(「2022年受限制股份单位 计划」)向下列合资格参与者(「承授人」)授出合共3.12亿份受限制股份单位。3.12亿份受限制股份单位 向雇员参与者(即集团成员公司的雇员)授出。 ...

香港交易及結算所有限公司、香港聯合交易所有限公司及香港中央結算有限公司對本公告的內 容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任 何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （於開曼群島註冊成立以不同投票權控制的有限公司） （股份代號：0020（港幣櫃台）及80020（人民幣櫃台）） 根據2022年受限制股份單位計劃授出股份獎勵 本公告由商湯集團股份有限公司（「本公司」，連同其附屬公司及合併聯屬實體， 統稱「本集團」）根據香港聯合交易所有限公司證券上市規則（「上市規則」）第 17.06A、17.06B及17.06C條作出。 於2026年1月2日，本公司根據本公司董事（「董事」）會（「董事會」）於2022年6月 20日採納的本公司受限制股份單位計劃（並根據日期為2024年6月26日的股東決議 案修訂）（「2022年受限制股份單位計劃」）向下列合資格參與者（「承授人」）授出合 共312,237,629份受限制股份單位（「受限制股份單位」）。312,237,629份受限制股 份單位向僱員參與者（即本集團成員公司的僱員）授出。詳情載列如下： 授出日期： 202 ...

Group 1 - The core viewpoint of the article highlights the successful debut of Birran Technology as the first domestic GPU company listed on the Hong Kong Stock Exchange, with its stock price surging significantly on the first day of trading [1][3][4] - Birran Technology opened at HKD 35.7 per share, an 82% increase from the issue price of HKD 19.6, and reached a peak of HKD 42.88, pushing its market capitalization beyond HKD 100 billion [1][3] - The company has garnered substantial attention due to the booming AI sector, with significant interest from investors leading to over 2300 times oversubscription during its IPO [4] Group 2 - Birran Technology focuses on developing high-performance general-purpose GPUs, primarily through its self-developed Birli series GPU products, aiming to create a domestic intelligent computing industry ecosystem [4] - The company was founded in 2019 by Zhang Wen, who has an extensive background in technology and finance, including leadership roles at SenseTime and other firms [4] - Prior to its IPO, Birran Technology completed 10 rounds of financing, raising over RMB 5 billion, with investments from various institutional investors including Shanghai Guotou and IDG Capital [3][4] Group 3 - Other AI chip companies are also preparing to enter the capital market, with notable upcoming listings such as Tian Shu Zhi Xin on January 8 and Baidu's Kunlun Chip, which has submitted a listing application [5]

Group 1 - ByteDance's overseas AI assistant Dola has surpassed 10 million daily active users, focusing on dialogue Q&A, writing, translation, and image capabilities, positioning itself as a one-stop assistant for writing, thinking, and creation [2] - Zhiyun has made progress in Malaysia's sovereign AI development, launching a national MaaS platform and the Z·UM AI Lab, which is optimized for Malaysia's multilingual environment and maintains a data security architecture centered on sovereignty [2] - SenseTime's daily new version 6.5 ranked first in the domestic visual reasoning dimension with a total score of 75.35 in the SuperCLUE evaluation report, winning a gold medal [2] Group 2 - YuanLab.ai has officially open-sourced the Yuan 3.0 Flash multimodal foundational model, which has 40 billion parameters and utilizes a sparse mixture of experts architecture, significantly reducing computational costs while improving inference accuracy [2]

Core Insights - The report highlights the changes in the Hong Kong Stock Connect holdings, indicating significant increases and decreases in ownership percentages for various companies as of December 31, 2025 [1] Group 1: Increased Holdings - Andeli Juice (02218) saw the largest increase in ownership percentage, rising by 2.35% to a total holding of 23.75% [2] - Mengniu Dairy (02319) experienced a slight increase of 0.07%, bringing its holding to 17.52% [2] - The Yingfu Fund (02800) had a minimal increase of 0.02%, resulting in a holding of 1.78% [2] - Other notable increases include Lion Group (02562) with a 3.79% rise to 49.05% and Zhejiang Shibao (01057) with a 3.55% increase to 58.76% [3] Group 2: Decreased Holdings - Country Garden (02007) faced the largest decrease, with a drop of 0.51% to a holding of 15.33% [2] - Geely Automobile (00175) saw a reduction of 0.16%, resulting in a holding of 11.37% [2] - Huaxia Hengsheng Technology (03088) experienced a minor decrease of 0.02%, leading to a holding of 20.19% [2] - Other significant decreases include Jiahe Biotechnology-B (06998) with a 1.74% drop to 0.61% and Chalco International (02068) with a 1.50% decrease to 19.44% [3] Group 3: Five-Day Changes - Over the last five trading days, Lion Group (02562) had the highest increase in ownership percentage, up by 3.79% [3] - Zhejiang Shibao (01057) and Sanhua Intelligent Control (02050) also saw significant increases of 3.55% and 3.46%, respectively [3] - Conversely, Jiahe Biotechnology-B (06998) had the largest decrease of 1.74% over the same period [3] Group 4: Twenty-Day Changes - In the last twenty days, Lion Group (02562) experienced a substantial increase of 23.92% in ownership [4] - Jihong Co., Ltd. (02603) followed with a 22.62% increase, reaching a holding of 54.86% [4] - Red Star Macalline (01528) also saw an increase of 8.47%, bringing its holding to 52.20% [4]

Core Insights - SenseTime's Kapi camera has topped the Apple App Store's "Photography & Video" category in China as of December 31, showcasing its strong market performance and innovative features [2][7] - The Kapi camera, launched on December 20, is positioned as the first true "AI photography assistant," breaking traditional app limitations and offering advanced features like scene recognition and filter recommendations [2][3][8] - The success of Kapi camera indicates a significant shift in consumer-level AI applications, moving from experimental technology to mainstream usage, thus enhancing confidence in AI commercialization [5][10] Product Performance - Kapi camera achieved the number one spot in the Philippines App Store free app category on December 8 and has maintained a strong presence in the "Photos & Videos" category across multiple countries, including the UK, Italy, France, and Germany [3][8] - The app's technology includes a professional image processing workflow that replicates the Apple Log curve, allowing users to capture images with cinematic quality and rich detail without post-processing [3][8] Technological Advancements - SenseTime's SenseNova V6.5 Pro ranked first in the domestic evaluation by SuperCLUE, scoring 75.35 and achieving the highest score in visual reasoning among domestic models [4][9] - The report highlights that SenseTime's models are approaching the average level of leading models in basic cognitive dimensions, with SenseNova V6.5 exceeding the average in visual reasoning, indicating a competitive edge in the industry [9][10]

"国产GPU四小龙"之一的壁仞科技（06082.HK）计划于2026年1月2日挂牌，有望成为港股首只GPU股。日前，公 司招股活动结束，孖展金额高达约3843.79亿港元。 此次IPO，公司计划发行2.4769亿股股份，发售价区间设定为每股17-19.6港元，预计募资金额约为42.1亿-48.5亿港 元。 尽管已经收获了豪华的基石投资者，但当招股书的细节被置于聚光灯下，这家估值超百亿元的企业三年累计亏损 超63亿元、客户集中等风险还是清晰暴露在了投资者面前……资本盛宴背后，壁仞科技正面临多重考验。 三年半亏损超63亿元 壁仞科技成立于2019年，是国内领先的通用智能计算解决方案提供商，产品已应用于 AI 数据中心、电信、AI 解 决方案、能源及公用事业、金融科技及互联网等关键行业。 然而，公司自成立以来持续产生净亏损，2022年-2024年分别亏损14.74亿元、17.44亿元、15.38亿元。今年上半年 又亏损16亿元，近三年半时间净亏损合计超过63亿元。 造成如此大规模亏损的原因之一，是壁仞科技在报告期内产生了大额经营开支，特别是研发开支。2022年-2025年 上半年，公司研发费用分别达到了10.18亿 ...

Core Insights - Meta's acquisition of AI Agent startup Manus signifies a pivotal shift in the AI industry, moving from mere conversational capabilities to autonomous actions, marking a new phase in AI evolution [1][9] - The news has triggered a surge in the Chinese capital market, with investors actively seeking companies that demonstrate real "Agent implementation capabilities" [1][9] Group 1: Key Companies in AI Agent Space - **Pioneer in Vertical Implementation: Maifushi (02556.HK)** Maifushi's stock surged over 11% following the news, as it recently launched its Agentforce 3.0, a significant upgrade that automates complex business processes from perception to execution. It ranks among the top in the "2025 Enterprise AI Agent Applications TOP 50" alongside major players like Baidu and Alibaba [2][10] - **Foundation Stone of Infrastructure: Baidu Group (09888.HK)** Baidu serves as the backbone of China's AI Agent ecosystem, providing the Wenxin large model and the AgentBuilder development tool, enabling developers to create agents with low barriers. Its foundational technology positions it as a critical player in the AI Agent market [3][11][12] - **Central Hub for Office Scenarios: Kingsoft Office (688111.SH)** Kingsoft is transforming traditional document processing software into intelligent agents through WPS AI, focusing on enhancing personal productivity. It stands as a solid counterpart to Microsoft's Copilot in the domestic market [4][13] - **Hardware Giant: Lenovo Group (00992.HK)** Lenovo is promoting "AI PCs" that integrate localized large models and agents, representing a new category of edge intelligence. This positions Lenovo as a key hardware provider for AI agents, ensuring user accessibility [5][14] - **Entertainment and Social Player: Kunlun Wanwei (300418.SZ)** Kunlun is aggressively pursuing the C-end entertainment sector with its "All in AGI" strategy, which includes the Tiangong large model and ventures into AI gaming and social agents, aiming to create interactive companions in virtual environments [6][15] - **Leader in Visual Perception: SenseTime-W (00020.HK)** SenseTime excels in visual AI, focusing on physical world perception, particularly in autonomous driving and robotics. Its "Riri New" system aims to develop agents capable of understanding and responding to physical environments, representing a high-tech frontier in the agent space [7][16] Conclusion - Meta's acquisition of Manus serves as a clarion call for the AI industry, indicating a shift from mere conversational AI to functional agents. The next phase for China's AI agents will prioritize product capabilities over mere concepts [8][17]

Market Overview - The A-share market experienced a strong upward trend, with the Shanghai Composite Index closing with a 10-day winning streak, while the Shenzhen Component Index and the ChiNext Index rose by 0.49% and 0.63% respectively [1] - The total trading volume in the Shanghai and Shenzhen markets exceeded 2 trillion yuan for the third consecutive trading day, increasing by 3.8 billion yuan compared to the previous trading day [2] Sector Performance - The robotics sector saw significant gains, with multiple stocks hitting the daily limit, including Fenglong Co. with five consecutive limit-ups and Tianqi Co. with four consecutive limit-ups [3] - The AI glasses concept also showed strong performance, with stocks like New Xiang Micro rising nearly 10% and Yingpais rising over 7% [3] - AI-related stocks collectively surged, with over ten stocks in the AI, AI agents, and AIGC sectors hitting the daily limit, including Kute Intelligent and Baijia Qiancheng [3] Hong Kong Market - The Hong Kong stock market also showed strength, with the Hang Seng Index rising over 1% and the Hang Seng Tech Index increasing by more than 2% [5] International Markets - The Japanese and South Korean stock markets closed early due to the New Year's holiday, with the Nikkei 225 Index down 0.37% but showing a strong annual performance, gaining over 10,000 points and up 26.18% for the year [7]