Summary of Key Points Group 1: 52-Week Highs - A total of 56 stocks reached their 52-week highs as of October 31, with New Silk Road Cultural Tourism (00472) leading with a high rate of 42.86% [1] - Other notable stocks include Dipu Technology (01384) at 25.07% and Tianren Group (01429) at 20.41% [1] - The table lists various stocks with their closing prices, highest prices, and the percentage increase from their previous highs [1] Group 2: 52-Week Lows - The report also highlights stocks that reached their 52-week lows, with Huahao Zhongtian Pharmaceutical - B (02563) showing a significant decline of 43.93% [2] - Other stocks with notable declines include Lion Holdings (02562) at -26.06% and Huili Resources (01303) at -15.00% [2] - The table provides details on the closing prices, lowest prices, and the percentage decrease for these stocks [2]

Market Overview - The Hang Seng Index fell by 0.89%, down 232 points, closing at 26,050 points, while the Hang Seng Tech Index dropped by 1.91% [1] - The early trading volume in the Hong Kong stock market reached HKD 142.3 billion [1] Biotechnology Sector - The Hang Seng Biotechnology Index rebounded by 2.16%, with notable gains in several stocks: - InnoCare Pharma (09606) surged by 10.88% - 3SBio (01530) increased by over 10% - Innovent Biologics rose by 6.82% - Kelun-Biotech (06990) gained 5.69% [1] - Fosen Pharmaceuticals (01652) saw a significant increase, with a peak rise of nearly 74% and an early gain of 59.42% following the approval of Enzalutamide soft capsules and the potential selection of Metformin and Empagliflozin for national procurement [1] - Rongchang Biopharma (09995) rose by 6.75%, reporting a 40% year-on-year revenue growth and a significant reduction in losses for the first three quarters [1] Medical Sector - Spring Medical (01858) increased by over 21%, turning a profit of HKD 77.06 million in the third quarter as the company actively expands its international market [2] New Stocks Performance - Newly listed Dipo Technology (01384) continued to rise, gaining 18.97% and doubling its stock price within three days of listing [3] Financial Sector - China Everbright Bank (06818) fell by 5% post-earnings, with both revenue and profit declining in the third quarter, facing pressure from fair value changes [4] Other Notable Stocks - Huahao Zhongtian Pharmaceutical-B (02563) experienced a significant drop of over 37% due to a large unlock of shares after one year of listing [5] - Lion Holdings (02562) plummeted over 24% to a new low, planning to issue convertible bonds to raise approximately HKD 260 million for investments in gold and related products [6] - Air China (00753) dropped over 8%, with a more than 11% decline in net profit for the third quarter, and plans to raise up to HKD 20 billion through A-share placement [7]

Group 1 - The core viewpoint of the article highlights the significant stock performance of Dipu Technology (1384.HK), which is recognized as the first "enterprise-level large model AI application stock" in the Hong Kong market, experiencing a surge of over 27% to 125.7 HKD [1] - Dipu Technology has seen a continuous rise for three consecutive trading days since its IPO, reaching a market capitalization exceeding 40 billion HKD [1] - The IPO pricing of Dipu Technology was set at 26.66 HKD, and the current price reflects an increase of over 370% from the IPO price [1] Group 2 - Dipu Technology specializes in providing enterprise-level large model AI application solutions, aimed at efficiently integrating enterprise data, decision-making operations, and production knowledge [1] - The company offers AI digital employees that deliver high-precision, zero-hallucination outputs tailored to the specific data and business logic of clients, enhancing operational decision-making and productivity [1]

Core Viewpoint - The technology sector has negatively impacted the Hong Kong stock market, with the Hang Seng Technology Index falling below 6000 points, yet there remains strong market enthusiasm for Dipu Technology (01384), which has seen its stock price increase significantly since its IPO [1] Company Overview - Dipu Technology focuses on providing enterprise-level large model AI application solutions, aiding companies in efficiently integrating data, decision-making, and operations [1] - The company utilizes its FastData Foil data fusion platform and Deepexi enterprise-level large model platform to implement Agentic AI applications within enterprises [1] Market Performance - On its third day of trading, Dipu Technology's stock price surged over 14%, reaching a high of 111.7 HKD, representing an increase of over 300% from its IPO price of 26.66 HKD [1] - As of the latest report, the stock is up 7.74%, trading at 106.5 HKD with a transaction volume of 123 million HKD [1] Client Engagement - As of June 2025, Dipu Technology has served a total of 283 enterprise clients, with a repurchase rate of 33.2%, indicating strong customer loyalty [1] Financial Performance - In the first half of 2025, the company's revenue grew by 118.4% year-on-year to 132 million HKD, with revenue from enterprise-level AI solutions increasing by 191% [1] - The gross profit margin has improved to 55%, reflecting simultaneous growth in both revenue and profitability quality [1]

Core Viewpoint - The technology sector has negatively impacted the Hong Kong stock market, with the Hang Seng Technology Index falling below 6000 points, while Dipu Technology (01384) has seen significant investor enthusiasm, rising over 300% since its IPO price [1] Company Overview - Dipu Technology focuses on providing enterprise-level AI application solutions, aiding companies in efficiently integrating data, decision-making, and operations [1] - The company utilizes its FastData Foil data integration platform and Deepexi enterprise-level AI model platform to deploy and implement Agentic AI applications in enterprises [1] Market Performance - On its third day of trading, Dipu Technology's stock price increased by over 14%, reaching a high of 111.7 HKD, and is currently trading at 106.5 HKD with a transaction volume of 1.23 billion HKD [1] - As of June 2025, Dipu Technology has served 283 enterprise clients, with a 33.2% repurchase rate, indicating strong customer loyalty [1] Financial Performance - In the first half of 2025, the company's revenue grew by 118.4% year-on-year to 132 million HKD, with revenue from enterprise-level AI solutions increasing by 191% [1] - The gross profit margin has improved to 55%, reflecting simultaneous growth in both revenue and profitability quality [1]

Core Viewpoint - Dipu Technology (01384) continues to rise significantly on its second day of trading, with a peak increase of over 47%, reaching a high of 98.8 HKD, which is more than 270% above its IPO price of 26.66 HKD [1] Group 1: Stock Performance - As of the latest update, Dipu Technology's stock is up 46.63%, trading at 97.95 HKD, with a transaction volume of 395 million HKD and a total market capitalization exceeding 30 billion HKD [1] Group 2: Company Overview - Dipu Technology focuses on providing enterprise-level large model AI application solutions, aiding companies in efficiently integrating data, decision-making, and operations [1] - The company utilizes its FastData Foil data fusion platform and Deepexi enterprise-level large model platform to implement Agentic AI applications within enterprises [1] Group 3: Client and Financial Performance - As of June 2025, Dipu Technology has served a total of 283 enterprise clients, with a repeat customer rate of 33.2%, indicating strong customer loyalty [1] - In the first half of 2025, the company's revenue grew by 118.4% year-on-year to 132 million CNY, with revenue from enterprise-level AI solutions increasing by 191%, and gross margin improving to 55%, reflecting simultaneous growth and quality in profitability [1]

Core Viewpoint - Dipu Technology (01384) continues to rise significantly on its second day of trading, with a price increase of over 270% from its IPO price of HKD 26.66, reaching a high of HKD 98.8 [1] Company Overview - Dipu Technology focuses on providing enterprise-level large model AI application solutions, aiding companies in efficiently integrating data, decision-making, and operations [1] - The company utilizes its FastData Foil data fusion platform and Deepexi enterprise-level large model platform to implement Agentic AI applications within enterprises [1] Financial Performance - As of June 2025, Dipu Technology has served a total of 283 enterprise clients, with a repeat customer rate of 33.2%, indicating strong customer loyalty [1] - In the first half of 2025, the company's revenue grew by 118.4% year-on-year to HKD 132 million, with revenue from enterprise-level AI solutions increasing by 191% [1] - The gross profit margin improved to 55%, reflecting simultaneous growth in both revenue and profitability quality [1]

Core Viewpoint - Dipu Technology has experienced significant stock price increases following its IPO, reflecting strong market interest and investor confidence in its AI solutions [1][4]. Group 1: Stock Performance - On October 30, Dipu Technology's stock opened 2.45% higher and peaked with a gain of over 35%, reaching a maximum price of 90.9 HKD per share [1]. - As of 11:15 AM on the same day, the stock was up 35.33%, trading at 90.4 HKD per share [1]. - The stock's total trading volume reached 2.753 million shares, with a total market value of 295.3 billion HKD [2]. Group 2: IPO Details - Dipu Technology was listed on the Hong Kong Stock Exchange on October 28, with its stock price surging 151% on the first day, closing at 66.80 HKD per share [4]. - The company achieved a record oversubscription of 7569.83 times during its IPO, setting a new benchmark for the Hong Kong main board [4]. Group 3: Business Overview - Dipu Technology specializes in providing enterprise-level AI application solutions, focusing on data integration, decision-making, and operational efficiency [4]. - The company utilizes its FastData Foil data integration platform and Deepexi enterprise-level AI model platform to implement AI applications in businesses [4]. - Projected revenues for Dipu Technology are 100 million HKD in 2022, 129 million HKD in 2023, and 243 million HKD in 2024, with a revenue of 132 million HKD reported for the first half of 2025, indicating significant growth [4].

Group 1 - The Hang Seng Index rose by 0.54%, gaining 141 points to close at 26,487 points, while the Hang Seng Tech Index increased by 0.31%. The morning trading volume in Hong Kong stocks reached HKD 178.7 billion [1] - Newly listed stock Dipu Technology (01384) surged by 36%, while Baima Tea (06890) rose over 8%, and Haixi New Drug (02637) increased by 7.59% [2] - The demand for energy storage driven by AI is expected to increase significantly, with CITIC Securities forecasting that total lithium battery demand will exceed 2,700 GWh next year, a year-on-year growth rate of over 30%. Energy storage battery demand is projected to exceed 900 GWh, leading to potential shortages in various lithium sectors [2] Group 2 - Ganfeng Lithium (01772) rose over 12%, and Tianqi Lithium (09696) increased by over 8% due to the strong performance of lithium mining stocks [2] - The energy storage sector saw significant gains, with Zhongchu Innovation (03931) rising over 12%, CATL (03750) increasing by 2.59%, and Shuangdeng Co. (06969) gaining over 7% [2] - Ruipu Lanjun (00666) increased by over 8% after the company launched several strategic new products covering energy storage, commercial vehicles, and passenger cars [3] Group 3 - Aneng Logistics (09956) surged by 22% following a privatization proposal from a major shareholder's consortium, with a premium rate exceeding 48% [4] - China Duty Free Group (01880) rose by 3% as the entire Hainan island is set to close in December, which is expected to boost the overall development of Hainan's tourism retail market [5] - China Hongqiao (01378) increased by nearly 7% due to recent production cuts in overseas electrolytic aluminum, which may further widen the supply-demand gap in the electrolytic aluminum market [6] Group 4 - Anjii Food (02648) rose over 8% with a 11.8% year-on-year growth in net profit attributable to shareholders in the third quarter, supported by a collaborative development across all channels [7] - The engineering machinery sector saw significant gains, with September exports continuing to grow year-on-year, and leading companies like Sany Heavy Industry (06031) rising by 9%, Senson International (02155) increasing by 8.02%, and China National Heavy Duty Truck Group (03808) gaining 3.7% [7] Group 5 - WuXi AppTec (02359) fell over 4% as the actual controller's shareholders plan to reduce their holdings by no more than 2% of the company's A-shares [8]

Core Insights - Deepexi Technology has officially listed on the Hong Kong Stock Exchange, becoming the first "enterprise-level large model AI application" stock, with an oversubscription rate of 7569.83 times, setting a record for the Hong Kong main board [1][4] - The company focuses on enterprise-level AI solutions, aiming to enhance productivity by integrating AI decision-making systems with proprietary enterprise data [1][4] - Despite high initial demand and a significant market valuation, the company faces challenges in achieving positive cash flow due to high R&D and personnel expenses [1][10] Group 1: Market Position and Competition - The AI market is witnessing intensified competition, with companies like Fourth Paradigm, Yitu Technology, and SenseTime accelerating their enterprise AI strategies [1] - Deepexi's business model is compared to Palantir, highlighting the shift from AI computing power to AI application, indicating a broader trend in the industry [2][13] - The enterprise AI market in China is projected to reach 239.4 billion RMB by 2029, with a compound annual growth rate of 44%, positioning Deepexi as a key player in this evolving landscape [14] Group 2: Financial Performance and Growth - Deepexi's revenue has shown significant growth, increasing from 100 million RMB in 2022 to 132 million RMB in the first half of 2025, with a year-on-year growth rate of 118% [9][10] - The company's gross margin improved from 29.4% in 2022 to 55% in the first half of 2025, driven by the high value of its FastAGI solutions [7][9] - Despite revenue growth, Deepexi reported net losses of 655 million RMB in 2022, 503 million RMB in 2023, and 1.255 billion RMB in 2024, indicating ongoing high investment in R&D [10] Group 3: Technological Foundation and Product Offerings - Deepexi has developed two main technological platforms: FastData Foil for data integration and Deepexi's enterprise-level model platform for customized AI solutions [5] - The company offers two primary product lines: FastData for data governance and FastAGI for AI solutions across various operational scenarios [5][8] - As of mid-2025, FastAGI accounted for 55.3% of the company's revenue, highlighting its role as a core growth driver [7] Group 4: Leadership and Investment - The founding team of Deepexi has a strong background, with CEO Zhao Jiehui previously serving as a core technology expert at Huawei and general manager at Alibaba Cloud [11][12] - The company has attracted significant investment from prominent firms, including Hillhouse Capital and IDG Capital, and has completed 10 rounds of financing prior to its IPO [12] - The net proceeds from the IPO will be allocated to enhancing R&D capabilities, expanding the sales network, and exploring overseas business opportunities [12]