Market Overview - The Hong Kong stock market experienced a significant rally, with the Hang Seng Index closing at 26,608.48 points, up 376.69 points, representing a 1.44% increase. The total trading volume reached 306.2 billion HKD [1] - The Hang Seng Tech Index also saw a strong performance, closing at 5,863.20 points, up 176.06 points, or 3.10% [2] Sector Performance - The artificial intelligence (AI) sector showed robust growth, with notable stocks such as Zhiyuan (HK02513) surging over 60% at one point and closing up 31.40%. Other AI-related stocks like MINIMAX-WP (HK00100) and MaiFushi also posted significant gains [3] - The commercial aerospace sector continued to rise, with Asia Pacific Satellite (HK01045) increasing by 18% [5] Industry Insights - Analysts believe that the recent IPOs of domestic AI large model companies signify a transition from the technical research phase to a stage where technology and commercialization are aligned, providing a basis for future financing and valuation of large model enterprises. The Chinese large language model market is projected to grow from 5.3 billion CNY in 2024 to 101.1 billion CNY by 2030, with a compound annual growth rate of 63.5% from 2024 to 2030 [5] - Recent breakthroughs in reusable rocket technology in China are seen as a significant advancement for the aerospace industry, contributing to cost reduction and technological upgrades. This development is expected to benefit related industries such as aerospace manufacturing, new materials, and satellite applications [7] Investment Trends - The IPO of Howie Group (HK00501) saw a strong debut, rising over 16% with a subscription rate of 9.28 times during the public offering phase and 9.73 times during the international placement phase [7] - There was a notable net inflow of southbound funds into Hong Kong stocks, exceeding 7.3 billion HKD by the end of the trading day [7] Future Outlook - Analysts from Huaxi Securities suggest that the recovery of market sentiment in Hong Kong will take time, with the market still influenced by large financial, commodity, and internet sectors. Structural opportunities may exist in undervalued stocks with resilient fundamentals [10] - According to Guangfa Securities, the high number of IPOs in the Hong Kong market is not expected to lead to a bear market. Instead, increased demand for the Hong Kong dollar may trigger liquidity releases by the Hong Kong Monetary Authority, potentially boosting the stock market [10]

Group 1 - A total of 114 stocks reached a 52-week high as of January 12, with LFG Investment Holdings (03938), TBKS Holdings (01960), and Zhipu (02513) leading the high rate at 111.24%, 63.93%, and 56.36% respectively [1][2] - The closing prices and peak prices for the top three stocks are as follows: LFG Investment Holdings at 3.150 and 3.760, TBKS Holdings at 0.460 and 0.500, and Zhipu at 208.400 and 258.000 [2] - Other notable stocks that reached new highs include Minimax-WP (00100) with a high rate of 36.16%, Junyu Land (01757) at 28.21%, and Cybernaut International Holdings (01020) at 23.75% [2] Group 2 - The report also lists stocks that reached a 52-week low, with the lowest being Xie Tong Communication Holdings (02996) at a low rate of -9.09% [4] - Other stocks that experienced significant declines include Chuan Cheng Education Group (08195) at -8.70% and FI II Nan Fang Nikkei (07515) at -6.27% [4] - The closing prices for the lowest stocks include Xie Tong Communication Holdings at 0.011, Chuan Cheng Education Group at 1.180, and FI II Nan Fang Nikkei at 25.680 [4]

港股收盘，恒指收涨1.44%，科指收涨3.1%，AI应用板块集体爆发，智谱(02513.HK)收涨31.4%， MINIMAX-WP(00100.HK)收涨15.36%。 本文源自：金融界AI电报 ...

在阅读文章前，辛苦您点下"关注"，方便讨论和分享。作者定会不负众望，按时按量创作出 更优质的内容 文 |小戎 哈喽，大家好，小戎这篇解读，主要来分析智谱登陆港股成"全球大模型第一股"，背后是AI行业与资 本市场的博弈，以及其夹在两条商业路径间的困境。 最近AI圈最大的瓜莫过于智谱去港股敲钟了！1月8号正式挂牌，还喜提"全球大模型第一股"的头衔，发 行价116.2港元，募资40多亿，公开发售超购1164倍——这抢筹架势，跟超市打折抢鸡蛋似的疯狂。 智谱成全球大模型第一股 可能有人会问，不就是一家公司上市吗？至于这么大动静？其实关键不在智谱本身，而在这是资本市场 第一次给"大模型"这种新物种打分。 之前2024年出门问问顶着"AIGC第一股"上市就破发，把港股对AI的信心干碎过一次，这次智谱敢上， 纯属带着整个行业的期望"闯关"。 说起来智谱也算AI圈的"老资历"了，2019年就开始捣鼓大模型，比2022年ChatGPT引爆的热潮早了三 年。当年天使轮拿了中科创星4000万，才算凑够钱买显卡训练——这波属于早期入局，熬到上市给投资 人"上岸"交了答卷。 第一个是商汤科技，上一代AI公司的代表，靠给安防、交通做定制 ...

IT之家 1 月 12 日消息，"全球大模型第一股"智谱于 1 月 8 日上午在港交所主板挂牌上市，发行价为每股 116.20 港元。 截至IT之家发文，智谱股价涨至每股 205 港元，总市值达 902.47 亿港元。 | 今开 | 182.300 | | 最高 | 214.000 | | 成交量 | 412.98万股 | | --- | --- | --- | --- | --- | --- | --- | --- | | 昨收 | 158.600 | | 畳低 | 165.100 | | 成交额 | 7.85亿 | | 换手率 | 1.91% | | 市盈(TTM) | 亏损 | | 总市值 | 902.47亿 | | 分时 | 五日 | 日K | 周K | 月K | 季K | 年K | 更多v | | 213.000 | | | | | | | 83.30% | | 164.600 | | | | | | | 41.65% | | 200 01-08 | 01-09 | | 01-12 | | | | 0.00% | 据新浪财经报道，在《未竟之约》栏目中，智谱 CEO 张鹏回应为何 AGI 还没实现公司 ...

Group 1 - The core viewpoint of the news highlights the significant rise in the stock price of Zhiyun, which surged over 60% during trading, reaching a market capitalization of over 110 billion HKD [2] - Zhiyun announced a strategic partnership with Didi to explore key technologies in General Artificial Intelligence (AGI) and their applications in the transportation sector [5] - Didi has been increasing its investment in large models and intelligent agents, developing innovative applications such as AI travel assistants and business travel assistants [5] Group 2 - Zhiyun's founder, Tang Jie, outlined three key areas for advancing AGI by 2026: scaling existing data, innovating new model architectures, and achieving multi-modal perception [5] - The focus on scaling involves enhancing data in known areas and exploring new paradigms in unknown fields [5] - The goal of multi-modal perception is to enable AI to understand and process various types of information like humans, facilitating decision-making in complex tasks [5]

股票频道更多独家策划、专家专栏，免费查阅>> 责任编辑：钟离 1月12日，港股市场AI应用概念股涨幅进一步扩大，其中，智谱一度飙升62%创上市新高，领涨板块；MINIMAX-WP涨 超30%，迈富时涨27%，微盟集团涨22%。 智谱是中国最早投身大模型研发的厂商，原创提出了基于自回归填空的通用预训练范式GLM，率先发布了中国首个百亿 模型、首个开源千亿模型、首个对话模型、首个多模态模型，以及全球首个设备操控智能体(Agent)，形成了全面的模型 体系，是国内罕有在原创技术路线上与全球顶尖水平保持同步的厂商，因此也被誉为"中国OpenAI"。 | 代码 | 名称 | | 涨跌幅 √ | 最新价 | 总市值 | 年初至今涨跌 | | --- | --- | --- | --- | --- | --- | --- | | 02513 | 智谱 | 0 | 53.85% | 244.000 | 1074.16亿 | 109.98% | | 00100 | MINIMAX-WP | | 30.61% | 450.600 | 1393.51 乙 | 173.09% | | 02556 | 迈富时 | | 27.01% | ...

Core Viewpoint - The Hong Kong stock market has seen a significant rise in AI application concept stocks, particularly with the company Zhihui (02513.HK), which has doubled its share price since its IPO, indicating strong investor interest in AI technologies [2][8]. Company Performance - Zhihui (02513.HK) reached a peak price of 258 HKD, up 56.87% from its previous close, with a total market capitalization exceeding 110 billion HKD [2][3]. - Other AI-related companies also experienced substantial gains, including MINIMAX (00100.HK) rising over 31%, Weimeng Group increasing by more than 22%, and Maifushi up over 27% [2][8]. Strategic Developments - Zhihui announced a strategic partnership with Didi to explore key technologies in general artificial intelligence (AGI) and their applications in the transportation sector, focusing on the implementation of Agent scenarios and talent development in large model fields [10]. Industry Trends - The technology sector, particularly AI applications and semiconductors, is experiencing a surge in investment, with funds increasingly flowing into these areas [4][10]. - A report from Bloomberg indicates that the profitability of China's tech giants is expected to see a significant turnaround by 2026, potentially surpassing the "Big Seven" in the US for the first time since 2022 [4][10]. - CITIC Securities highlights that as model capabilities improve, AI applications are accelerating towards commercial validation, with a focus on areas such as search & marketing, coding, multi-modal applications, Agents, and AI for Science [4][10]. Competitive Landscape - Domestic internet companies are rapidly advancing AI applications and competing for market entry, with products like Alibaba's "Qianwen," Ant Group's "Lingguang," and ByteDance's "Doubao" actively promoting a rich application ecosystem [5][10].

Group 1 - AI concept stocks saw significant gains, with Zhihui (02513) up 61.41% to HKD 256, MINIMAX (00100) up 29.91% to HKD 448.2, and Maifushi (02556) up 26.08% to HKD 48.92 [1] - DeepSeek is set to release its next-generation flagship model V4 in the coming weeks, which reportedly outperforms mainstream models like Claude and ChatGPT in code generation capabilities [1] - CITIC Securities believes that the current dynamics in the AI industry, including financing activities from overseas companies like xAI and Anthropic, along with domestic policies promoting "AI + manufacturing," will lead to a new wave of AI application enthusiasm following the launch of DeepSeek-V4 [1] Group 2 - Zhihui's stock surged over 60%, leading the AI sector, with its market capitalization surpassing HKD 100 billion [2] - The company announced a strategic partnership with Didi to explore key technologies in general artificial intelligence (AGI) and their applications in the transportation sector [2] - Dongwu Securities expressed optimism about Zhihui's strengths in local model technology, open-source ecosystem, and localized implementation capabilities, anticipating benefits from the long-term trend of transitioning from localized deployment to cloud services in China's large model industry [2]

Group 1 - AI concept stocks saw significant gains, with Zhizhu (02513) rising by 61.41% to HKD 256, MINIMAX (00100) up 29.91% to HKD 448.2, and Maifushi (02556) increasing by 26.08% to HKD 48.92 [1] - DeepSeek is set to release its next-generation flagship model V4 in the coming weeks, which reportedly has superior coding capabilities compared to mainstream models like Claude and ChatGPT [1] - CITIC Securities noted the dynamic developments in the AI industry, with overseas companies like xAI and Anthropic securing funding, and domestic policies promoting "AI + manufacturing," suggesting that the launch of DeepSeek-V4 could trigger a new wave of AI application enthusiasm [1] Group 2 - Zhizhu's stock surged over 60%, leading the AI sector, and its market capitalization surpassed HKD 100 billion [2] - The company announced a strategic partnership with Didi to explore key technologies in general artificial intelligence (AGI) and their applications in the transportation sector [2] - Dongwu Securities expressed optimism about Zhizhu's strengths in local model technology, open-source ecosystem, and localized implementation capabilities, anticipating benefits from the long-term trend of local deployment transitioning to cloud services in China's large model industry [2]