Core Viewpoint - Kingsoft Cloud (KC.US) experienced a pre-market increase of over 15%, reaching $12.71, driven by news regarding DeepSeek's upcoming release of its next-generation flagship model V4, which is reported to have superior coding capabilities compared to mainstream models like Claude and ChatGPT [1] Group 1: Company Developments - DeepSeek is set to launch its new flagship model V4 in the coming weeks, which is expected to enhance programming capabilities significantly [1] - Initial test results from DeepSeek indicate that V4 outperforms leading models in code generation [1] Group 2: Industry Trends - CITIC Securities highlights the current dynamic developments in the AI industry, noting recent financing activities by overseas companies such as xAI and Anthropic [1] - The introduction of domestic policies promoting "AI + manufacturing" is expected to stimulate growth in the sector [1] - The recent stock surges of companies like Zhipu AI and MiniMax following their listings suggest a growing interest and investment in AI applications, with the upcoming launch of DeepSeek-V4 likely to trigger a new wave of AI application enthusiasm [1]

Core Viewpoint - Kingsoft Cloud (KC.US) shares rose over 15% to $12.71 following reports that DeepSeek will launch its next-generation flagship model V4 in the coming weeks, which is expected to have superior programming capabilities compared to mainstream models like Claude and ChatGPT [1] Group 1: Company Developments - DeepSeek's internal testing indicates that V4 outperforms existing models in code generation capabilities [1] - The anticipated launch of DeepSeek-V4 is expected to trigger a new wave of AI application enthusiasm [1] Group 2: Industry Trends - CITIC Securities notes that the current AI industry is experiencing rapid developments, with overseas companies like xAI and Anthropic securing funding [1] - Domestic policies promoting "AI + Manufacturing" have been introduced, contributing to a positive market environment for AI companies [1] - The recent stock surges of companies like Zhiyun AI and MiniMax following their listings highlight the growing interest and investment in the AI sector [1]

| KC | | | | --- | --- | --- | | 11 020 + +0.040 +0.36% | | 收盘价 01/09 15:59 美东 | | 12.600↑ 1.580 +14.34% | | 盘前价 01/12 04:26 美东 | | 三 7 24 字 5 日 0 自选 | | ● 快捷交易 | | 最高价 11.410 | 开盘价 11.170 | 成交量 64.92万 | | 最低价 11.015 | 昨收价 10.980 | 成交额 721.69万 | | 平均价 11.117 | 市盈率TIM 亏损 | 总市值 33.29亿 … | | 振 幅 3.60% | 市盈率(静) 亏损 | 总股本 3.02亿 | | 换手率 0.38% | 市净率 3.445 | 流通值 18.79亿 | | 52周最高 22.260 | 委 比 -63.64% | 流通股 1.71亿 | | 52周最低 9.120 | 量 比 0.72 | 色 主 1股 | | 历史最高 74.670 | 股息TTM -- | 换股比率 15.00 | | 历史最低 1.770 | 股票率 TM -- | | ...

格隆汇1月12日｜美股市场热门中概股盘前集体上涨，其中，金山云涨超14%，脑再升科技涨超6%，阿 里巴巴涨超4%，哔哩哔哩、百度涨超3%，小鹏汽车、蔚来涨超2%。 ...

港股AI应用板块午后持续走强，智谱(02513.HK)涨超60%，MINIMAX-WP(00100.HK)涨近30%，微盟集 团(02013.HK)、金山云(03896.HK)等跟涨。 本文源自：金融界AI电报 ...

Group 1 - The recent listings of domestic AI large model companies such as MiniMax and Zhipu in Hong Kong have led to a significant rise in AI concept stocks in the Hong Kong market, with notable increases in stock prices for companies like Maifushi and MINIMAX-WP, which rose over 9% [1] - The current wave of listings is seen as a transition from the technical research phase to a stage where technology and commercialization are being implemented simultaneously, providing a basis for future financing and valuation of large model companies [1] - According to a report by Frost & Sullivan, the market size of China's large language model is projected to reach 5.3 billion yuan in 2024 and is expected to grow to 101.1 billion yuan by 2030, with a compound annual growth rate of 63.5% from 2024 to 2030 [1] Group 2 - The stock performance of key AI companies includes Maifushi with a 9.64% increase, MINIMAX-WP with a 9.39% increase, and Fourth Paradigm with an 8.49% increase, among others, indicating strong market interest [2] - MINIMAX-WP has seen a remarkable year-to-date increase of 128.73%, reflecting investor confidence and market potential [2] - The total market capitalization of these companies varies, with MINIMAX-WP at 116.71 billion yuan and Maifushi at 108.95 billion yuan, showcasing the financial scale of these emerging players in the AI sector [2]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年12月31日 狀態: 新提交 呈交日期: 2026年1月7日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 03896 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 40,000,000,000 | USD | | 0.001 | USD | | 40,000,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 40,000,000,000 | USD | | 0.001 | USD | | 40,000,000 | 本月底法定/註冊股本總額： USD 40,000,000 FF301 第 ...

Group 1 - The core point of the article is that Beijing Kingsoft Cloud Network Technology Co., Ltd. and its affiliated companies have applied for a patent related to a fault determination method for computing clusters, which aims to improve fault localization efficiency during large model training tasks [1][2]. Group 2 - Beijing Kingsoft Cloud Network Technology Co., Ltd. was established in 2011, has a registered capital of 200 million RMB, and has invested in 14 companies while participating in 1,019 bidding projects [2]. - Beijing JinXun RuiBo Network Technology Co., Ltd. was founded in 2015, has a registered capital of 10 million RMB, and has invested in 3 companies with 10 bidding project participations [2]. - Beijing Kingsoft Cloud Technology Co., Ltd. was established in 2012, has a registered capital of 910 million RMB, and has invested in 14 companies while holding 429 trademark records and 693 patent records [2].

Core Viewpoint - Chinese assets experienced a strong start in 2026, with significant gains in various indices and stocks, indicating a continuation of the structural bull market from 2025 and a clear investment theme for the year ahead [1][2]. Group 1: Performance of Chinese Assets - The Nasdaq Golden Dragon China Index surged nearly 4%, while leveraged ETFs for Chinese stocks saw increases of over 10% and 8% respectively [2]. - Major Chinese stocks performed well, with Baidu Group rising over 12%, and other notable gains from companies like WanGuo Data and JinkoSolar, which increased by over 8% and 7% respectively [2]. - The Hong Kong market also showed strong performance, with the Hang Seng Index up 2.76% and the Hang Seng Technology Index up 4% [2]. Group 2: Currency Movements - The offshore RMB/USD exchange rate broke above 6.97, reaching a high of 6.9662, marking the strongest level since May 2023 [3]. - Factors contributing to the RMB appreciation include a strong Chinese stock market, increased demand for currency conversion from export companies, and a weakening US dollar [4]. Group 3: Global Market Trends - Global markets continued their strong performance from 2025, with Asian markets achieving their best opening since 2012, led by gains in AI and semiconductor stocks [5]. - Major US tech stocks also saw gains, with the Philadelphia Semiconductor Index rising over 4% and ASML ADR increasing by over 8% [6]. - Investor sentiment remains optimistic, with significant net inflows into global equity funds, totaling $26.54 billion in the last week of 2025 [6].

Group 1 - Baidu's stock increased by over 12% [1] - NetEase's stock rose by more than 6% [1] - NIO's stock gained over 5% [1] Group 2 - New Oriental, GDS Holdings, Kingsoft Cloud, and Alibaba all saw stock increases of over 4% [1] - Bilibili's stock rose by more than 3% [1] - Li Auto, Pony.ai, Futu Holdings, TSMC, JD.com, JinkoSolar, Beike, Pinduoduo, Tencent Music, iQIYI, and Bawang Tea all experienced stock increases of over 2% [1]