记者丨刘雪莹 高升 编辑丨倪新平 2026年首个交易日（1月2日），港股迎来开门红，恒生指数涨超700点，涨幅达2.76%，恒生科技指数 涨4%。 | 名称 | 现价 | 涨跌 | 涨跌幅 ▼ | | --- | --- | --- | --- | | 万得(港股)中国科技龙头指数 | 9390.99 c | 369.54 | 4.10% | | 恒生科技 | 5736.44 c | 220.46 | 4.00% | | 万得(港股)中国科技指数 | 2626.07 c | 83.72 | 3.29% | | 恒生中国企业指数 | 9168.99 c | 255.31 | 2.86% | | 恒生中国(香港上市)100 | 7517.71 c | 206.21 | 2.82% | | 恒生指数 | 26338.47 c | 707.93 | 2.76% | "港股GPU第一股"壁仞科技上市首日一度涨近120%，收盘涨超75%，总市值达826亿港元。半导体板块 涨幅居前，华虹半导体涨超9%，中芯国际涨超5%。 科网股午后持续走强，百度集团涨超9%，新东方涨超7%，网易涨超6%，阿里巴巴、腾讯控股涨超 4%，快手 ...

Market Performance - The Hong Kong stock market showed strong performance on the first trading day of 2026, with the Hang Seng Index surpassing 26,000 points, closing up 2.76% or 707.93 points at 26,338.47 points, with a total turnover of HKD 140.86 billion [1] - The Hang Seng Tech Index rose by 4%, closing at 5,736.44 points, indicating a positive sentiment in technology stocks [1] Blue-Chip Stocks - Baidu Group-SW (09888) led blue-chip stocks, rising 9.35% to HKD 143.8, contributing 12.42 points to the Hang Seng Index, with a trading volume of HKD 4.778 billion [2] - Baidu announced plans to spin off Kunlun Chip for independent listing, with an estimated valuation of USD 16 billion to USD 23 billion, suggesting Baidu's stake could be valued between USD 9 billion to USD 13 billion [2] - Other notable blue-chip performers included New Oriental-S (09901) up 7.15%, China Life (02628) up 5.33%, and Tencent (00700) up 4.01% [2] Sector Performance - The commercial aerospace sector saw a significant surge, with China Technology Group (01725) up 42.86% and Asia Pacific Satellite (01045) up 34.53% following the acceptance of Blue Arrow Aerospace's IPO application [3] - Semiconductor stocks also performed well, with Hua Hong Semiconductor (01347) up 9.42% and SMIC (00981) up 5.11%, driven by industry trends and acquisitions [4] - The robotics sector continued its upward trend, with notable gains from companies like Lijiang Technology (00558) and Jinli Permanent Magnet (06680) [4] Policy Impact - The National Development and Reform Commission and the Ministry of Finance announced a new policy for large-scale equipment updates and consumer goods replacement, expected to boost domestic appliance consumption [7] - Companies in the home appliance sector, such as Skyworth Group (00751) and Midea Group (00300), saw significant stock price increases, reflecting positive market sentiment towards the new policy [6][7] Notable Stock Movements - Wall Street's first trading day of 2026 saw significant movements, with Biran Technology (06082) debuting at a 75.82% increase, focusing on GPGPU chips for AI computing [7] - Meitu Company (01357) issued USD 250 million convertible bonds to Alibaba, which will make Alibaba the third-largest shareholder, indicating a strategic partnership [8] - Likin Resources (02245) received approval for its A-share IPO, reflecting confidence in its comprehensive industry chain in nickel trading and production [9]

消息层面，继摩尔线程、沐曦在A股上市之后，壁仞科技在港股上市，成为"港股通用GPU第一股"；百 度集团今日公告，子公司昆仑芯已于1月1日通过其联席保荐人以保密形式，向香港联交所提交上市申请 表格，申请在主板上市及买卖。 个股方面，"港股GPU第一股"壁仞科技上市首日大涨超75%；华虹半导体涨超9%，中芯国际涨超5%， 引领半导体板块；另外，科技股集体大涨，百度集团涨超9%，网易涨超6%，阿里巴巴、腾讯控股涨超 4%。 1月2日，港股迎来2026年的首个交易日。截至收盘，港股恒生指数涨2.76%，报26338.47点，恒生科技 指数涨4%，报5736.44点，国企指数涨2.86%，报9168.99点，红筹指数涨1.7%，报4083.91点。 ...

Core Viewpoint - Wallen Technology Co., Ltd. (壁仞科技) successfully listed on the Hong Kong Stock Exchange, closing at HKD 34.46, a 75.82% increase from its final offering price of HKD 19.60 [1][2]. Group 1: Company Overview - Wallen Technology specializes in developing General-Purpose Graphics Processing Unit (GPGPU) chips and intelligent computing solutions for artificial intelligence [1]. - The company issued a total of 284,846,600 shares before the exercise of the over-allotment option, with 49,538,600 shares allocated for public offering and 235,308,000 shares for international offering [2][3]. Group 2: Financial Details - The total amount raised from the offering was HKD 5,583.0 million, with net proceeds of HKD 5,374.5 million after deducting estimated listing expenses of HKD 208.5 million [2][3]. - The net proceeds will be used for research and development of intelligent computing solutions, commercialization of these solutions, working capital, and other general corporate purposes [3]. Group 3: Investor Participation - Key cornerstone investors include 3W Fund Management Limited, Qiming Venture Partners, and several insurance and investment firms, indicating strong institutional interest [6][8]. - The cornerstone investors collectively hold significant shares, with 3W Fund Management Limited owning 31,769,600 shares, representing 11.15% of the total shares issued [7]. Group 4: Financial Performance Projections - Wallen Technology's projected revenues for 2022, 2023, 2024, and the first half of 2025 are RMB 0.5 million, RMB 62.0 million, RMB 336.8 million, and RMB 58.9 million, respectively [8][10]. - The company is expected to incur substantial losses over these years, with total losses amounting to RMB 6,356.9 million from 2022 to mid-2025 [10][11]. Group 5: Cash Flow Analysis - The net cash outflow from operating activities for the years 2022 to 2025 is projected to be RMB 1,183.6 million, RMB 847.1 million, RMB 1,009.2 million, and RMB 1,073.3 million, respectively [11][12]. - The company’s cash and cash equivalents are expected to fluctuate significantly, reflecting the ongoing investment in R&D and operational activities [12].

Core Viewpoint - The Hong Kong stock market started 2026 with a strong performance, indicating a continuation of the structural bull market from 2025, with a clear investment focus on hard technology sectors like semiconductors, AI, and smart hardware, as well as policy-driven consumption sectors like home appliances and automobiles [1][5]. Market Performance - The Hang Seng Index rose by 2.76% to close at 26,338.47 points, while the Hang Seng Technology Index surged by over 4% to 5,736.44 points, and the Hang Seng China Enterprises Index increased by 2.86% to 9,168.99 points [1]. Semiconductor Sector - The semiconductor sector saw significant gains, driven by mergers and acquisitions as well as domestic production initiatives. Notable stock performances included Huahong Semiconductor (up 9.42%), SMIC (up 5.11%), and Jingmen Semiconductor (up 3.53%) [5][6]. - Huahong Semiconductor announced a major asset restructuring plan to acquire a 97.5% stake in Huali Micro for a transaction price of 8.268 billion yuan, alongside plans to raise up to 7.556 billion yuan for technology upgrades [6][7]. Internet Technology Sector - Internet technology stocks rebounded strongly, with Baidu Group rising by 9.53%, NetEase by 6.62%, and Alibaba by 4.34%. A key catalyst was Baidu's announcement of its AI chip subsidiary Kunlun's application for a mainboard listing [9][10]. - Kunlun's expected revenue for 2025 is around 5 billion yuan, with a potential valuation of 3 to 11 billion USD for Baidu's stake in the company [11]. Home Appliances Sector - Home appliance stocks benefited from favorable policies, with Skyworth Group rising by 10.45%, Midea Group by 5.12%, and Haier Smart Home by 4.20%. The National Development and Reform Commission and the Ministry of Finance announced a new policy to support large-scale equipment updates and trade-in programs [11][12]. - The new policy is expected to alleviate sales pressure in the short term and benefit leading companies with R&D and brand advantages in the long term [13]. Automotive Sector - Several automotive stocks gained, including Li Auto (up 4.93%) and BYD (up 3.57%), supported by the implementation of the "old-for-new" vehicle trade-in policy [14][16]. - The policy allows consumers to receive subsidies for trading in eligible old vehicles for new ones, which is expected to stimulate market confidence [16]. Solar Energy Sector - Solar energy stocks saw gains, with GCL-Poly Energy rising by 20.99% and GCL-Technology by 4.72%. The market regulator is enhancing compliance guidance for price competition in the solar industry [17]. Commercial Aerospace Sector - Commercial aerospace stocks performed well, with Asia Pacific Satellite rising by 34.53% and Aerospace Holdings by 18.33%. Blue Arrow Aerospace's IPO application was accepted, marking a significant milestone in the sector [18][19]. Individual Stock Movements - Delin Holdings rose by 11.76% following the conditional approval of its subsidiary to provide virtual asset trading services [21]. - Meitu Inc. increased by 6.14% after issuing $250 million in convertible bonds to Alibaba, which could make Alibaba the third-largest shareholder in Meitu [22].

Market Performance - The Hong Kong stock market opened strong on the first trading day of 2026, with the Hang Seng Index rising by 2.76% to 26,338.47 points, the Hang Seng Tech Index increasing by 4% to 5,736.44 points, and the National Enterprises Index up by 2.86% to 9,168.99 points [1] Technology Sector - Major tech stocks performed well, with Alibaba-W up by 4.34%, Tencent Holdings rising by 4.01%, and JD Group-SW increasing by 3.14%. Notably, Baidu's stock surged over 9% following the announcement of its subsidiary Kunlun Chip's application for a mainboard listing on the Hong Kong Stock Exchange [2] - The semiconductor sector showed strength, with Hua Hong Semiconductor rising over 9% after announcing plans to acquire a 97.4988% stake in Huali Micro for a transaction price of 8.268 billion RMB and to raise 7.556 billion RMB through a stock issuance [2] Electric Vehicle Sector - XPeng Motors-W delivered 37,500 smart electric vehicles in December 2025, a 2% year-on-year increase, with total deliveries for 2025 reaching 429,400 units, up 126% from the previous year [4] - Geely Automobile's total sales in December 2025 were 236,817 units, a 13% year-on-year increase, with total sales for the year reaching 3,024,567 units, up 39% [4] - NIO-SW delivered 48,100 vehicles in December 2025, marking a 54.6% year-on-year increase, with cumulative deliveries reaching 997,600 units [4] - BYD's new energy vehicle sales in December 2025 were 420,398 units, down approximately 18.2% year-on-year, while total sales for the year reached 4,602,436 units, up 7.73% [4] Institutional Insights - Everbright Securities noted that the overall profitability of the Hong Kong stock market is relatively strong, with sectors like internet, new consumption, and innovative pharmaceuticals being relatively scarce. Despite recent gains, valuations remain low, suggesting long-term investment opportunities [5] - CITIC Securities highlighted that the Hong Kong market is expected to experience a second round of valuation recovery and performance revival in 2026, driven by internal and external economic factors [5] - Guolian Minsheng Securities indicated that the first half of 2026 will benefit from a weak domestic economic recovery and continued monetary easing from the Federal Reserve, with significant inflows of southbound capital expected [6]

the of which will be the sent track like had deliver and would and and with world l 来源：滚动播报 壁仞科技港股上市首日收涨75.8%，报34.46港元，市值825.71亿港元。 ...

Market Performance - The Hong Kong stock market experienced a strong start in 2026, with the Hang Seng Index rising by 2.76% to close at 26,338.47 points, the Hang Seng China Enterprises Index increasing by 2.86%, and the Hang Seng Tech Index gaining 4% [1] Company Highlights - Baidu's stock surged by 9.35% following the announcement of its plan to spin off Kunlun Chip for a listing in Hong Kong [1] - Technology stocks collectively rose, with Tencent and Alibaba both increasing by over 4%, while Kuaishou and JD.com saw gains of over 3% [1] - Semiconductor stocks showed strong performance, with Hua Hong Semiconductor rising by 9.4% after securing 7.556 billion yuan for an A-share acquisition of Huali Micro, excluding cash components, and SMIC increasing by over 5% [1] - Wall Street's "four domestic GPU dragons," including Birun Technology, saw a significant first-day increase of 75.8%, bringing its total market capitalization close to 81.3 billion HKD [1] - Goldwind Technology's stock rose nearly 21% after Blue Arrow Aerospace's IPO application was accepted, in which the company holds a stake [1] - Other wind power equipment stocks also saw gains, with Shanghai Electric increasing by 6.7% and Harbin Electric rising by nearly 6% [1] - Gaming stocks experienced a broad increase, with NetEase, Zhongjiu Game, and Qingci Game all rising by over 6%, as 1,771 game licenses were issued in 2025, marking the highest number in nearly seven years [1]

1月2日消息，港股三大指数高开高走。截至收盘，恒生指数涨2.76%，报26338.47点，恒生科技指数涨 4%，国企指数涨2.86%。盘面上，科网股全线上涨，百度涨超9%，网易涨超6%，阿里巴巴、腾讯涨超 4%，快手、京东、联想、哔哩哔哩涨超3%，小米涨超2%；电力设备股大涨，金风科技涨超20%；半导 体板块强势，华虹半导体涨超9%；机器人概念继续走高，力劲科技涨超6%；壁仞科技首日盘中一度涨 超118%。 机器人概念继续走高，力劲科技涨超6%。近期市场有传闻称，供应商陆续在北美拜访，特斯拉Optimus 发包在即，市场已经开始预热。银河证券发布研报称，特斯拉Optimus第三代机器人预期2026年发布， 预计明年量产数万台，近期产业链交流频繁，量产、定价、审厂定点等确定性事件临近。 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 壁仞科技上市首日涨超75%，盘中一度涨超118%。壁仞科技此次IPO发行价定为每股19.60港元，全球发 售2.848亿股，募资总额约55.83亿港元，成为香港上市规则18C章节实施以来募资规模最大的特专科技 项目。其公开发售部分获得空前追捧，录得2347.53倍 ...

Core Insights - Wallan Technology, a leading domestic GPU company, successfully listed on the Hong Kong Stock Exchange, becoming the first listed company in Hong Kong in 2026 with an issue price of HKD 19.6 per share and an opening price of HKD 35.7 per share, resulting in a market capitalization of HKD 85.542 billion [2] Group 1: Company Overview - Wallan Technology was founded in 2019 and is recognized as a leading provider of general intelligent computing solutions in China [4] - The company focuses on original core architecture and has pioneered the Chiplet high-performance chip, aiming to build a technology system that integrates software and hardware innovation [4] - Wallan Technology has developed its first-generation GPGPU architecture and a series of hardware based on GPGPU, including the Walli™ 106, Walli™ 110, and the higher-performance Walli™ 166 chip products, which are applied in key industries such as AI data centers, telecommunications, AI solutions, energy and utilities, fintech, and the internet [4] Group 2: Investment and Support - Qiming Venture Partners has been a steadfast supporter of Wallan Technology since its inception, leading the company's first round of financing and continuing to support its development [2] - Qiming Venture Partners is the largest external institutional investor in Wallan Technology and plays a significant role as a senior independent investor [2] Group 3: Future Outlook - Wallan Technology's CEO, Zhang Wen, emphasized that becoming a public company brings greater responsibility and that the company will continue to increase R&D investment to advance the development of fully autonomous and controllable products [4] - The company aims to enhance the safety, stability, and resilience of China's intelligent computing industry and lead the high-quality development of the AI industry [4] - Qiming Venture Partners' managing partner, Zhou Zhifeng, expressed optimism about Wallan Technology's future, highlighting the importance of continuous technological innovation and the company's role in contributing to the AI ecosystem both in China and globally [4]