港股频道更多独家策划、专家专栏，免费查阅>> 责任编辑：栎树 格隆汇1月12日｜港股市场AI应用股集体飙升，其中，智谱涨19%创上市新高，微盟集团涨超16%，迈 富时涨超13%，MINIMAX-WP涨超11%创上市新高，第四范式涨超10%，医渡科技涨超8%，金蝶国 际、汇量科技涨超7%，美图公司、微创机器人-B涨超6%，浪潮数字企业、金山云、商汤-W、出门问问 涨超5%。 | 代码 | 名称 | | 涨跌幅 √ | 最新价 | 总市值 | | --- | --- | --- | --- | --- | --- | | 02513 | 智谱 | 0 | 19.04% | 188.800 | 831.15亿 | | 02013 | 微體集团 | | 16.42% | 2.340 | 92.67 亿 | | 02556 | 迈富时 | | 13.20% | 43.920 | 112.48亿 | | 00100 | MINIMAX-WP | | 11.88% | 386.000 | 1193.73亿 | | 06682 | 第四范式 | | 10.31% | 54.800 | 284.51亿 | | 02158 | ...

来源：格隆汇APP 业内普遍认为，本轮国产AI大模型企业上市，或标志着行业从技术研发阶段发展至技术和商业化同步 落地、商业模式逐步清晰的阶段，也将为后续大模型企业融资及估值提供依据。从更长周期看，人工智 能仍处在高速扩张通道。根据弗若斯特沙利文报告，2024年中国大语言模型市场规模已达到53亿元，估 计到2030年中国大语言模型市场规模将增至1011亿元，2024年至2030年的复合年增长率为63.5%。 | 代码 | 名称 | 涨跌幅 √ | 最新价 | 总市值 | 年初至今涨跌 | | --- | --- | --- | --- | --- | --- | | 02556 | 迈富时 | 9.64% | 42.540 | 108.95亿 | 21.47% | | 00100 | MINIMAX-WP | 9.39% | 377.400 | 1167.13亿 | 128.73% | | 06682 | 第四范式 | 8.49% | 53.900 | 279.84亿 | 22.44% | | 02513 | 智谱 | 7.63% | 170.700 | 751.47亿 | 46.90% | | 00268 | ...

每经AI快讯，1月12日，港股人工智能概念股走强。截至发稿，智谱(02513.HK)涨14.94%、微盟集团 (02556.HK)涨5.97%、第四范式(06682.HK)涨4.17%。 （文章来源：每日经济新闻） ...

在大语言模型(LLM)集体陷入"越练越大、越用越虚"的困局之际，1月9日，人工智能领军企业范式智能(06682)震撼发布Phanthy平台(中文名：万神殿)，宣告 一个新智能范式的诞生。这不仅是对当前主流AI路线的彻底颠覆，更是一条绕过"通用幻觉"、直通可信赖、可行动、可验证通用人工智能(AGI)的工程化高 速路。 面对银行风控系统，无法解释一笔贷款为何高风险；在工厂产线上，看不懂设备振动频谱与故障的因果关联；问及患者病史与用药冲突，只能给出模糊概 率，无法进行临床级推理；更致命的是——它们不知道自己不知道什么，常以自信口吻输出错误结论。 "大语言模型本质上是一个超大规模的'互联网记忆压缩器'，它没有世界模型，没有因果机制，没有责任边界。"范式智能首席科学家指出，"你可以让它写一 篇关于核电站安全的论文，但它绝不能参与真正的核控决策——因为它不懂物理，也不懂后果。" 而Phanthy的答案是：把AI从'全知全能的神'还原为'各有所长的专家'。 不是更大，而是更深：Phanthy如何做到LLM做不到的事? Phanthy并非又一个千亿参数的语言模型，而是一个由生成式协调中枢+多个垂直世界模型构成的智能操作系统。 ...

智通财经APP获悉，在大语言模型(LLM)集体陷入"越练越大、越用越虚"的困局之际，1月9日，人工智能领军企业范式智能(06682)震撼发布Phanthy平台(中 文名：万神殿)，宣告一个新智能范式的诞生。这不仅是对当前主流AI路线的彻底颠覆，更是一条绕过"通用幻觉"、直通可信赖、可行动、可验证通用人工 智能(AGI)的工程化高速路。 过去两年，GPT、Claude、Gemini 等大模型轮番登场，看似百花齐放，实则同质内卷。它们擅长写诗、编故事、总结网页，却在真实产业场景中频频"翻 车"： 面对银行风控系统，无法解释一笔贷款为何高风险；在工厂产线上，看不懂设备振动频谱与故障的因果关联；问及患者病史与用药冲突，只能给出模糊概 率，无法进行临床级推理；更致命的是——它们不知道自己不知道什么，常以自信口吻输出错误结论。 "大语言模型本质上是一个超大规模的'互联网记忆压缩器'，它没有世界模型，没有因果机制，没有责任边界。"范式智能首席科学家指出，"你可以让它写一 篇关于核电站安全的论文，但它绝不能参与真正的核控决策——因为它不懂物理，也不懂后果。" 而Phanthy 的答案是：把AI从'全知全能的神'还原为'各有所 ...

Core Viewpoint - The successful IPO of Tensu Zhixin (09903) on January 8 marks a significant milestone for the domestic high-end computing chip industry, reflecting strong market interest and confidence in domestic AI capabilities [1] Group 1: IPO and Market Response - Tensu Zhixin's stock price surged by 31.54% at opening, leading to a market capitalization exceeding 40 billion HKD, indicating robust investor enthusiasm for domestic high-performance computing chips [1] - The IPO attracted 18 cornerstone investors, including major players like ZTE Corporation (Hong Kong) and UBS AM Singapore, with total subscription commitments reaching 1.583 billion HKD [1] Group 2: Strategic Partnership with Paradigm Intelligence - The collaboration between Paradigm Intelligence and Tensu Zhixin extends beyond capital investment to include deep technological synergy and business collaboration [2] - Paradigm Intelligence's strategic investment aims to bridge the gap between domestic computing hardware and AI applications, fostering a self-sufficient AI computing foundation [2] - The introduction of Paradigm's ModelHub XC and EngineX addresses compatibility issues between domestic computing and large models, facilitating easier deployment of AI models for enterprise clients [2] Group 3: Benefits for Paradigm Intelligence - Tensu Zhixin's strong market performance enhances the value of Paradigm Intelligence's holdings, optimizing its asset structure and elevating its valuation [3] - The IPO provides Tensu Zhixin with increased funding for R&D and capacity expansion, ensuring a stable and cost-effective supply of domestic computing resources for Paradigm Intelligence [3] - The partnership creates a "software + hardware" synergy, establishing a competitive edge and a robust technological moat for Paradigm Intelligence in the enterprise AI market [3] Group 4: Market Implications - The listing of Tensu Zhixin signifies a pivotal moment in the maturation of the domestic AI industry, accelerating the development of a stable and efficient domestic computing ecosystem [4] - The domestic GPU market is projected to exceed 100 billion CNY in the next five years, with ongoing collaboration between Paradigm Intelligence and Tensu Zhixin expected to drive practical applications of domestic computing in enterprise scenarios [4] - The "soft and hard integration" model shortens the conversion cycle from laboratory to production line, enhancing client adoption willingness and project delivery certainty [4] Group 5: Future Outlook - The successful IPO of Tensu Zhixin is a key achievement for the domestic GPU industry and a significant outcome of Paradigm Intelligence's strategic positioning [5] - The close partnership is anticipated to accelerate the maturation of the domestic AI computing ecosystem and provide Paradigm Intelligence with robust growth momentum in the wave of AI large model applications [5]

Core Viewpoint - The successful IPO of Tensu Zhixin (09903) on the Hong Kong Stock Exchange marks a significant milestone for the domestic high-end computing chip industry, reflecting strong market interest and confidence in domestic AI capabilities [1][3]. Group 1: IPO and Market Response - Tensu Zhixin's stock price surged by 31.54% after opening, leading to a market capitalization exceeding 40 billion HKD, indicating robust investor enthusiasm for domestic high-end computing chips [1]. - The IPO attracted 18 cornerstone investors, including major players like ZTE Corporation and UBS AM Singapore, with total commitments reaching 1.583 billion HKD, showcasing strong backing for the company [1]. Group 2: Strategic Partnership with Paradigm Intelligence - The collaboration between Tensu Zhixin and Paradigm Intelligence goes beyond financial investment, focusing on strategic investment and ecosystem collaboration to bridge the gap between domestic computing hardware and AI applications [1]. - Paradigm Intelligence's ModelHub XC and EngineX address compatibility issues between domestic computing power and large models, facilitating easier deployment of AI models for enterprise clients [1]. Group 3: Benefits for Paradigm Intelligence - The strong performance of Tensu Zhixin's stock enhances the value of Paradigm Intelligence's holdings, optimizing its asset structure and improving its valuation [2]. - The IPO provides Tensu Zhixin with increased funding for R&D and capacity expansion, ensuring a stable and cost-effective supply of domestic computing power for Paradigm Intelligence [2]. - The deep collaboration with Tensu Zhixin creates a "software + hardware" synergy, establishing a competitive edge in the enterprise AI market [2]. Group 4: Market Implications - Tensu Zhixin's IPO signifies a pivotal moment for the maturation of the domestic AI industry, providing a stable and efficient foundation for domestic AI chips to transition from "usable" to "user-friendly" [3]. - The domestic GPU market is expected to exceed 100 billion CNY in the next five years, with ongoing collaboration between Paradigm Intelligence and Tensu Zhixin driving practical applications of domestic computing power in enterprise scenarios [3]. - The "soft and hard integration" cooperation model shortens the conversion cycle from laboratory to production line, enhancing client adoption willingness and project delivery certainty [3]. Group 5: Future Outlook - The successful listing of Tensu Zhixin is a key achievement for the domestic GPU industry and a significant outcome of Paradigm Intelligence's strategic layout, promising stronger growth momentum and broader development space in the AI large model application wave [4]. - The close cooperation between Paradigm Intelligence and Tensu Zhixin is expected to contribute to a new chapter in China's AI industry and promote independent innovation [4].

智通财经APP获悉，近日，范式智能（06682）宣布，旗下「信创模盒」ModelHub XC已完成对智谱 （02513）共计26款主流模型的全面适配与深度优化。此次适配覆盖多模态对话、文本生成、文生视频等 丰富AI任务类型，进一步强化了信创模盒在国产算力环境下即开即用的模型生态能力。 未来，范式智能将继续携手智谱等优秀模型方，以及海光、沐曦等算力伙伴，深化软硬协同优化，持续 拓展模型生态边界。公司旨在通过「信创模盒」这一枢纽平台，携手更多生态伙伴，共同推动AI技术在 各行各业实现安全、高效、规模化的应用，为构建成熟、开放的国产AI基础设施生态持续贡献力量。 智谱是一家国内大模型领域的重要公司，即将于1月8日在香港联交所主板挂牌上市。其业务专注于多模 态对话、文本与视频生成等技术的商业化，为企业与开发者提供AI解决方案与平台服务。 范式智能是一家2014年成立的上市公司，是中国AI+企业服务领域的领导者，2025年实现集团化升级后， 公司主营业务涵盖面向企业服务的B端业务第四范式，以及面向消费电子市场的C端业务Phancy。 范式智能与智谱的技术协同，是国产软硬件生态融合的又一实践。此次与智谱模型的深度融合，不 ...

FF301 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 公司名稱: 北京第四範式智能技術股份有限公司 (於中華人民共和國註冊成立的股份有限公司) 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 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06682 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 320,809,496 | RMB | | | 1 RMB | | 320,809,496 | | 增加 / 減少 (-) | | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 320,809,496 | RMB | | | 1 RMB | | 320,809,49 ...

人民财讯1月6日电，企查查APP显示，近日，海南范式智能投资有限公司成立，经营范围包含以自有资 金从事投资活动；人工智能基础软件开发；人工智能应用软件开发；人工智能公共服务平台技术咨询服 务；人工智能硬件销售等。企查查股权穿透显示，该公司由第四范式全资子公司第四范式(北京)技术有 限公司等共同持股。 ...