1月8日，天数智芯(09903)正式在香港交易所主板挂牌上市。开盘后股价一度飙升31.54%，市值超400亿 港元。展现出资本市场对国产高端算力芯片的强烈兴趣与坚定信心。 此次IPO中，天数智芯吸引了包括中兴通讯(香港)、UBS AM Singapore、华胜天成（600410）(香港)以 及人工智能领域的领军企业范式智能(06682)在内的18家基石投资者，这些投资者承诺认购总额高达 15.83亿港元的发售股份。特别是作为深度合作伙伴的范式智能的加入，不仅彰显了其对国产算力生态 的看好，更标志着双方在资本和技术层面的深度融合。 深度绑定：范式智能与天数智芯的协同效应 范式智能与天数智芯的合作超越了简单的资本投资，深入到了技术协同与商业共生的核心层面： 战略投资与生态协同：范式智能通过旗下基金对天数智芯进行战略投资，并致力于打通国产算力硬件与 上层AI应用之间的壁垒，共同构建自主可控的AI算力底座。 天数智芯的上市不仅是其自身发展的里程碑，更是国产AI产业迈向成熟的标志性事件。双方从资本到 技术的深度协同，加速了国产AI算力生态的成熟，提供了稳定、高效、安全的国产算力保障，为国产 AI芯片从"能用"走向"好用 ...

智通财经APP获悉，1月8日，天数智芯(09903)正式在香港交易所主板挂牌上市。开盘后股价一度飙升 31.54%，市值超400亿港元。展现出资本市场对国产高端算力芯片的强烈兴趣与坚定信心。 战略投资与生态协同：范式智能通过旗下基金对天数智芯进行战略投资，并致力于打通国产算力硬件与 上层AI应用之间的壁垒，共同构建自主可控的AI算力底座。 技术适配与市场拓展：范式智能推出的ModelHub XC及底层引擎EngineX，解决了国产算力与大模型之 间的适配问题，使得企业客户能够便捷地部署和运行AI模型，降低了使用门槛并提升了市场接受度。 上市对范式智能的三重利好 天数智芯的成功上市及其在资本市场的优异表现，为范式智能带来了显著的积极影响： 1. 投资价值重估与财务收益：天数智芯股价的强劲表现直接提升了范式智能所持股份的价值，优化了资 产结构，并提升了自身的估值水平。 2. 强化供应链安全与算力自主权：天数智芯上市后将获得更充裕的资金用于研发和产能扩张，确保范式 智能在未来能获得更加稳定、先进且成本可控的国产算力供应，降低对单一海外供应商的依赖。 3. 提升技术壁垒与市场竞争力：通过与天数智芯的深度合作，范式智能 ...

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。 ...

Core Insights - The report highlights the changes in the Hong Kong Stock Connect holdings, indicating significant increases and decreases in ownership percentages for various companies as of December 31, 2025 [1] Group 1: Increased Holdings - Andeli Juice (02218) saw the largest increase in ownership percentage, rising by 2.35% to a total holding of 23.75% [2] - Mengniu Dairy (02319) experienced a slight increase of 0.07%, bringing its holding to 17.52% [2] - The Yingfu Fund (02800) had a minimal increase of 0.02%, resulting in a holding of 1.78% [2] - Other notable increases include Lion Group (02562) with a 3.79% rise to 49.05% and Zhejiang Shibao (01057) with a 3.55% increase to 58.76% [3] Group 2: Decreased Holdings - Country Garden (02007) faced the largest decrease, with a drop of 0.51% to a holding of 15.33% [2] - Geely Automobile (00175) saw a reduction of 0.16%, resulting in a holding of 11.37% [2] - Huaxia Hengsheng Technology (03088) experienced a minor decrease of 0.02%, leading to a holding of 20.19% [2] - Other significant decreases include Jiahe Biotechnology-B (06998) with a 1.74% drop to 0.61% and Chalco International (02068) with a 1.50% decrease to 19.44% [3] Group 3: Five-Day Changes - Over the last five trading days, Lion Group (02562) had the highest increase in ownership percentage, up by 3.79% [3] - Zhejiang Shibao (01057) and Sanhua Intelligent Control (02050) also saw significant increases of 3.55% and 3.46%, respectively [3] - Conversely, Jiahe Biotechnology-B (06998) had the largest decrease of 1.74% over the same period [3] Group 4: Twenty-Day Changes - In the last twenty days, Lion Group (02562) experienced a substantial increase of 23.92% in ownership [4] - Jihong Co., Ltd. (02603) followed with a 22.62% increase, reaching a holding of 54.86% [4] - Red Star Macalline (01528) also saw an increase of 8.47%, bringing its holding to 52.20% [4]

Core Viewpoint - TianShu ZhiXin Semiconductor Co., Ltd. (stock code: "9903") has initiated its IPO process, aiming for a listing on the Hong Kong Stock Exchange on January 8, 2026, with an issue price of HKD 144.60 per share and a total fundraising target of approximately HKD 3.7 billion, leading to a market capitalization of HKD 35.44 billion at IPO [1][4]. Group 1: IPO Details - TianShu ZhiXin plans to issue 25,431,800 shares at an IPO price of HKD 144.60, targeting a total fundraising of around HKD 3.7 billion [1]. - The company has secured cornerstone investors including ZTE Corporation (Hong Kong), XN Mountain, Wind Sabre, UBS AM Singapore, and others, with total subscriptions amounting to HKD 1.583 billion [1][2]. Group 2: Financial Performance - For the first half of 2025, TianShu ZhiXin reported revenue of RMB 324.26 million, a significant increase from RMB 197.43 million in the same period the previous year [10]. - The company’s revenue for 2022, 2023, and 2024 was RMB 189.37 million, RMB 289.04 million, and RMB 539.51 million respectively, with corresponding gross profits of RMB 112.41 million, RMB 143.15 million, and RMB 265.08 million [8][10]. - The gross margin for 2022, 2023, and 2024 was 59.4%, 49.5%, and 49.1% respectively, indicating a declining trend in profitability [10]. Group 3: Product Offerings - TianShu ZhiXin has developed a comprehensive product system that includes general-purpose GPU products and AI computing solutions, addressing the full spectrum of AI computing needs [4][5]. - The flagship TianYuan series is designed for AI model training, while the ZhiKai series focuses on inference applications, both contributing to a complete AI computing solution [5][6]. Group 4: Market Strategy - The company employs a flexible market strategy, offering customized products and solutions tailored to the diverse needs of different industry clients [7]. - TianShu ZhiXin's delivery model includes product sales of general-purpose GPU acceleration cards and collaborative solution deployments with clients [7]. Group 5: Investment and Valuation History - TianShu ZhiXin has undergone multiple funding rounds, raising over RMB 3.5 billion in its B round, RMB 8.2 billion in its C round, and over RMB 14 billion in its D round, with pre-IPO valuations reaching RMB 10 billion [13][14]. - The company’s valuation has increased significantly over the years, reflecting strong investor confidence in its technology and growth prospects [13].

Group 1 - The establishment of the humanoid robot and embodied intelligence standardization technical committee is a significant measure to implement the decisions of the central government and enhance high-quality standard supply [1][2] - The committee will focus on the formulation and revision of industry standards in areas such as common foundational technologies, key technologies, components, complete systems, applications, and safety for humanoid robots and embodied intelligence [2] - Huolong Securities maintains a "recommended" rating for the humanoid robot industry, noting that domestic companies are actively engaging in financing and expanding production capacity and market opportunities [2] Group 2 - The stock prices of several companies in the robot sector have risen significantly, with Sanhua Intelligent Control up 9.66%, Yujian up 8.79%, UBTECH up 7.95%, Fourth Paradigm up 4.9%, and Horizon Robotics up 3.9% [1][2]

Group 1 - The Hong Kong stock market saw a collective rise in robotics concept stocks, with notable increases including 6.28% for UBTECH, over 5% for Fourth Paradigm and Sanhua Intelligent Control, and nearly 5% for Yuejiang [1][2] - Yushutech announced the opening of its first offline store in collaboration with JD.com, set to launch on December 31 in Beijing, showcasing products like the Yushutech Go2 quadruped robot dog and G1 humanoid robot [1] Group 2 - UBTECH's latest price is 127.000 with a total market capitalization of 639.32 billion and a year-to-date increase of 131.12% [2] - Fourth Paradigm's stock rose by 5.34% to a price of 43.820, with a market cap of 227.5 billion and a year-to-date decline of 13.99% [2] - Sanhua Intelligent Control increased by 5.33% to 35.980, with a market cap of 1514.04 billion and a year-to-date rise of 60.64% [2]

| 代码 | 名称 | | 涨跌幅 √ | 最新价 | 总市值 | 年初至今涨跌 | | --- | --- | --- | --- | --- | --- | --- | | 09880 | 优必选 | (0) | 6.28% | 127.000 | 639.32 Z | 131.12% | | 06682 | 第四范式 | | 5.34% | 43.820 | 227.5 Z | -13.99% | | 02050 | 三花智控 | | 5.33% | 35.980 | 1514.04亿 | 60.64% | | 02432 | 越讀 | | 4.72% | 35.500 | 156.18 Z | 49.79% | | 00981 | 中芯国际 | | 3.09% | 71.700 | 5736.29 Z | 125.47% | | 02382 | 舜宇光学科技 | | 2.44% | 64.950 | 711.08亿 | -4.93% | | 00020 | 商汤-W | | 2.35% | 2.180 | 881.24亿 | 46.31% | | 02252 | 微创机器人-B | | 2.10% | ...