Group 1 - China's large language models are rapidly expanding into the overseas developer market, with the top ten models on OpenRouter using approximately 14 trillion tokens last week [1] - MiniMax M 2.5 leads with 2.57 trillion tokens, followed by Kimi K2.5 with 1.04 trillion tokens, indicating widespread adoption of Chinese AI models by overseas tech companies [1] - Hong Kong-listed companies, Zhipu and MiniMax-WP, have seen cumulative gains exceeding 400% since their listings, establishing themselves as the recognized leaders in AI models [1] Group 2 - Morgan Stanley recently initiated coverage on Zhipu and MiniMax, assigning an "overweight" rating, signaling a strategic recognition of Chinese AI model firms by international capital [1] - The Hong Kong market is acting as a "buffer zone" amid the ongoing US-China tech rivalry, becoming a crucial node for Chinese AI companies to connect with global capital [1] Group 3 - By 2026, the Hong Kong Stock Exchange is witnessing a surge in listings from Chinese AI companies, including GPU firms like Birran Technology and Tensu Zhixin, filling gaps in core computing power [2] - Over 40 AI-related companies are now listed on the Hong Kong Stock Exchange, categorized into four main sectors: AI computing power industry chain, AI software (including large models), AI hardware (covering mobile phones, cars, robots, etc.), and large internet enterprises [2] - Driven by policy support and market demand, related concept stocks are entering a new growth cycle [2]
港股AI热潮：MiniMax、智谱领跑海外Token应用 投资新周期开启