记者从上海市数据局获悉，为进一步提升政务治理数智化程度，"上海政务智能实验场、上海政务智能实训场、上海市政务智能应用测评验 证中心"（简称"两场一中心"）1月28日正式在徐汇区"数链空间"启动。 "两场一中心"各有定位、互为支撑，共同构成创新应用的闭环。其中，上海政务智能实验场致力于打造政务智能场景的"孵化器"和"赛马 场"，将以技术迭代与场景验证为核心，为政府部门探索治理新标准、新模式提供安全可控的实验环境，加速催生一批可复制、可推广的标杆应 用。 上海政务智能实训场聚焦干部队伍的数智能力提升，将依托市级统一数智底座及实训智能体平台，通过沉浸式、互动式的实训环境，针对性 提升干部队伍对智能化技术的理解与应用能力。 上海市政务智能应用测评验证中心将打造政务智能化应用专业检测平台，聚焦政务智能应用全生命周期的安全可控，构建覆盖"事前评估、 事中验证、事后评价"的全链条评测体系，确保智能化技术在政务领域的应用始终行稳致远。 当天还举行了生态伙伴入驻签约仪式。商汤科技、沐曦股份、阶跃星辰、壁仞科技等10家科技企业分批完成电子签约，正式入驻"两场"。 （记者胡洁菲、赵逸赫） 生态伙伴入驻签约"两场"。新华社记者胡洁菲 ...

Core Viewpoint - The company, Bilan Technology (06082), has exercised its overallotment option for a total of 42.7268 million H-shares, representing approximately 15% of the total shares available for subscription under the global offering [1] Group 1: Overallotment Details - The overallotment shares will be issued at a price of HKD 19.60 per H-share, which is the same as the global offering price excluding various fees [1] - The overallotment shares are intended to expedite the delivery of H-shares to subscribers who agreed to purchase them under the global offering [1] Group 2: Stabilization Period - The stabilization period for the global offering ended on January 28, 2026, which is 30 days after the deadline for submitting applications for the Hong Kong public offering [1] - During the stabilization period, the stabilization agent, China International Capital Corporation Hong Kong Securities Limited, engaged in stabilization actions, including the overallotment of 42.7268 million H-shares [1]

智通财经APP讯，壁仞科技(06082)发布公告，保荐人兼整体协调人(为其本身及代表国际包销商)已于 2026年1月28日(星期三)悉数行使招股章程所述的超额配股权，涉及合共4272.68万股 H股(超额配发股 份)，占全球发售项下可供认购发售股份总数(于发售量调整权获悉数行使后及任何超额配股权获行使前) 约15%。 (2) 保荐人兼整体协调人(为其本身及代表国际包销商)于2026年1月28日(星期三)按每股H股19.60港元(即 全球发售项下每股H股的发售价，不包括1%经纪佣金、0.0027%证监会交易征费、0.00565%联交所交易 费及0.00015%会财局交易征费)就合共4272.68万股H股悉数行使超额配股权，以加快向同意其根据全球 发售认购的相关H股延迟交付的承配人交付部分H股。 根据香港法例第571W章《证券及期货(稳定价格)规则》第9(2)条，本公司宣布，全球发售的稳定价格期 间于2026年1月28日(星期三)(即递交香港公开发售申请的截止日期后第30日)结束。稳定价格操作人中国 国际金融香港证券有限公司或其联属人士或任何代其行事的人士在稳定价格期间进行的稳定价格行动载 列如下： (1) 在国 ...

格隆汇1月28日丨壁仞科技(06082.HK)公告，公司宣布，保荐人兼整体协调人(为其本身及代表国际包销 商)已于2026年1月28日(星期三)悉数行使招股章程所述的超额配股权，涉及合共42,726,800股H股，占全 球发售项下可供认购发售股份总数(于发售量调整权获悉数行使后及任何超额配股权获行使前)约15%。 超额配发股份将由公司按每股H股19.60港元(即全球发售项下的每股H股发售价，不包括1%经纪佣金、 0.0027%证监会交易徵费、0.00565%联交所交易费及0.00015%会财局交易徵费)发行及配发。超额配发 股份将用于加快向同意其根据全球发售认购的相关H股延迟交付的承配人交付部分H股。 根据香港法例第571W章《证券及期货(稳定价格)规则》第9(2)条，公司宣布，全球发售的稳定价格期间 于2026年1月28日(星期三)(即递交香港公开发售申请的截止日期后第30日)结束。有关稳定价格操作人中 国国际金融香港证券有限公司或其联属人士或任何代其行事的人士在稳定价格期间进行的稳定价格行动 的进一步资料载于本公告内。 ...

除本公告另有界定者外，本公告所用詞彙與上海壁仞科技股份有限公司（「本公司」）所刊發日期 為2025年12月22日的招股章程（「招股章程」）所界定者具有相同涵義。 本公告乃根據香港法例第571W章《證券及期貨（穩定價格）規則》第9(2)條作出。 本公告僅供參考，並不構成對任何人士進行收購、購買或認購本公司任何證券的要約或誘使作 出要約的邀請。本公告並非招股章程。潛在投資者在決定是否投資於發售股份前，應細閱招股 章程內有關下文所述本公司及全球發售的詳細資料。有關發售股份的任何投資決定應僅依賴招 股章程所提供的資料而作出。 本公告不會直接或間接於或向美國（包括美國的領土及屬地、美國任何州以及哥倫比亞特區）發 佈、刊發、派發。本公告並不構成或組成在美國或任何其他司法管轄區購買或認購證券的任何 要約或招攬的一部分。發售股份並無亦不會根據1933年美國證券法（經不時修訂）（「美國證券 法」）登記。發售股份不得在美國境內提呈發售、出售、質押或轉讓，惟獲豁免遵守美國證券法 登記規定或不受該等規定所規限的交易則除外。發售股份將不會於美國公開發售。發售股份僅 根據美國證券法S規例以離岸交易方式在美國境外提呈發售及出售。 Shan ...

Core Viewpoint - Despite challenges in its relationship with China, Nvidia's founder Jensen Huang continues to visit China annually, indicating the importance of the Chinese market to the company [2][5][19]. Group 1: Jensen Huang's Visits - Jensen Huang's recent visit to China marks his third consecutive year of New Year visits, which typically include meetings with local employees and participation in company events [2][4]. - Huang's visits are characterized by a mix of self-arranged activities and official invitations, with a focus on engaging with employees and local culture [2][4]. - The visits serve to strengthen relationships with Chinese government officials and local tech leaders, reflecting Nvidia's strategic interest in the Chinese market [5][20][21]. Group 2: Nvidia's Market Position in China - Nvidia's sales in China are projected to exceed $17 billion by 2025, accounting for approximately 13% of its global revenue, making it a crucial overseas market [8]. - The Chinese market is significant for Nvidia due to its high-quality customer base and robust industrial ecosystem, particularly in sectors like AI and automotive [9][10]. - Major Chinese tech companies such as Tencent, ByteDance, and Baidu are key customers for Nvidia, highlighting the company's reliance on the Chinese market for growth [10]. Group 3: Regulatory and Competitive Landscape - Nvidia faces regulatory scrutiny from both the U.S. and Chinese governments, with recent discussions around the security risks of its H20 chip impacting its operations [3][5]. - Despite these challenges, there are indications of a shift in the attitude of Chinese regulatory bodies and tech companies towards Nvidia, as they seek a balance between purchasing Nvidia chips and developing domestic alternatives [6][11]. - Huang's emphasis on the importance of the Chinese market is underscored by the company's ongoing efforts to adapt its product offerings to meet local regulatory requirements [23]. Group 4: Talent and Innovation - Nvidia's Chinese operations employ over 4,000 staff across key cities, focusing on advanced fields such as AI algorithms and autonomous driving [18]. - The company has faced talent challenges, with former employees joining competitors, which has prompted Huang to reinforce the importance of maintaining morale and loyalty within the Chinese team [15][17][19]. - Huang's recognition of China's innovation capabilities and his positive remarks about local companies reflect Nvidia's strategy to align closely with the Chinese tech ecosystem [23].

2026年的1月份，国内的AI界发生了几件大事： 1月2日，GPU公司壁仞科技登陆港交所，成为港股国产GPU第一股，并且成为港交所《上市规则》第18C章（特专科技）启用以来，募资规模最大的IPO 项目； 1月9日，MiniMax（上海稀宇科技）登陆港交所，不仅创下了全球AI公司从创立到上市的最短时间记录，而且打破了快手上市创下的科技公司超购记录， 而且还是全球第一家市值突破千亿的原生AI公司。MiniMax上市，被称为是中国大模型企业在全球舞台上的"定价"时刻； 1月14日，中国汽车工业协会发布的《2025城市NOA汽车辅助驾驶研究报告》。报告显示，Momenta城市NOA搭载量41.44万辆，占第三方供应商比例约 61.06%，处于断崖式领先，其产品不但覆盖国内主流乘用车企业，且与全球排名前10大车企中的8家开展合作。 壁仞科技，MiniMax，Momenta的共同点，是这三家AI翘楚公司的创始人,均出自商汤科技。 然而，商汤前员工风光无限的同时，被称为AI时代黄埔军校的商汤，自己却被边缘化了。 成立于2014年的商汤，曾经是以图像识别为特征的AI 1.0时代的"四小龙"之首，2021年上市前共完成12轮融 ...

Core Viewpoint - Baidu's Kunlun Chip has submitted an application for a Hong Kong IPO, while Alibaba is considering a spin-off IPO for Pingtouge [2][47]. Group 1: Company Overview - Shanghai Suiruan Technology Co., Ltd. (Suiruan Technology) has had its IPO application accepted on the Sci-Tech Innovation Board, aiming to raise 6 billion yuan [3][48]. - Suiruan Technology is the last of the "four domestic GPU leaders" to pursue an IPO, following the listings of Moer Thread, Muxi Co., and Biran Technology [3][48]. - The company focuses on cloud AI training and inference, with primary revenue derived from AI accelerator cards and modules, but faces challenges such as heavy R&D spending, ongoing losses, and reliance on a single major customer [3][48]. Group 2: Financial Performance - Over the past four years, Suiruan Technology has accumulated losses exceeding 5.1 billion yuan, with R&D expenditures consistently surpassing 160% of revenue [4][14]. - Revenue figures for Suiruan Technology from 2022 to the first three quarters of 2025 are 0.90 billion yuan, 3.01 billion yuan, 7.22 billion yuan, and 5.40 billion yuan, respectively, with net profits of -1.12 billion yuan, -1.67 billion yuan, -1.51 billion yuan, and -0.89 billion yuan [14][60]. - The company’s R&D investment totaled 4.42 billion yuan, accounting for nearly 270% of cumulative revenue of approximately 1.65 billion yuan [15][61]. Group 3: Market Position and Competition - The AI chip market is currently dominated by Nvidia, which holds a 70% market share, while Huawei's Ascend leads among domestic manufacturers with 64,000 units shipped [24][30]. - Domestic AI chip manufacturers are divided into two camps: the "revolutionary faction," which includes Suiruan Technology, and the "compatible faction," which aims to reduce customer migration costs by aligning with Nvidia's CUDA ecosystem [29][49]. - Suiruan Technology's main products include cloud AI chips, AI accelerator cards, and intelligent computing systems, which are designed to provide robust AI computing power [6][51]. Group 4: Customer Dependency - Suiruan Technology's revenue has significantly increased due to its relationship with Tencent, which has become its primary customer, accounting for 71.84% of revenue by the third quarter of 2025 [18][67]. - The company has seen its inventory grow year-on-year, with figures of 3.11 billion yuan, 2.61 billion yuan, 9.79 billion yuan, and 11.48 billion yuan at the end of each reporting period [22][68]. Group 5: Future Outlook - The company anticipates reaching a breakeven point by 2026, contingent on sales volume and product delivery progress [17][63]. - The ongoing IPO wave in the semiconductor industry includes 30 companies entering the A-share IPO process in 2025, with a total fundraising target of nearly 100 billion yuan [40][41].

Group 1 - The core point of the article is that Youzu Interactive (游族网络) has formed a strategic partnership with domestic GPU manufacturer Sunrise (曦望) to explore the integration of domestic AI computing power into game development processes, aiming to create a self-controlled, practical "game AI computing power solution" for the industry [1] - Sunrise is a domestic AI computing chip company that has evolved from the chip department of SenseTime, focusing on high-performance GPUs and multimodal inference chips, with a significant investment of 2 billion in R&D over eight years [1] - Youzu Interactive has invested in Sunrise, holding approximately 0.21% of the company, indicating its commitment to AI and gaming technology [2] Group 2 - Youzu Interactive, established in 2009 and listed in 2014, has been focusing on a "global card + " strategy, with products like the "Youth Three Kingdoms" series, and has expanded its business across multiple countries and regions [2] - The company has shown a clear intention to transform its operations, recently partnering with Century Internet, a Nasdaq-listed company, to leverage their strengths in AI applications and computing infrastructure for a green computing project in Inner Mongolia [2]

Core Viewpoint - The article discusses the increasing participation of bank wealth management subsidiaries in Hong Kong IPOs, highlighting their role as significant players in the market as it enters a new phase of intensive IPO activity from late 2025 to early 2026 [2][3]. Group 1: Bank Wealth Management Subsidiaries' Participation - Bank wealth management subsidiaries, such as ICBC Wealth Management and China Post Wealth Management, have been actively investing in Hong Kong IPOs, with ICBC participating in over 25 IPOs since 2025, achieving a weighted return of over 50% [3]. - China Post Wealth Management has invested 1.8 billion yuan in Hong Kong IPOs and participated in 150 private placements, focusing on new productivity sectors [4]. - Other subsidiaries like China Merchants Bank Wealth Management have also engaged in IPOs, successfully acquiring shares in companies like Innovation Industry [4]. Group 2: Investment Strategies and Product Offerings - Wealth management firms are embedding Hong Kong IPO investments into their product offerings, allowing individual investors to access these opportunities, with some products starting from as low as 1 yuan [5][6]. - ICBC Wealth Management has developed a "fixed income + Hong Kong IPO" strategy, combining deposits and high-grade bonds with selected IPO investments to enhance returns [5]. - China Post Wealth Management has introduced products that flexibly allocate between Hong Kong IPOs and domestic ETFs, aiming to capture the benefits of leading companies going public [6]. Group 3: Market Dynamics and Challenges - The influx of wealth management funds into Hong Kong IPOs is driven by a scarcity of quality fixed-income assets domestically, the strategic positioning in technology and biomedicine sectors, and the need for innovative product offerings [7]. - Experts predict that a significant amount of medium- to long-term deposits will mature in 2026, potentially impacting financial markets and asset allocation [7]. - Despite the opportunities, wealth management firms face challenges such as insufficient cross-border research capabilities, liquidity management issues, and the need for better investor education regarding the risks associated with IPO investments [9].