Market Performance - On June 9, the Hong Kong stock market opened higher, with the Hang Seng Index rising over 1% and the Hang Seng Tech Index increasing by 2.33% [1] - The Hang Seng Tech ETF (513580) saw an intraday increase of 2.82%, with notable gains in stocks such as Kingdee International (up over 6%), Tencent Music, Meituan, and JD.com [1] - The Hang Seng Internet ETF (159688) surged by 3.77% [1] Upcoming Events - Citic Securities highlighted that ByteDance will hold the Volcano Engine Force Conference on June 11 in Beijing, featuring comprehensive upgrades to the Doubao model family and multiple sub-forums covering AI technology innovations and industry applications [1] - The main forum on June 11 will include product launches and discussions on AI Coding and AI Agent, with industry-specific forums focusing on AI applications in finance, automotive, ecology, and healthcare [1] - June 12 will be dedicated to developer exchange, with participation from various corporate partners across sectors like chips, automotive, smart terminals, and software applications [1] Industry Trends - Citic Securities noted a recent surge in multimodal dynamic updates, including Google's launch of the Veo 3 video generation model and Doubao's introduction of video call functionality [2] - Kuaishou announced that its AI ARR is expected to exceed $100 million by March 2025, with monthly payments surpassing 100 million RMB in April and May [2] - Tianfeng Securities suggested that investment strategies should focus on three areas: breakthroughs in Deepseek and open-source AI, valuation recovery in consumer stocks, and the continued rise of undervalued dividends [2]

Core Insights - Citic Construction Investment (中信建投) highlights the recent surge in multimodal dynamic updates in the AI sector, indicating a significant trend towards enhanced video generation and communication technologies [1] Group 1: Company Developments - On May 21, Google officially launched the Veo3 video generation model at the 2025 I/O conference, achieving AI video and audio synchronization [1] - On May 23, Doubao introduced a video call feature that supports real-time video communication and screen sharing [1] - Kuaishou announced that its AI ARR is expected to exceed 100 million USD by March 2025, with monthly payment amounts surpassing 100 million RMB in April and May [1] Group 2: Industry Trends - The upcoming Apple WWDC 2025 on June 10 and ByteDance's Force 2025 conference on June 11 are anticipated to accelerate the deployment of multimodal models and edge AI products [1]