导语：5家投资人账面回报超十亿。 2026 年第一股、"港股 GPU 第一股"壁仞科技首战港股告捷：上市当日，公司以每股 19.6 港元顶格定价开盘，股价高开高走，盘中涨幅一度超 过 110% ，最高触及 42.88 港元，市值短暂突破千亿港元；截至 1 月 2 日收盘，股价报 34.46 港元，较发行价上涨 75.82% ，对应市值约 826 亿港元，折合人民币约 730 亿元。 这一表现，若与此前登陆 A 股的国产 GPU 企业相比，并非最激进。 2025 年底，摩尔线程、沐曦股份先后在科创板上市，首日涨幅分别达到 425.46% 和 692.95% ，收盘市值分别约为 2823 亿元和 3320 亿元，上市当日均刷新了市场对国产算力资产的估值认知。 相比之下，壁仞科技在港股的首日涨幅明显收敛，但在港股科技资产整体稀缺的背景下，其表现依然被视为"现象级"。更值得期待的是，壁仞科技 并未将港股作为终点，未来的某个时刻还计划在 A 股上市，仍然值得投资人士持续关注。 如果把壁仞科技的上市视作一场资本层面的集中验收，那么最先被市场检验的，便是其背后长达六年的融资与持股结构。 招股资料显示，自 2019 年成立以 ...

Summary of Conference Call Notes Industry or Company Involved - The conference call discusses advancements in the AI and robotics sectors, focusing on various companies and their innovations in AI models, robotics, and GPU technology. Core Points and Arguments 1. **AI Model Development**: A company has developed a trillion-parameter MOE language model, aiming to establish AGI capabilities. The step1 model, with 100 billion parameters, excels in image processing, mathematical abilities, logical reasoning, and text creation, ranking highly in industry evaluations [1] 2. **AI Tone Services**: A newly established company in Shanghai focuses on providing AI tone services for large models, backed by state-owned enterprises and local government support. This service involves creating high-quality training data for AI models [2][3] 3. **Robotics Innovations**: A company has launched three series of robots, including the "Yuanqi" series, with over 1,000 units produced. These robots are designed for various applications, showcasing advanced capabilities [4][5] 4. **Intelligent Robotics**: The introduction of the "Lingxi XR" humanoid robot, which features 28 degrees of freedom, allows for complex movements and interactions, enhancing its adaptability in various environments [6][7] 5. **Cloud Robotics**: A company has proposed a cloud robotics architecture that integrates cloud computing with robotics, enabling self-learning and continuous evolution of robots [8] 6. **Industrial Robotics**: Feixi Technology focuses on industrial robotic solutions, leveraging advanced sensors for applications in manufacturing, healthcare, and agriculture [9][10] 7. **GPU Technology**: A company named Muxi has developed high-performance GPUs, achieving significant breakthroughs in computing power, including the BR100 GPU, which set a global record for computing capabilities [11][12] 8. **AI Model Deployment**: Companies are rapidly deploying AI models, such as the TM106 series, which supports advanced inference capabilities, competing with leading models in the market [13] 9. **Computing Solutions**: A company offers standardized AI computing solutions, enabling quick deployment for clients and reducing operational costs [14] 10. **Market Positioning**: The conference highlights the competitive landscape of nine leading companies in AI, robotics, and GPU sectors, emphasizing their potential to challenge international giants and drive technological advancements in China [15][16] Other Important but Possibly Overlooked Content - The establishment of a "super factory" for high-quality training data is underway, aiming to significantly increase the capacity of the tone library by 2025 [3] - The conference underscores the importance of investing in technology assets to support emerging companies that are breaking international monopolies in their respective fields [16]