Zhipu Releases GLM-5.1 High-Speed Version; Hwabao CSI HK Equities Information Technology Integration ETF (159131) Rises 4.02% in Morning Trading

NewTimeSpace News: As of 11:30 AM on May 22, 2026, Hwabao CSI HK Equities Information Technology Integration ETF(159131) surged by 4.02%, reaching a latest price of RMB 0.98. Looking at a broader timeframe, the ETF recorded a cumulative gain of 7.74% over the past month as of May 21, 2026.

As of May 21, the Stock Connect IT ETF Huabao maintained an average daily trading volume of RMB 886 million over the past week, ranking first among comparable funds. Regarding capital flows, the ETF has attracted a total of RMB 79.8847 million in net inflows over the last 10 trading days.

On the news front, Zhipu announced that it is providing the "GLM-5.1-highspeed" API to selected enterprise clients. The model reaches an output speed of 400 tokens/s, setting a new industry record for API response speeds among global large model vendors. The GLM-5.1 High-Speed version is specifically designed for scenarios with extremely high requirements for low latency, such as AI programming, real-time interaction, commercial decision-making, and real-time voice applications. It is currently available to selected enterprise clients on the Zhipu MaaS (Model-as-a-Service) platform.

Catalyzed by this industry news, shares of Zhipu (02513.HK), a concept stock related to large models, soared over 20% in morning trading, hitting a new all-time high since its listing. Other companies, including MINIMAX-W (00100.HK), Mininglamp Technology-W (02718.HK), and Kuaishou-W, also followed the upward trend.

Wanlian Securities suggests focusing on the upgrades in vertical capabilities and the accelerating commercialization process of AI large models in China. MiniMax has launched the "10xTeam" partnership program, reflecting a strategic shift among leading model vendors to cultivate key industry sectors more deeply. By collaborating with industry experts to accumulate high-quality datasets and industry insights, these companies can enhance vertical model capabilities, ultimately promoting further growth in the "token economy." The firm recommends closely monitoring the development and utilization of high-quality datasets in key industries and scenarios, as well as breakthroughs in iterative model capabilities.

Hong Kong-listed Large Model Concept Stocks:

KNOWLEDGE ATLAS (02513.HK)

Knowledge Atlas Technology Joint Stock Company Limited (02513.HK; commercially known as Zhipu AI) is a leading player in China's independent large language model (LLM) sector (recognized for its capabilities and market position by Frost & Sullivan). The company has released its next-generation flagship model, GLM-5, achieving open-source State-of-the-Art (SOTA) performance in coding and agentic capabilities. It has also open-sourced the multimodal image generation model GLM-Image in collaboration with Huawei. Focusing on novel model architecture design, generalized reinforcement learning paradigms, and autonomous model evolution, its business layout closely aligns with the trend of enterprise-level AI productivity transformation.

MINIMAX-W (00100.HK)

A top-tier player dedicated to omni-modal Artificial General Intelligence (AGI). The company continuously iterates its video generation model matrix and has partnered with mainstream domestic and overseas chip manufacturers and inference platforms to complete underlying adaptations. The total monthly active users (MAU) of its B2C and B2B LLM applications, along with multimodal API call volumes, maintain rapid growth, further broadening its computing power ecological layout.

MININGLAMP-W (02718.HK)

As an LLM concept stock, Mininglamp Technology is recognized by the market as the "First Agentic AI Stock in Hong Kong." Its self-developed model cluster includes the DeepMiner LLM product line (underlying engine), models such as Mano/Cito, and the Cider inference acceleration framework. These are all interconnected by the Octo platform layer to serve as a human-Agent collaboration hub, ultimately delivered in the form of Agentic Services to empower the implementation of decision-making agents in industries like marketing and mass consumption. The company bypasses the "Scaling Up" route of monolithic LLMs, opting instead for a "Scaling Out" approach through the collaboration of multiple specialized small models, achieving precision that surpasses general models in vertical scenarios. Its core moats lie in granular scenario data, specialized models, and continuous learning, culminating in an open-source, privately deployable, and white-box auditable Private AI infrastructure.

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