E Fund CSI HK Equities Information Technology Integration ETF (159196) Sees Fund Shares Increase by Nearly 100 Million Units Over Past 3 Months; Institutions Point Out Global Market Share of Domestic Models May Further Increase

Data shows that in terms of scale, the fund size ofE Fund CSI HK Equities Information Technology Integration ETF grew by RMB 156 million over the past three months, achieving significant growth. In terms of fund shares, its total shares increased by 98.0000 million units over the past three months, also representing significant growth.

In terms of news coverage, according to estimates based on the latest data from OpenRouter, the total global invocation volume of large AI models reached 54.6 trillion Tokens last week (July 6 to 12), representing a quarter-on-quarter increase of 12.6%. Among the listed large AI models, the weekly invocation volume of Chinese large AI models reached 27.58 trillion Tokens, growing 17.61% quarter-on-quarter and marking the seventh consecutive week of growth. The weekly invocation volume of Chinese large models has exceeded that of the United States for eleven consecutive weeks, firmly securing the top spot globally.

In addition, the 2026 World Artificial Intelligence Conference will be held in Shanghai from July 17 to 20, where more than 300 products are expected to make their global debuts.

Cathay Haitong pointed out that an AI Agent is an intelligent system endowed with five core capabilities: autonomous perception, memory, decision-making, interaction, and execution. Its essential difference from traditional question-and-answer Chat products lies in its "hands-on capability," which specifically manifests in three major characteristics: permanent memory, local operation, and proactive push. The industry's development has evolved through three stages: from the democratization and popularization of AI in the Chat era, to the productization of execution capabilities in the traditional Agent era, and now to the current Agent 2.0 stage, where Agents bridge the connection between social data and local databases to better meet user needs. Currently, as general-purpose products and vertical applications explode, a reusable Skill ecosystem has become the core pillar for capability expansion.

Kaiyuan Securities stated that domestic models continue to make breakthroughs in technical performance, practicality, and cost-effectiveness. This is expected to sustain the positive cycle of "large financing + model performance leaps + high growth in Token/ARR + surging valuations" among model developers, and further increase the global market share of domestic models. It is recommended to remain firmly positioned in the direction of domestic large models.

Hong Kong-listed Large Model Concept Stocks:

MININGLAMP-W (02718.HK)

As an LLM concept stock, the company fully underpins its Agentic AI positioning with its self-developed edge models—Mano, Cito, and Mano-P—alongside the Cider inference framework. Its business architecture utilizes the DeepMiner LLM as the underlying engine and Octo as the collaborative hub, uniformly delivering various AI products and industry solutions in the form of Agentic Services. Mininglamp pursues a differentiated technological route, bypassing the parameter expansion of general models in favor of a "Scaling Out" approach that coordinates multiple specialized small models. Its core moats do not rely on parameter scale, but rather on granular scenario data, specialized models, and continuous learning. This enables it to achieve a level of precision in vertical scenarios that general models cannot match, as it remains committed to building an open-source, privately deployable, and white-box auditable Private AI infrastructure.

BABA-W (09988.HK)

The company has released several new models, including Qwen3.6-Plus, with the Qwen LLM surpassing 1.4 trillion Tokens in daily API calls, setting a new global record for daily calls on third-party platforms. The Qwen consumer-facing application has exceeded 300 million MAU and has been integrated into the smart cabins of multiple automakers. It consistently ranks at the forefront in international benchmark evaluations for coding and agentic capabilities. Its business layout seamlessly matches the trend of scaled procurement of computing power and model APIs by government and enterprise clients.

TENCENT (00700.HK)

The Hunyuan LLM ranks highly in evaluations on third-party platforms such as OpenRouter. The model continues to deepen its integration into national-level social applications, Tencent Meeting, and the cloud-based collaborative office ecosystem. Backed by a massive MAU base and the Tencent Cloud intelligent computing service system, the company is accelerating the delivery/provision of AI solutions to B2B clients in government and finance, continuously expanding enterprise-level application scenarios.

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