Daily Report on Hong Kong-Listed LLM Concept Stocks (June 11, 2026)

NewTimeSpace · 2026/06/11 17:41 · By Jiayi Sun

On June 11, Hong Kong stocks trended lower as the robotics and LLM sectors underwent a broad correction, with Alibaba sliding 5.4% amid structural adjustments at DingTalk. Bucking the trend, MININGLAMP-W surged nearly 20% as its Southbound Stock Connect inclusion and Agentic AI positioning continued to attract capital inflows. In key industry dynamics, OpenAI partnered with Oracle to lower enterprise barriers via existing cloud commitments ahead of its IPO; ZHIPU AI and Tsinghua open-sourced the SCAIL-2 character animation model; and tech giants Alibaba, Tencent, and Baidu launched specialized Gaokao planning AI Agents to capture the massive traffic window of 12.9 million candidates.

I. Industry Observations

On June 11, 2026, the Hong Kong stock market fluctuated lower. The Hang Seng Index (HSI) closed down 0.65% at 24,249.29 points, the Hang Seng TECH Index fell 1.46% to 4,655.74 points, and the Hang Seng China Enterprises Index (HSCEI) dropped 1.22% to 8,217.08 points. Total daily turnover stood at HKD 288.574 billion, with Southbound trading recording a net inflow of HKD 2.754 billion.

The AI and hard tech sectors experienced a notable pullback. Robotics concept stocks generally trended lower, with Woan Robotics dropping 13.5%, 51World sliding 11.1%, and UBTECH shedding 6.85%, as growth tech equities that logged substantial gains in previous sessions succumbed to profit-taking. LLM concept stocks remained under pressure; Alibaba fell 5.4% amid management restructuring at its DingTalk division, while Baidu and MiniMax both declined by over 3%. Conversely, ZHIPU AI bucked the market trend to close up 1%. MININGLAMP-W (02718.HK) skyrocketed 19.9%, with its intraday surge briefly eclipsing 80% during the session. Recognized as the "First Agentic AI Stock in Hong Kong," Mininglamp Technology has continued to capture intense market attention since its inclusion in the Southbound Stock Connect in early June.

II. Market Performance of LLM Concept Stocks

Stock Code	Stock Name	Latest Price (HKD)	Change (%)
02718.HK	MININGLAMP-W	202.2	19.93%
02513.HK	KNOWLEDGE ATLAS	1,061.00	1.24%
01024.HK	KUAISHOU-W	45.64	-0.83%
03690.HK	MEITUAN-W	78.1	-1.14%
00700.HK	TENCENT	457.2	-1.80%
00020.HK	SENSETIME-W	1.45	-2.03%
03317.HK	XUNCE	153.8	-2.23%
09888.HK	BIDU-SW	113.1	-3.08%
00100.HK	MINIMAX-W	435	-3.72%
09988.HK	BABA-W	107.4	-5.37%

Data Source: HKEX. For reference only, not investment advice. Data as of market close onJune 11, 2026. KNOWLEDGE ATLAS

III. Industry and Corporate Dynamics

1. OpenAI Forges Deep Partnership with Oracle, Enabling Enterprise Access to OpenAI Models and Codex via Oracle Cloud Commitments

On June 10, OpenAI officially announced a deep partnership with Oracle, allowing enterprise clients to directly access OpenAI models and the Codex programming agent through their existing Oracle Cloud Commitments. This integration enables Oracle's vast enterprise customer base to invoke OpenAI's GPT-5.5 series models and Codex Agent capabilities within their current cloud contract frameworks, eliminating the need for supplementary agreements and significantly lowering the barrier to entry. This strategic move is widely regarded as a pivotal step for OpenAI to accelerate its B2B commercialization and broaden its enterprise reach ahead of its anticipated IPO.

2. KNOWLEDGE ATLAS (02513.HK): Co-Releases Open-Source Character Animation Model SCAIL-2 with Tsinghua University, Supporting Multi-Character and Long-Video Generation

On June 10, ZHIPU AI and a research team from Tsinghua University jointly released and open-sourced SCAIL-2, a character animation model. Utilizing an end-to-end architecture, the model directly leverages the latent features of driving videos to generate animations, thereby reducing reliance on intermediate representations such as skeleton graphs and preserving richer motion details. Functionally, it supports single/multi-character animation generation, character replacement, long-video generation, and 3D posture control, while also demonstrating zero-shot generalization capabilities such as animal-driven animation. Trained on the MotionPair-60K dataset, the model supports 512p and 704p resolution outputs and provides ComfyUI workflow integration. Open-sourced under the Apache 2.0 license, it is available for both academic research and commercial applications. The associated source code and model weights have been deployed on GitHub, Hugging Face, and ModelScope.

3. Alibaba and Tencent Launch AI Agents for Gaokao Application Planning, Intensifying the Battle for AI Entry Portals

On June 10, Alibaba's LLM application Qianwen introduced the "Qianwen Gaokao Application Planning Expert," touting it as "China's first full-cycle Gaokao application planning Agent." Concurrently, Tencent's Yuanbao and QQ Browser launched "Yuanbao Gaokao Connect" on June 5, positioning it as the "industry's first Gaokao consultant Agent." Baidu has also integrated an "AI Application Report" feature into its browser, utilizing ERNIE 4.5 Turbo and DeepSeek-V4-Pro to analyze and optimize university application choices. According to Ministry of Education data, the number of registered Gaokao examinees nationwide in 2026 stands at 12.9 million. Major tech giants are aggressively leveraging this massive annual traffic window to compete for dominance in AI Agent entry portals.

IV. Introduction to LLM Concept Stocks

Stock Name	Stock Code	Market Position	LLM Products & Business Profile
MININGLAMP-W	02718.HK	LLM concept stock, dubbed the "First Agentic AI Stock in Hong Kong"	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.
KNOWLEDGE ATLAS	02513.HK	A leading player in China's independent LLM sector	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.
TENCENT	00020.HK	An Internet tech giant with a national-scale application ecosystem and the platform provider with the broadest LLM implementation scenarios in China	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.
BABA-W	09988.HK	China's cloud and AI leader	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.

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