Large Model Concept Stocks Watch | Zhipu (2513.HK) Rises Over 8% in Morning Trading; AI Investment and Demand Expected to Maintain High Prosperity

NewTimeSpace (newtimespace.com) News: On June 25, 2026, despite the weakening of the Hang Seng Tech Index, Hong Kong's artificial intelligence-themed stocks bucked the trend to strengthen. Zhipu (2513.HK) led the gains; as of 9:50 AM, the company's share price was quoted at HK$2,352.000, up 8.19%.

On the news front, at the opening ceremony of MWC Shanghai 2026 on June 24, the Cyberspace Administration of China (CAC) stated that China has become the world's largest internet market and has formed a complete industrial system in the artificial intelligence sector ranging from foundational infrastructure and model frameworks to industry applications. As of now, over 900 large models have been launched for public service, with application scenarios covering numerous fields such as industry, agriculture, education, scientific research, culture, and tourism. China is currently researching and formulating regulatory frameworks and systems, including the management of AI-generated and synthesized content identification, human-like interactive service management, digital virtual human information service management, as well as the standardized application and innovative development of AI Agents.

TF Securities stated that the technology and growth style remains a powerful main line in the market. Following the better-than-expected release of Zhipu's new GLM-5.2 version and a week of practical verification, the market has gradually accepted and adopted GLM-5.2. In coding and long-context tasks, GLM-5.2 achieves capabilities close to Opus 4.8 and GPT 5.5. On the demand side, the usage of GLM-5.2 is expected to continue rising. It is recommended to maintain close attention to the progress of domestic large models.

China Galaxy Securities pointed out that looking ahead to the second half of the year, China's economy may continue to exhibit a trend of "intensified structural divergence with resilient growth remaining." During this critical period of transitioning China's old economic drivers to new ones, the robust growth and export resilience of the new economy—represented by AI, high-end manufacturing, and new energy—serve as the primary pillars supporting the achievement of the full-year economic targets. The comprehensive implementation of the "Artificial Intelligence+" initiative will be the policy focus for the second half of the year. Investment and demand in AI infrastructure and the application end are expected to maintain high prosperity. Following the global AI investment cycle, the export competitiveness of AI-related hardware remains powerful, and export resilience is anticipated to remain strong in the second half of the year.

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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