China Merchants CSI HK Equities Information Technology Integration ETF (526050) Rises 0.99% as Domestic Large Model Tencent Hunyuan Hy3 is Released

NewTimeSpace (newtimespace.com) News, On July 7, 2026, tech indices performed actively. As of 10:15, the CSI Hong Kong Stock Connect Information Technology Combined Index (930967) rose 0.65%, and China Merchants CSI HK Equities Information Technology Integration ETF (526050) increased by 0.99%, with the latest price standing at RMB 1.12.

Among the constituent stocks, AI-related themes performed actively. Paradigm Smart led the gains with an increase of 13.00%, while stocks such as Zhipu and Hua Hong Grace followed suit.

Data shows that China Merchants CSI HK Equities Information Technology Integration ETF was established on April 22, 2026. Looking at a longer timeframe, as of July 6, 2026, the fund has achieved a cumulative gain of 11.00% since its inception.

In terms of news coverage, the release rhythm of large models remains tight. On July 6, Tencent Hunyuan Hy3 was officially released. Utilizing a Mixture-of-Experts (MoE) architecture, the model features a total of 295B parameters with 21B active parameters, supports a context length of 256K, and functions as a fast-and-slow thinking integration model. Official sources stated that by scaling up training computing power and enhancing data quality, Hy3 has achieved another leap across various tasks compared to the Hy3 preview released in April, matching the performance of domestic and international large-scale flagship models despite its smaller size.

CMB International stated that the release of Zhipu GLM 5.2 has helped Chinese large model developers maintain their dominant position in the open-source model domain. The upper bound of model capabilities remains the key factor determining pricing power. Industry players will continue to focus on enhancing intelligent capabilities to sustain long-term monetization growth, while driving cost optimization through full-stack capability tuning. On the application and monetization scenarios side, competition in programming scenarios is expected to intensify, though leading vendors may still have the capability to maintain their market leadership and market share. On the Agent side, fully autonomous agent systems are expected to be the direction for industry exploration.

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.

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.

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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