Hong Kong AI Concept Stock Daily (July 24, 2026)

NewTimeSpace · 2026/07/24 21:25 · By Zeyu Wu

On July 24, 2026, Hong Kong stocks closed lower led by Big Tech, while AI chipmakers and LLM developers bucked the trend, with MONTAGETECH surging 6.7% and Z.AI up 5.64%. Beijing unveiled policies supporting the Token Economy and inference chips, as Dongguan launched a RMB 100-billion computing power plan. Meanwhile, Agibot initiated its HK IPO, and Tesla's sharp drop weighed on autonomous driving sentiment.

I. Market Overview

On July 24, 2026, Hong Kong stocks closed lower. The Hang Seng Index fell 0.98% to 24,963.23 points, the Hang Seng TECH Index lost 1.47%, and the Hang Seng China Enterprises Index slipped 0.98%. Total daily turnover reached HKD 209.877 billion, while Southbound capital recorded a net outflow of HKD 1.518 billion.

Big Tech and internet majors declined across the board. BABA-SW tumbled 4.3% following news that the EU imposed a €550 million fine on AliExpress. TENCENT fell 2.4%, XIAOMI-W dropped 1.6%, and MEITUAN-W lost 0.7%.

TheLLMsector showed mixed performance. Z.AI surged 5.64% against market headwinds, backed by robust trading turnover reaching HKD 7.146 billion as the company continued to solidify its core model architectures. Conversely, SenseTime-W fell 5.0%.

AI Chip stocks held relatively firm. MONTAGETECH jumped 6.7% after announcing a proposed A-share buyback plan ranging from RMB 300 million to RMB 600 million, stimulating short-term interest across semiconductor equities. GIGADEVICE gained 1.5%, SMIC rose 0.9%, and HUA HONG GRACE added 0.3%.

Autonomous Driving and Embodied AI sectors retreated. HORIZONROBOT-W declined 3.3%, and XPeng-W fell 3.6%. Bucking the trend, Leapmotor rose 4.9% after its founder noted the company's significant undervaluation and highlighted overseas expansion as a secondary growth curve. Geely Automobile rose 2.9% following plans to acquire a 34% stake in Ford's Spanish plant for €221 million to accelerate European localized manufacturing.

II. Market Performance of Representative AI Stocks

Stock Code	Company Name	Closing Price (HKD)	Change	Sector / Concept
06809.HK	MONTAGETECH	332.6	6.67%	AI Chips
02513.HK	Z.AI	1237	5.64%	LLM
09903.HK	ILUVATAR COREX	563	3.49%	AI Chips
03986.HK	GIGADEVICE	568	1.52%	AI Chips
00981.HK	SMIC	71.35	0.85%	AI Chips
01347.HK	HUA HONG GRACE	149.8	0.27%	AI Chips
03690.HK	MEITUAN-W	86.7	-0.69%	LLM
02026.HK	PONY-W	56.1	-1.23%	Autonomous Driving
01810.HK	XIAOMI-W	26.72	-1.55%	Embodied AI
00100.HK	MINIMAX-W	196	-1.66%	LLM
06082.HK	BIRENTECH	36.66	-1.77%	AI Chips
01024.HK	KUAISHOU-W	42.1	-2.27%	LLM
09888.HK	BIDU-SW	104.3	-2.34%	LLM
00700.HK	TENCENT	434.6	-2.38%	LLM
02498.HK	ROBOSENSE	22.06	-2.65%	Autonomous Driving
09660.HK	HORIZONROBOT-W	4.42	-3.28%	Autonomous Driving
00800.HK	WERIDE-W	14.82	-3.77%	Autonomous Driving
02533.HK	BLACK SESAME	11	-4.10%	Autonomous Driving
09880.HK	UBTECH ROBOTICS	78.65	-4.26%	Embodied AI
09988.HK	BABA-SW	110	-4.26%	LLM

Data Source: HKEX. For reference only, not investment advice. Data as of market close onJuly 24, 2026.

III. AI Industry & Corporate Developments

1. Beijing Issues Dedicated AI Agent Policy Encouraging Token Economy and Purpose-Built Inference Chips

On July 23, the Beijing Municipal Government issued Several Measures on Accelerating the Development Led by AI Agents, explicitly encouraging the development of the Token Economy, supporting the R&D of low-latency, high-throughput dedicated inference chips, and scaling up subsidies such as computing power vouchers. This marks another major local AI support policy following the multi-ministry national computing power domestic procurement initiative.

2. "Dongguan Computing Power Island" Unveiled with RMB 100 Billion 5-Year Investment Plan

On July 24, the "Dongguan Computing Power Island" was officially announced. According to municipal planning, Dongguan plans to invest RMB 100 billion over the next five years to construct the computing power industrial zone, aiming to turn it into the core growth engine for the city's RMB 500-billion AI server cluster by 2030. Escalating local infrastructure capital expenditures continue to reinforce growth expectations across the computing value chain.

3. Agibot Initiates Hong Kong IPO; World's Largest General-Purpose AI Robotics Company Prepares for Listing

On July 24, Agibot (Shanghai) Technology Co., Ltd., a general-purpose AI robotics firm, officially initiated its Hong Kong IPO process. The company's product portfolio spans wheeled, semi-humanoid, full humanoid, and quadruped robots. At WAIC 2026, Agibot unveiled five new robotics products, including the Expedition A3 Ultra, Genius G2 Max, and Lingxi X2 EDU. According to Omdia, Agibot shipped over 5,100 general-purpose humanoid robots in 2025, ranking 1st globally with approximately 39% market share. By revenue in 2025 and Q1 2026, the firm stands as the world's largest general-purpose AI robotics entity.

4. AMD Unveils AI/HPC Chip Roadmap: Annual GPU Cadence

On July 24 at the Advancing AI 2026 conference, AMD revealed its AI/HPC chip roadmap, following an execution cadence of a 2-year cycle for CPUs and a 1-year cycle for GPUs. This comes shortly after AMD announced a strategic partnership with Anthropic involving up to 2 GW of MI450 GPU deployments and up to $5 billion in equity investments. Execution of this roadmap further intensifies expectations around the global AI compute arms race.

5. Tesla Plunges Over 14%, Marking Its Largest Single-Day Drop in Over a Year

On July 23 (US Eastern Time), Tesla shares plummeted by more than 14%, marking its largest single-day drop in over a year and bringing year-to-date losses to nearly 30%. Wall Street firms, including Morgan Stanley, lowered price targets following Q2 core financial metrics that missed market consensus. As a global bellwether for smart driving, Tesla's sharp decline may weigh on sentiment across Hong Kong autonomous driving equities in the short term, even as domestic commercialization accelerates.

IV. Profiles of Representative AI Concept Stocks

Company Name	Stock Code	Industry Position	Main Product Lines & Business Overview
MONTAGETECH	06809.HK	Global memory interconnect chip leader & core supplier for AI computing interconnects	A world-leading fabless IC design company and the largest memory interconnect chip supplier globally by 2024 revenue, holding a 36.8% market share. Its main product portfolio includes interconnect ICs (DDR5 RCD, MRCD/MDB, PCIe Retimers, CXL MXC) and the Jintide server platform, widely deployed across data centers, servers, and AI infrastructure. Driven by AI inference and Agent workloads increasing CPU centrality, memory interconnect demand continues to expand. H1 2026 revenue is projected at ~RMB 3.335 billion (+26.6% YoY).
Z.AI	02513.HK	Premier player in China's independent Large Language Model sector	Has launched its flagship next-gen model GLM-5.2, achieving open-source SOTA performance in coding and agentic capabilities. In partnership with Huawei, it open-sourced the multimodal image model GLM-Image. Focusing on novel model architectures, universal reinforcement learning paradigms, and autonomous model evolution, its business model closely aligns with enterprise AI productivity adoption.
ILUVATAR COREX	09903.HK	Domestic general-purpose GPU pioneer & builder of full-scenario AI compute bases	Established in 2015, it is among the earliest domestic vendors to achieve mass production of general-purpose GPUs. Product lines cover training, inference, and edge computing across the Tiangai, Zhikai, and Tongyang series. In July 2026, it launched its next-gen flagship Tiangai 300 at WAIC, matching the Nvidia Hopper architecture. As of late 2025, it served 340+ clients across 30+ industries, generating core GPGPU revenue of ~RMB 923 million (+149.6% YoY).
GIGADEVICE	03986.HK	Platform semiconductor leader spanning memory, MCUs, analog ICs, and sensors	Offers complete product categories including memory (NOR Flash, DRAM), microcontrollers (GD32 MCU), analog ICs, and sensors. Focuses on deep integration between AI and end applications across embodied AI, data centers/servers, industrial energy, and automotive. In March 2026, its DRAM procurement quota with CXMT surged from RMB 1.182 billion to RMB 5.711 billion. In July, it partnered strategically with Neusoft Reach to empower the smart vehicle sector.
SMIC	00981.HK	Mainland China's premier pure-play foundry with complete process coverage	The leading foundry in Mainland China, steadily ramping advanced modified N+1/N+2 nodes to absorb domestic AI compute chip orders. Mature nodes (28nm and above) provide stable cash flow backed by automotive power semiconductor demand. Positioned at the intersection of domestic AI substitution and mature-node revaluation, Q1 2026 revenue reached $2.505 billion (+11.5% YoY) with capacity utilization at 93.1%.

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AI MONTAGETECH Z.AI ILUVATAR COREX