Hong Kong AI Concept Stock Daily：Most AI chip and large-model names under pressure; Iluvatar CoreX (09903.HK) rose 9.23% against the trend-20260903

NewTimeSpace · 2026/09/03 18:02 · By Zeyu Wu

On September 3, 2026, the three major Hong Kong indices opened higher but closed lower: the Hang Seng Index fell 0.39%, the Hang Seng TECH Index fell 1.08%, and the Hang Seng China Enterprises Index fell 0.77%. The Hang Seng Index's full-day turnover was HK$199.4 billion, and southbound funds recorded a net inflow of HK$3.395 billion. AI concept stocks showed a divergent performance on the day, with the intelligent-driving direction broadly strengthening, while the AI chip and large-model directions were mostly under pressure.

I. Market Overview

The large-model direction mostly weakened, with MINIMAX-W (00100.HK) rising 3.62% against the trend, KUAISHOU-W (01024.HK) falling 2.62%, and Z.AI, Baidu Group-W, TENCENT, ALIBABA-W, and MEITUAN-W following the declines.

In the AI chip direction, Iluvatar CoreX (09903.HK) rose 9.23%, with HUA HONG GRACE following the gains. BIREN TECH (06082.HK) fell 2.82%, with SMIC, MONTAGE TECHNOLOGY, and GIGADEVICE following the declines.

In the intelligent-driving direction, PONY-W (02026.HK) rose 5.11%, WERIDE-W (00800.HK) rose 2.88%, and HORIZONROBOT-W and ROBOSENSE followed the gains. BLACK SESAME (02533.HK) fell 3.40%.

In the embodied intelligence direction, UBTECH ROBOTICS (09880.HK) edged down 0.06%, and XIAOMI-W (01810.HK) fell 2.21%.

II. Market Performance of Representative AI Stocks

Stock Code	Company Name	Closing Price (HKD)	Change(%)	Sector / Concept
09903.HK	ILUVATAR COREX	402.200	9.23	AI Chips
02026.HK	PONY-W	55.500	5.11	Autonomous Driving
00100.HK	MINIMAX-W	355.000	3.62	LLM
00800.HK	WERIDE-W	15.360	2.88	Autonomous Driving
01347.HK	HUA HONG GRACE	119.800	1.96	AI Chips
09660.HK	HORIZONROBOT-W	4.370	1.51	Autonomous Driving
02498.HK	ROBOSENSE	17.590	1.44	Autonomous Driving
09880.HK	UBTECH ROBOTICS	79.100	-0.06	Embodied AI
00981.HK	SMIC	68.050	-0.29	AI Chips
02513.HK	Z.AI	1,108.000	-0.81	LLM
09888.HK	BIDU-SW	91.500	-0.92	LLM
03986.HK	GIGADEVICE	466.800	-1.14	AI Chips
00700.HK	TENCENT	433.000	-1.19	LLM
06809.HK	MONTAGETECH	258.400	-1.30	AI Chips
03690.HK	MEITUAN-W	77.650	-1.40	LLM
09988.HK	BABA-SW	107.500	-2.18	LLM
01810.HK	XIAOMI-W	27.440	-2.21	Embodied AI
01024.HK	KUAISHOU-W	32.760	-2.62	LLM
06082.HK	BIRENTECH	42.080	-2.82	AI Chips
02533.HK	BLACK SESAME	10.240	-3.40	Autonomous Driving

Data Source: HKEX. For reference only, not investment advice. Data as of market close on September 3, 2026.

III. AI Industry & Corporate Developments

1. Kimi API now natively supports Codex and Claude Code

On September 2, Moonshot AI announced that, to meet users' need to connect Kimi API within Codex and Claude Code, Kimi API now supports OpenAI's Responses API format and also supports Anthropic's Messages API format. Users of Codex or Claude Code can directly connect to models such as kimi-k3, kimi-k2.7-code-highspeed, kimi-k2.7-code, and kimi-k2.6 via a custom model provider, without converting formats or using a local proxy.

2. Anthropic to release a new version of its AI model Fable

On September 2, it was reported that Anthropic will release a new version of its AI model Fable. The company said Fable 5.1 performs better on programming and scientific-research tasks while also costing less. Anthropic stated that Fable 5.1's per-token price for enterprise users will remain consistent with Fable 5, but it will lower the charge when the model re-invokes previously processed information. The company said the price for this step will be cut by 75%, thereby "significantly reducing" the model's overall operating cost.

3. Google launches two new Gemini models, strengthening programming and cybersecurity capabilities

On September 2, Google officially launched two AI models, Gemini 3.8 Flash and Gemini 3.8 Flash Cyber. Gemini 3.8 Flash focuses on optimizing software engineering, AI agents, and multi-step complex reasoning, with pricing maintained at the previous generation's level—delivering performance upgrades without a price increase. Gemini 3.8 Flash Cyber is a cybersecurity-specific model that can automatically discover vulnerabilities and generate remediation patches, and is made available through the Fairwind program to government agencies, critical infrastructure operators, and software maintenance organizations.

4. Tencent WorkBuddy announces platform launch, to fully open Agent foundation capabilities

On September 2, Tencent WorkBuddy announced that its open platform (open.WorkBuddy.cn) has officially launched, with over 100 ecosystem partners introduced in the first batch, opening up underlying Agent capabilities to smart hardware, industry applications, developers, and others. To date, brands including Plaud, Rokid, Insta360, iFLYTEK, Anker, Hollyland, and JD Jingzao have launched co-branded smart hardware, covering more than 20 fields such as finance, law, healthcare, education, and public welfare.

5. NVIDIA close to acquiring AI company Hugging Face for US$14 billion

On September 2, it was reported that NVIDIA is in advanced talks to acquire AI startup Hugging Face, in a deal that could be worth about US$14 billion. The report said NVIDIA's retention package for acquiring Hugging Face is valued at US$12.9 billion.

IV. Profiles of Representative AI Concept Stocks

Company Name	Stock Code	Industry Position	Main Product Lines & Business Overview
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.
PONY-W	02026.HK	Global commercialization leader in L4 autonomous mobility and logistics	The first autonomous driving company in China to secure fully driverless Robotaxi commercial operation permits across all four top-tier cities (Beijing, Shanghai, Guangzhou, Shenzhen). Core operations span autonomous ride-hailing (Robotaxi) and freight services (Robotruck), with Robotaxi deployments across 9 countries and public operations in overseas markets including Croatia, Qatar, Singapore, and South Korea. Targeting a global fleet exceeding 3,000 vehicles across 20+ cities by 2026, the company has achieved positive unit economics per vehicle.
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).
HORIZONROBOT-W	09660.HK	China's leading intelligent driving computing solution provider and full‑stack vehicle intelligence enabler	Founded in 2015, it offers ADAS and high‑level autonomous driving solutions. Core products include the Journey-series in-car AI chips (cumulative shipments exceeding 10 million units), the HSD full‑scenario urban driving solution, and the "Starry 6P" cockpit‑driving integrated vehicle intelligence chip. In 2025, it held a 47.7% market share in domestic ADAS for independent brands, with full‑year revenue of RMB 3.758 billion, up 57.7% YoY.
HUA HONG GRACE	01347.HK	Global leader in specialty process wafer foundry	A world‑leading specialty process wafer foundry, the company operates 8‑inch and 12‑inch production lines serving new energy vehicles, industrial control, and data center power management. It provides customized manufacturing in power devices, embedded non‑volatile memory, analog ICs, and power management chips, with multiple automotive‑grade certifications and sustained high capacity utilization.

NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.

Tags：

NewTimeSpace MINIMAX-W ILUVATAR COREX