Domestic Computing Power and "Artificial Intelligence+" Continue to Advance; Orient Artificial Intelligence Theme Hybrid Fund-A (005844) Rises Over 50% in the Past Month

NewTimeSpace News, On May 26, 2026, the Hang Seng Tech Index in the Hong Kong stock market fluctuated and rose sharply in morning trading, with the gain approaching 2% as of 11:00 AM. In the recent market, driven by overseas AI indicators that have boosted risk appetite, technology stocks have become a highly concentrated investment direction in the market, and the artificial intelligence-related industrial chain has become a heavily pursued sector by the capital market.

As of May 25, 2026, related AI-themed funds, such as Orient Artificial Intelligence Theme Hybrid Fund-A (005844) and Harvest Frontier Technology Hugangshen Equity Fund-A (004450), have all delivered strong performances.

According to Choice data, over the past month, Orient Artificial Intelligence Theme Hybrid Fund-A has achieved a cumulative increase of 57.58%, while Harvest Frontier Technology Hugangshen Equity Fund-A has recorded a cumulative increase of 33.63%.

Industry insiders analyze and point out that the global market has formed a high level of consensus on the prosperity of AI computing power and memory chips. Continuous, heavyweight industry catalysts both domestically and internationally keep boosting the confidence of long positions in the A-share technology sector.

On the news front, under the continuous development of the artificial intelligence industry, the National Development and Reform Commission (NDRC) held its May press conference on May 22. At the conference, the deputy director of the Policy Research Office and spokesperson of the NDRC systematically responded to hot topics such as AI infrastructure, industry applications, safety supervision, and embodied AI, clearly releasing multiple policy signals.

The deputy director of the Policy Research Office of the NDRC stated that both core technologies and application demands in the field of artificial intelligence are showing a rapid growth trend. The NDRC always adheres to systematic layout, industry-specific policies, open sharing, safety, and controllability to promote the extensive and deep integration of artificial intelligence with various industries and fields across the economy and society, while guiding domestic large models to increase efforts in adapting to domestic computing chips. This statement elevates the collaborative adaptation between "domestic large models" and "domestic computing chips" to an explicit level of policy guidance.

Recently, catalyzed by industry dynamics, large model-related companies under the artificial intelligence sector have received more attention from the capital market. As of 10:44 AM on May 26, 2026, the large model concept stock Mininglamp Technology-W (2718.HK) rose by 4.62%, leading the gains among Hong Kong-listed large model concept stocks. Meanwhile, Kuaishou-W (1024.HK) rose by 1.18%, SenseTime-W (0020.HK) rose by 0.63%, Zhipu (2513.HK) fell by 2.42%, and MINIMAX (0100.HK) fell by 7.87%.

Industrial Securities stated that domestic AI is moving from being "usable" to "highly effective." Domestic AI models are transitioning from the "usable" phase toward the phase of being "highly effective, fast, and large-scale in deployment," forcing the accelerated construction of the domestic computing power system. Token invocation volume has exploded, with domestic daily token invocation volume reaching 140 trillion times in March 2026. Behind this monumental leap from "hundreds of billions" to "hundreds of trillions" lies a simultaneous explosion in demand for AI inference computing power.

China Merchants Securities pointed out in its research report that domestic computing power and "Artificial Intelligence+" continue to advance, and the earnings verification of the A-share AI industrial chain is strengthening. Domestic policies continue to support open-source ecosystems, intelligent computing clusters, computing-electricity synergy, and AI applications in key industries. Consequently, domestic AI chips, servers, infrastructure software, model adaptation, and intelligent computing cluster construction have become vital main lines. Judging from the performance of the first-quarter reports, the year-on-year growth rate of net profits attributable to the parent company in the computer and electronics sectors ranked among the top positions of CITIC first-tier industries in 2026Q1, indicating that the boom in the AI industry is progressively translating into the operating performance of listed companies.

Hong Kong-listed Large Model Concept Stocks:

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.

SENSETIME-W (00020.HK)

Accelerating its transition towards Model-as-a-Service (MaaS) and generative AI services. The company has released and open-sourced the SenseNova U1 series, a native unified understanding and generation model, and the lightweight multimodal model SenseNova 6.7 Flash-Lite. Leveraging the computing reserves of its AI infrastructure (AIDC), it translates foundational computing power into omni-modal generation pipelines tailored for vertical industries such as automotive and healthcare.

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.

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.

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