Daily Report on Hong Kong-Listed LLM Concept Stocks (May 26, 2026)

Stock Code

Stock Name

Closing Price (HKD)

Change (%)

02718.HK

MINIMAX-W

313.800

18.95

02513.HK

KNOWLEDGE ATLAS

1345.000

4.91

03317.HK

XUNCE

247.400

2.49

00020.HK

SENSETIME-W

1.790

1.13

09988.HK

BABA-W

127.600

0.47

01024.HK

KUAISHOU-W

45.800

0.35

00100.HK

MINIMAX-W

769.000

0.07

09888.HK

BIDU-SW

128.000

-0.16

00700.HK

TENCENT

439.000

-0.54

03690.HK

MEITUAN-W

78.800

-3.13

Stock Name

Stock Code

LLM Products & Business Profile

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

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

Relying on its self-developed edge models Mano, Cito, and Mano-P, along with the Cider inference framework, it fully supports its Agentic AI positioning. Its business architecture uses the DeepMiner LLM as the underlying engine and Octo as the collaborative hub, uniformly delivering various AI products and industry solutions in the form of Agentic Services. Mininglamp pursues a differentiated technological route, bypassing the "Scaling Up" parameter expansion of general models in favor of a "Scaling Out" approach that coordinates multiple specialized small models. Its core moats are granular scenario data, specialized models, and continuous learning, achieving precision in vertical scenarios that general models cannot match. The company is committed to building an open-source, privately deployable, and white-box auditable Private AI infrastructure.

BABA-W

09988.HK

The company has released several new models, including Qwen3.6-Plus, with the Qwen LLM surpassing 1.4 trillion Tokens in daily API calls, setting a new global record for daily calls on third-party platforms. The Qwen consumer-facing application has exceeded 300 million MAU and has been integrated into the smart cabins of multiple automakers. It consistently ranks at the forefront in international benchmark evaluations for coding and agentic capabilities. Its business layout seamlessly matches the trend of scaled procurement of computing power and model APIs by government and enterprise clients.