Daily Report on Hong Kong-Listed LLM Concept Stocks (May 29, 2026)

NewTimeSpace · 2026/05/29 18:24 · By Boyuan Chen

On May 29, Hong Kong stocks trended higher, with Lenovo surging 22% on AI server optimism and Baidu leading LLM concept stocks. Globally, Anthropic's valuation hit USD 965 billion, surpassing OpenAI as it launched its new flagship model. Meanwhile, Meituan rolled out two major AI commercial products for on-demand retail, and Tencent introduced the Hy-Memory plugin for Agents, accelerating AI application deployment.

I. Industry Observations

On May 29, 2026, the Hong Kong stock market trended higher amid volatility. The Hang Seng Index (HSI) closed up 0.70% at 25,182.39 points, the Hang Seng TECH Index edged down 0.09% to 4,884.23 points, and the Hang Seng China Enterprises Index (HSCEI) rose 0.73% to 8,425.82 points. Total daily turnover significantly expanded to HKD 462.07 billion from the previous trading day, with Southbound trading recording a net inflow of HKD 1.884 billion.

Heavyweight tech stocks delivered divergent performances. Lenovo Group skyrocketed 22.0%, pushing its market capitalization past HKD 310 billion, buoyed by Dell’s massive 88% surge in Q1 revenue and its upgraded outlook for AI server sales.

Within the LLM supply chain, BIDU-SW (09888.HK) led the gains with an increase of over 3%, while KUAISHOU-W (01024.HK) and TENCENT (00700.HK) followed with modest gains.

II. Market Performance of LLM Concept Stocks

Stock Code	Stock Name	Latest Price (HKD)	Change (%)
09888.HK	BIDU-SW	130	3.50%
01024.HK	KUAISHOU-W	45.54	1.47%
00700.HK	TENCENT	427.2	0.52%
00100.HK	MINIMAX-W	840	0.36%
03690.HK	MEITUAN-W	73.45	0.20%
00020.HK	SENSETIME-W	1.66	0.00%
09988.HK	BABA-W	120.9	-0.74%
02513.HK	KNOWLEDGE ATLAS	1,595.00	-1.42%
02718.HK	MININGLAMP-W	321.4	-2.25%
03317.HK	XUNCE	227	-6.74%

Data Source: HKEX. For reference only, not investment advice. Data as of market close on May 29, 2026.

III. Industry and Corporate Dynamics

1.Global AI Startup Valuation Realignment:Anthropic announced the completion of its USD 65 billion Series H funding round on May 28, bringing its post-money valuation to USD 965 billion. This milestone pushes Anthropic past OpenAI (valued at USD 852 billion) to become the world’s most valuable AI startup. The round was led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital, with participation from chip giants including Micron, Samsung, and SK Hynix. Concurrently, Anthropic launched its next-generation flagship model, Claude Opus 4.8, outperforming GPT-5.5 and Gemini 3.1 Pro across multiple benchmarks. The model introduces a "Dynamic Workflow" feature that coordinates hundreds of sub-agents to process ultra-large-scale complex tasks, alongside a new "Turbo Mode" that runs at 2.5 times the speed at only one-third of the cost of its predecessor.

2.MEITUAN-W:On May 27, Meituan rolled out the industry's first all-domain AI solution tailored for on-demand retail merchants, named "Qianniuhua Claw." Targeting three major merchant pain points—high multi-store management costs, difficulties in fine-grained operations, and low strategic management efficiency—the solution provides a comprehensive "AI Service + AI System" bundle. It is open to all on-demand retail merchants, brands, and supply chain participants across the industry. Previously, on May 26, Meituan launched its "Paotui Skill" (Errand-running Skill), which encapsulates its errand-ordering capabilities into a standardized API. This allows multiple AI assistants like OpenClaw, Cursor, and WeChat to support users in placing orders seamlessly via natural language commands. With both product lines advancing concurrently, Meituan is accelerating the commercialization of its AI capabilities.

3.TENCENT:On May 28, Tencent Hunyuan officially launched Hy-Memory, a memory plugin specifically engineered for long-term collaborative agents such as OpenClaw. Designed to act as a "second brain" for Agents, Hy-Memory plays a critical role in processing ultra-long contexts, providing foundational technical support for long-term memory and continuous interaction within intelligent agents.

IV. Introduction to LLM Concept Stocks

Stock Name	Stock Code	Market Position	LLM Products & Business Profile
TENCENT	00020.HK	An Internet tech giant with a national-scale application ecosystem and the platform provider with the broadest LLM implementation scenarios in China	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.
MEITUAN-W	03690.HK	An AI technology pioneer in the local lifestyle services sector	Its AI-native community "Miyou" has validated its practical value in physical operational scenarios, helping catering brands improve operational efficiency. The company continues to optimize search, recommendation, and dispatch algorithms within the local lifestyle ecosystem using its self-developed LLM capabilities. By introducing AI agent technologies into intelligent customer service, merchant marketing assistants, and on-demand delivery route planning, it remains committed to enhancing bilateral operational efficiency and refined management levels.
BIDU-SW	09888.HK	China's leading AI search and intelligent cloud provider	Financial reports indicate that AI revenue now accounts for over half (52%) of its general business. Core products ERNIE Bot and the Qianfan LLM platform serve as critical entry points for enterprise-level model fine-tuning. The Apollo Go fully driverless robotaxi service completed millions of rides in a single quarter, with cumulative autonomous driving mileage exceeding 330 million kilometers. Its LLM capabilities are continuously penetrating the real economy and asset-heavy sectors like autonomous driving.

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