Daily Report on Hong Kong-Listed LLM Concept Stocks (June 4, 2026)

NewTimeSpace · 2026/06/04 17:51 · By Xuran Lin

On June 4, Hong Kong stocks extended their losses, with tech stocks acting sluggish as the AI frenzy cooled. Most LLM concept stocks declined, with XUNCE and KUAISHOU-W being the rare exceptions, while the semiconductor sector shone brightly as a standalone outperformer. Meanwhile, industry capital and tech advancements remained highly active: DeepSeek is reportedly raising USD 7 billion in China's largest-ever AI financing round; WeChat partnered with Huawei, Honor, and others to enable A2A (Agent-to-Agent) interoperability, allowing native OS AI assistants to directly invoke WeChat functions; and Doubao announced an upcoming Pro version while pledging to keep daily core features free for general users.

I. Industry Observations

On June 4, 2026, the Hong Kong stock market continued its downward trend, with all three major indices suffering substantial losses for the second consecutive day. The Hang Seng Index (HSI) closed down 1.48% at 25,253.40 points, the Hang Seng TECH Index fell 1.61% to 4,975.36 points, and the Hang Seng China Enterprises Index (HSCEI) dropped 1.10% to 8,501.91 points. Total daily turnover shrank from the previous trading day to HKD 270.23 billion, with Southbound trading recording a net outflow of HKD 315 million.

Tech stocks were broadly sluggish as the AI frenzy cooled. Alibaba, Meituan, and Baidu all dropped over 2%, Tencent fell 1.59%, Kingdee International slumped 7.7%, and SENSETIME-W tumbled 4.6%.

The semiconductor and memory sectors stood out as the sole bright spots. GigaDevice surged 6.9%, with Hua Hong Semiconductor and Montage Technology following suit. On the news front, the global NAND market size nearly doubled quarter-on-quarter in Q1, with institutions projecting across-the-board price hikes for niche memory products.

II. Market Performance of LLM Concept Stocks

Stock Code	Stock Name	Latest Price (HKD)	Change (%)
03317.HK	XUNCE	188.2	4.15%
01024.HK	KUAISHOU-W	46.94	0.43%
00700.HK	TENCENT	459	-1.59%
00100.HK	MINIMAX-W	663.5	-1.70%
09888.HK	BIDU-SW	130.1	-2.11%
03690.HK	MEITUAN-W	78.6	-2.24%
09988.HK	BABA-W	123.5	-2.45%
02513.HK	KNOWLEDGE ATLAS	1,426.00	-2.46%
00020.HK	SENSETIME-W	1.65	-4.62%
02718.HK	MININGLAMP-W	267	-6.18%

Data Source: HKEX. For reference only, not investment advice. Data as of market close onJune 4, 2026.

III. Industry and Corporate Dynamics

1.DeepSeek Reportedly Kicks Off China's Largest-Ever AI Financing Round

Market rumors suggest that domestic AI unicorn DeepSeek has officially launched its first external funding round, aiming to raise approximately USD 7 billion (around RMB 50 billion) at a post-money valuation of up to USD 59 billion (around RMB 400 billion). If true, this is poised to break the single-round financing record for domestic AI enterprises, marking the largest funding round in the history of China's AI industry.

2.WeChat Partners with Huawei and Other Smartphone Makers for A2A Interoperability; System AI Can Directly Invoke WeChat Calls and Messages

On June 4, it was reported that WeChat is collaborating with multiple smartphone manufacturers—including Huawei, Honor, Xiaomi, OPPO, and vivo—to launch A2A (Agent-to-Agent) assistant capabilities. Users can initiate WeChat audio/video calls or send messages to specific contacts directly through their smartphone's native AI voice assistant. This collaboration is based on an A2A coordination framework and employs a dual-authorization mechanism throughout the process to ensure data security and privacy compliance. It is reported that Honor devices are the first to integrate this feature, with other brands progressively following suit. Specific launch timelines will depend on the system adaptation schedules of each manufacturer.

3.Doubao: Current Free Services for Everyday User Features Will Remain Unchanged

On June 3, Doubao released a "Statement on the Upcoming Launch of Doubao Pro." First, to meet the productivity demands of professionals, Doubao plans to launch Doubao Pro. Second, for the Doubao features widely used by the general public in their daily lives—including search Q&A, writing, image generation, and voice/video conversations—the platform will maintain the current free service model to ensure user experiences and habits remain unaffected.

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.
XUNCE	03317.HK	A leading data infrastructure provider for financial asset management in China	Recognized by the market as the "First Token Stock." The company continues to deepen the integration of LLMs into the core business workflows of financial asset management, reconstructing investment research, trading, and risk control pipelines through underlying data governance and AI technologies. Its underlying structured data cleaning capabilities closely align with the digital transformation of financial institutions and the compliant implementation trends of LLMs.
KUAISHOU-W	01024.HK	A top-tier player in omni-modal AGI	The company plans to restructure Kling AI and introduce external financing. Kling AI's quarterly revenue has reached 6.5 millions of RMB, with an Annualized Run Rate (ARR) exceeding USD 500 million. Its general LLM "KwaiYii" and video generation model "Kling" are undergoing continuous iteration, demonstrating high commercial conversion efficiency in scenarios such as e-commerce live streaming and automated marketing content generation.

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：

KUAISHOU-W XUNCE LLM