Daily Report on Hong Kong-Listed LLM Concept Stocks (July 1, 2026)
I. Industry Observations
On Wednesday, July 1, 2026, the Hong Kong stock market was closed all day in observance of the Hong Kong Special Administrative Region Establishment Day holiday. Southbound (Hong Kong Stock Connect) and Northbound (Stock Connect) trading services were suspended simultaneously.
With June wrapping up, the first half of 2026 officially concluded for Hong Kong equities. The Hang Seng Index (HSI) fell by a cumulative 10.73%, and the Hang Seng TECH Index plunged by 18.92%, both hitting periodic lows.
At the individual stock level, an extreme "K-shaped" divergence emerged over the first half of the year. Emerging AI large model players became the biggest winners: KNOWLEDGE ATLAS skyrocketed by 1,710.67%, MINIMAX-W surged by 152.73%, XUNCE rose by 141.19%, and MININGLAMP-W edged up by 5.28%. In sharp contrast, traditional internet tech giants collectively faced immense downward pressure: Tencent Holdings dropped 27.41%, Alibaba-W fell 34.40%, Meituan-W declined 33.69%, Kuaishou-W dropped 33.83%, and Baidu Group-SW retreated 16.65%. SenseTime-W slumped 39.09%, leading the sector's declines.
II. Market Performance of LLM Concept Stocks
|
Stock Code |
Stock Short Name |
Closing Price (HKD) |
H1 Change |
|
02513.HK |
KNOWLEDGE ATLAS |
2,104.00 |
1710.67% |
|
00100.HK |
MINIMAX-W |
417 |
152.73% |
|
03317.HK |
XUNCE |
121.8 |
141.19% |
|
02718.HK |
MININGLAMP-W |
207.4 |
5.28% |
|
09888.HK |
BIDU-SW |
109.6 |
-16.65% |
|
00700.HK |
TENCENT |
429.8 |
-27.41% |
|
03690.HK |
MEITUAN-W |
68.5 |
-33.69% |
|
01024.HK |
KUAISHOU-W |
41.6 |
-33.83% |
|
09988.HK |
BABA-W |
92.85 |
-34.40% |
|
00020.HK |
SENSETIME-W |
1.34 |
-39.09% |
Data Source: HKEX. For reference only, not investment advice. Data as of market close onJune 30, 2026.
III. Industry and Corporate Dynamics
1. Anthropic: US Department of Commerce Lifts Export Controls on Claude Fable 5 and Mythos 5; Global Access Resumes July 1
On June 30, local time, Anthropic announced on X platform that the US Department of Commerce has officially lifted export controls on Claude Fable 5 and Mythos 5. Global access to both models will resume in phases starting July 1. Anthropic stated that it has committed to "proactively block and address safety risks associated with these models." Previously on June 12, the US government requested Anthropic to suspend access to these two models for all foreign nationals on national security grounds, forcing Anthropic to disable them globally. On June 26, Mythos 5 was permitted for use by certain critical infrastructure entities in the US, marking a partial lifting of the ban.
2. Moonshot AI (Kimi): Pre-Money Valuation Rises to USD 31.5 Billion as New Funding Round Commences Following the Closing of Previous USD 20 Billion Round; ARR Crosses USD 300 Million
On June 30, according to industry reports, Moonshot AI's (Kimi) previous funding round at a USD 20 billion valuation recently closed, and a new funding round has been initiated, driving its pre-money valuation up to USD 31.5 billion. The company disclosed that its Annual Recurring Revenue (ARR) surpassed USD 300 million in mid-June, marking another milestone following its breach of USD 100 million in March and USD 200 million in May. This revenue growth was primarily driven by developer adoption and surging API revenue propelled by model iterations; API revenue now accounts for over 70% of total revenue and continues to trend higher.
3. Huawei: 92-Billion-Parameter openPangu-2.0-Flash Model Officially Open-Sourced; Pro Version to Launch in July
On June 30, Huawei officially announced the open-source launch of its Pangu 92-billion-parameter model, openPangu-2.0-Flash, which includes model weights, basic inference code, and training/inference operators. The openPangu-2.0-Pro model weights and basic inference code will go live on open-source platforms in July, with more open-source components rolling out sequentially in the second half of the year. Officially launched at the Huawei Developer Conference (HDC 2026), the model utilizes a sparse Mixture of Experts (MoE) architecture, supports an ultra-long context window of 512K tokens, and features 92B total parameters (with 6B activated), natively optimized deeply for Huawei Ascend chips.
IV. Introduction to LLM Concept Stocks
|
Stock Name |
Stock Code |
Market Position |
LLM Products & Business Profile |
|
KNOWLEDGE ATLAS |
02513.HK |
A leading player in China's independent LLM sector |
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-5.2, 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 |
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. |
|
MININGLAMP-W |
02718.HK |
LLM concept stock, dubbed 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. |
|
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. |
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- Daily Report on Hong Kong-Listed LLM Concept Stocks (June 30, 2026)
- Daily Report on Hong Kong-Listed LLM Concept Stocks (June 29, 2026)
- Weekly Report on Hong Kong-Listed LLM Concept Stocks (June 22 - 26, 2026)
- Daily Report on Hong Kong-Listed LLM Concept Stocks (June 26, 2026)
- Daily Report on Hong Kong-Listed LLM Concept Stocks (June 25, 2026)
