Daily Report on Hong Kong-Listed LLM Concept Stocks (July 3, 2026)

NewTimeSpace · 2026/07/03 17:27 · By Zeyu Wu

On July 3, Hong Kong equities trended higher, with the HSI advancing 1.28%. Driven by Unitree Robotics' record-breaking STAR Market IPO approval, robotics concept stocks erupted, propelling Horizon Robotics and Estun Automation significantly higher. AI applications diverged, and the semiconductor sector corrected, while KNOWLEDGE ATLAS gained 2.2%. In major capital developments, global AI is signaling a shift toward operational efficiency as Meta plans to lease surplus AI computing and Anthropic negotiates custom chips with Samsung. Domestically, Kuaishou's Kling AI raised up to USD 3 billion at a USD 18 billion valuation—setting a global financing record for video models—while XUNCE launched a concurrent convertible bond and H-share placement to raise HKD 2.35 billion.

I. Industry Observations

On July 3, 2026, Hong Kong stocks trended higher amid volatility. The Hang Seng Index (HSI) closed up 1.28% at 23,350.03 points, the Hang Seng TECH Index rose 1.00% to 4,499.00 points, and the Hang Seng China Enterprises Index (HSCEI) advanced 1.15% to 7,699.76 points. Total daily turnover reached HKD 304.954 billion, with Southbound trading recording a net inflow of HKD 4.538 billion.

Robotics concept stocks erupted across the board. The China Securities Regulatory Commission (CSRC) approved Unitree Robotics' IPO registration on July 2, taking only 104 days from acceptance to registration effectiveness—setting a new speed record for the STAR Market. CITIC Securities noted that this milestone officially marks the dawn of the commercialization era for humanoid robots. Horizon Robotics-W surged 9.1%. Estun Automation skyrocketed 33.1% on its plan to acquire embodied AI robot enterprise Estun Kuzhuo, accelerating its capitalization process as mass production nears. Zhida Technology soared 45.5%, with charging robots now representing its fastest-growing business line.

AI application stocks exhibited divergence. JD Health gained 5.7% after upgrading its partnership with Yuwell Medical to facilitate the integration of AI medical devices into its HomeCare service ecosystem. The semiconductor and hardware sectors underwent a correction, with SMIC dropping 3.5%, Hua Hong Semiconductor falling 4.4%, and Lenovo Group retreating 3.3%. Elsewhere, SenseTime-W advanced 4.6%, KNOWLEDGE ATLAS rose 2.2%, and MINIMAX-W declined 2.9%.

II. Market Performance of LLM Concept Stocks

Stock Code	Stock Short Name	Closing Price (HKD)	Change
00020.HK	SENSETIME-W	1.38	4.55%
02513.HK	KNOWLEDGE ATLAS	1,793.00	2.22%
03690.HK	MEITUAN-W	71.6	1.06%
09888.HK	BIDU-SW	110.9	0.82%
00700.HK	TENCENT	431.2	0.23%
01024.HK	KUAISHOU-W	42.6	-0.09%
09988.HK	BABA-W	94.1	-0.42%
00100.HK	MINIMAX-W	346.6	-2.86%
03317.HK	XUNCE	117.3	-5.25%
02718.HK	MININGLAMP-W	188	-5.81%

Data Source: HKEX. For reference only, not investment advice. Data as of market close onJuly 3, 2026.

III. Industry and Corporate Dynamics

1. Meta Plans to Lease AI Computing Capacity; Anthropic in Talks with Samsung for Custom Chips—The AI Capital Cycle Enters a Phase of Refined Operations

From July 1 to July 2, the global AI industry saw two major developments. On July 1 local time, it was reported that Meta is planning a cloud infrastructure project dubbed "Meta Compute" to sell its surplus AI computing capacity and model access to external clients, encompassing both managed model APIs and bare-metal compute leasing. Meta's stock rose about 9% that day, while AI cloud service providers CoreWeave and Nebius both plunged around 15%. On July 2 local time, reports emerged that Anthropic is in deep discussions with Samsung exploring the development of custom AI chips, though the chip's positioning and performance specs remain undecided. Both developments collectively suggest that the AI industry is transitioning from a "growth-at-all-costs compute hoarding" arms race into a mature cycle focused on refined operations and capital returns.

2. KUAISHOU-W (01024.HK): Kling AI Completes Funding of Up to USD 3 Billion at a Post-Money Valuation of USD 18 Billion, Setting a Global Record for Video LLM Financing

On July 2, Kuaishou-W (01024.HK) announced that Beijing Kling, the independent operating entity of its video generation large model Kling AI, completed an external capital increase with a total cap of USD 3.0 billion. The post-money valuation reached USD 18 billion, setting a record for the largest financing amount globally for a video large model company. Among this, 21 initial investors contributed a total of USD 2.028 billion, while 15 additional investors injected a further USD 766 million. The round was jointly led by CPE, Guofang Capital, BlueFive, Tencent, Zhongguancun Science City Fund, and CITIC Securities, bringing together industrial capital from Alibaba Cloud and Baidu, as well as entertainment industry players like Huace Film & TV and Houwei Capital. Kuaishou expects to initiate the IPO process for Kling AI in Hong Kong within the next 12 months.

3. XUNCE (03317.HK): Launches Concurrent Issuance of Convertible Bonds and Placement of New H Shares, Aiming to Raise HKD 2.35 Billion

On July 2, XUNCE (03317.HK) issued an announcement declaring the launch of a concurrent financing transaction involving the issuance of convertible bonds (CBs) and the placement of new H shares. Utilizing a "CB + follow-on equity offering" structured combination, the company aims to raise a total of HKD 2.35 billion. This includes a proposed issuance of USD-settled zero-coupon convertible bonds due 2027 amounting to RMB 1.36 billion, alongside an expected net proceed of approximately HKD 771 million from the placement of new H shares. Morgan Stanley, Goldman Sachs, and Deutsche Bank are acting as Joint Global Coordinators, Joint Bookrunners, and Placing Agents, while Guotai and Haitong are acting as Placing Agents. The placement shares will be issued at a discount of approximately 13.0%.

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"	It has released DeepMiner, a multi-agent collaborative data analysis platform for commercial data analytics, and the open-source edge GUI (Graphical User Interface) model series, Mano. Deeply engaged in the enterprise service and data intelligence tracks, the company adopts a multi-agent architecture focusing on commercial data analysis. By utilizing structured factual data to mitigate AI hallucination risks, it provides decision-making agent pipelines for the marketing and mass consumption sectors. Additionally, it has launched AI Native hardware to expand the carriers for its agents.
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 leading multimodal content generation platform in China	Kling AI has completed independent financing with a total cap of USD 3 billion, at a post-money valuation of USD 18 billion, setting a global record for video foundation model companies, with plans to initiate a Hong Kong IPO within the next 12 months. Kling AI's quarterly revenue has exceeded 650 million RMB, with an Annualized Run Rate (ARR) of nearly 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.

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