Huaan Hang Seng Internet Technology Industry ETF Initiating Feeder Fund A (019936) Rises 8.60% Cumulatively Since July as Enterprises code-named Alibaba and Tencent Announce Latest AI Achievements

NewTimeSpace (newtimespace.com) News, On July 20, 2026, Hong Kong tech enterprises strengthened. As of 10:50, the Hang Seng Internet Technology Industries Index (HSIII) rose strongly by 3.28%. Large model concept stocks such as Alibaba-W (9988.HK), Tencent Holdings (0700.HK), and Mininglamp Technology (2718.HK) led the gains.

Choice data shows that from the beginning of July 2026 to July 17,Huaan Hang Seng Internet Technology Industry ETF Initiating Feeder Fund A (019936) and Huaan Hang Seng Internet Technology Industry ETF Initiating Feeder Fund C (019937) rose by 8.60% and 8.59%, respectively.

In terms of news coverage, at the 2026 World Artificial Intelligence Conference, Hong Kong-listed large model enterprises made a collective appearance to showcase their latest progress. Alibaba announced that its next-generation flagship model, Qwen3.8, will soon be officially released and fully open-sourced. The preview version features a parameter scale of up to 2.4 trillion. According to official claims, its comprehensive capability positions it as potentially one of the most powerful models besides Claude Fable 5, showing significant evolution in code engineering and long-range task processing, with a commitment to open-sourcing the official version.

In addition, Tencent focused on demonstrating the application scenarios of products such as Yuanbao, WorkBuddy, CodeBuddy, Marvis, and ima built upon the Hunyuan Hy3 model base, covering personal assistants, knowledge management, office work, and programming.

CMB International stated that the valuation of the Hang Seng Tech Index has entered a highly attractive range, presenting value for buy-on-dipping layouts, while a recovery will depend on fundamental improvements. Although the fundamentals of the internet industry are weakening marginally, structural opportunities for Hong Kong stocks remain significant in the second half of the year supported by valuation advantages and potential policy easing. The institution is particularly bullish on leading companies with strong earnings certainty or those benefiting from AI cloud demand.

Guoyuan Securities pointed out that it is recommended to continue focusing on the latest progress in the field of artificial intelligence applications and even terminal devices. By continuously tracking the multiple deployment directions of leading large model developers and underlying computing power support enterprises in application and terminal fields, investors can discover new breakthrough points for the commercial implementation of AI technology as well as listed companies that can fully benefit from this trend.

Hong Kong-listed Large Model Concept Stocks:

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.

TENCENT (00700.HK)

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.

MININGLAMP-W (02718.HK)

As an LLM concept stock in the Hong Kong market, Mininglamp Technology is 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.

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