Hong Kong AI Concept Stock Daily (July 23, 2026)

NewTimeSpace · 2026/07/23 18:02 · By Boyuan Chen

On 23 July 2026, Hong Kong-listed AI sector saw sharp divergence. AI chip and semiconductor chains suffered a deep pullback (HUA HONG GRACE and ILUVATAR COREX slumped more than 7%), while large language model concept stocks rallied collectively (MEITUAN-W rose 4.36% and BIDU-SW gained 2.3%). Autonomous driving stocks traded mixed.On the industrial front, seven central ministries issued requirements stipulating that newly-built intelligent computing centres must source no less than 75% of chips from domestic suppliers starting September. HORIZON ROBOT-W launched a USD450 million convertible bond issue and expects to turn profitable. UBTECH ROBOTICS leads the project to set a national standard for humanoid robot data. AMD entered a USD5 billion strategic partnership with Anthropic.The market is rapidly pricing in policies for computing power localisation. Capital is rotating from hardware players to application-focused firms, with pronounced structural rotation across the sector.

I. Market Overview

On July 23, 2026, Hong Kong stocks closed higher. The Hang Seng Index rose 1.28% to 25,210.81 points, the Hang Seng TECH Index gained 0.65%, and the Hang Seng China Enterprises Index advanced 1.23%. Total daily turnover reached HKD 233.48 billion, while Southbound capital recorded a net outflow of HKD 4.226 billion.

The AI and hard-tech sectors exhibited divergent performance. Horizon Robotics-W declined 3.8%, while Hua Hong Semiconductor tumbled 7.5%. Computing hardware stocks pared early gains after a higher open, influenced by Google’s continued upward revision of its capex guidance. MLCC (Multi-Layer Ceramic Capacitor) concept stocks traded actively: Teamway International Group surged 18% as key industry production lines reached full capacity, with price hikes expected to take effect in July and August; Tri-Ring Group rose 2.8%. Basic Semiconductor surged 20% to reach a new record high, backed by its rare Silicon Carbide (SiC) product portfolio and upcoming price increases of up to 25% starting in Q3.

Autonomous driving and new energy vehicle (NEV) sectors recovered. Leapmotor gained 3.5%, with its B10 model launching in Mexico this month. Li Auto-W rose 2.8%, and Geely Automobile advanced over 3%, driven by dual growth engines in high-end positioning and overseas expansion. Baidu Group-SW gained 2.3% following confirmation from the Hong Kong Stock Exchange (HKEX) that its application to convert to a dual-primary listing had been received.

II. Market Performance of Representative AI Stocks

Stock Code	Company Name	Closing Price (HKD)	Change	Sector / Concept
02026.HK	PONY-W	56.8	5.38%	Autonomous Driving
03690.HK	MEITUAN-W	87.3	4.36%	LLM
09888.HK	BIDU-SW	106.8	2.30%	LLM
01810.HK	XIAOMI-W	27.14	1.72%	Embodied AI
00800.HK	WERIDE-W	15.4	1.58%	Autonomous Driving
00100.HK	MINIMAX-W	199.3	1.17%	LLM
09988.HK	BABA-SW	114.9	1.14%	LLM
00700.HK	TENCENT	445.2	1.04%	LLM
01024.HK	KUAISHOU-W	43.08	0.89%	LLM
02513.HK	Z.AI	1171	-0.34%	LLM
02498.HK	ROBOSENSE	22.66	-1.39%	Autonomous Driving
06082.HK	BIRENTECH	37.32	-1.43%	AI Chips
09880.HK	UBTECH ROBOTICS	82.15	-1.56%	Embodied AI
02533.HK	BLACK SESAME	11.47	-1.97%	Autonomous Driving
06809.HK	MONTAGETECH	311.8	-2.38%	AI Chips
00981.HK	SMIC	70.75	-2.95%	AI Chips
09660.HK	HORIZONROBOT-W	4.57	-3.79%	Autonomous Driving
03986.HK	GIGADEVICE	559.5	-4.20%	AI Chips
09903.HK	ILUVATAR COREX	544	-7.01%	AI Chips
01347.HK	HUA HONG GRACE	149.4	-7.49%	AI Chips

Data Source: HKEX. For reference only, not investment advice. Data as of market close onJuly 23, 2026.

III. AI Industry & Corporate Developments

1. Seven Government Ministries Jointly Issue Directive Mandating Minimum 75% Domestic Chip Procurement for Intelligent Computing Centers

On July 21, the opening day of WAIC 2026, seven Chinese ministries including the Ministry of Industry and Information Technology (MIIT) jointly released the National Computing Power Infrastructure Construction Action Plan (2026–2028). The policy stipulates that starting September 2026, newly built intelligent computing centers operated by central SOEs, state-owned enterprises, and government agencies must source at least 75% of their overall computing hardware domestically. Non-compliant projects face approval suspensions for energy consumption quotas and special subsidies. This policy is set to directly reshape the procurement landscape of the multi-hundred-billion-yuan computing chip market, accelerating the transition of domestic GPUs and AI accelerators into large-scale commercial deployments within data centers.

2. HORIZONROBOT-W (09660.HK) Plans $450 Million Zero-Coupon Convertible Bond Offering

On July 22, HORIZONROBOT-W (09660.HK) announced plans to issue $450 million in zero-coupon convertible bonds due July 27, 2027. The initial conversion price is set at HKD 5.55 per share, representing a 16.8% premium over the July 22 closing price of HKD 4.75. Net proceeds are expected to be approximately $445.5 million, with roughly $398.9 million allocated for cash payments to CARIAD (including loan repayments) and the remainder for working capital. The company expects H1 revenue to grow 24.8%–34.5% year-over-year, positioning it for a potential net profitability turnaround.

3. UBTECH ROBOTICS (09880.HK) Leads Eight Standards; First National Quality Standard for Humanoid Robot Datasets Formally Established

On July 23, the national standard project Humanoid Robot Datasets — Part 6: Quality Evaluation was officially approved. Under the purview of the National Technical Committee on Robotics Standardization (SAC/TC591), the standard is jointly led and drafted by the Beijing Automation Research Institute (Secretariat of TC591) and UBTECH ROBOTICS. To date, UBTECH ROBOTICS has led the formulation of eight initial national standards for humanoid robotics.

4. AMD and Anthropic Announce Strategic Partnership Involving GPU Deployment and Up to $5 Billion Equity Investment

On July 22, AMD and Anthropic announced a strategic partnership. Anthropic will deploy up to 2 gigawatts of AMD Instinct MI450 series GPUs within AMD Helios rack-scale solutions, with the initial 1-gigawatt deployment scheduled for H1 2027. The two companies will also engage in a multi-year engineering collaboration using Claude to accelerate AMD's software development pipelines. Additionally, AMD committed to making strategic equity investments of up to $5 billion in Anthropic over time.

5. BIDU-SW (09888.HK) Applies for Dual-Primary Listing Conversion; Received HKEX Acknowledgment

On July 22, BIDU-SW (09888.HK) announced that it had submitted an application to the Hong Kong Stock Exchange to convert its listing status from secondary to dual-primary, receiving formal acknowledgment from the Exchange on the same day. The effective date is anticipated within the current calendar year. Upon completion, BIDU-SW will maintain dual-primary listing status on both the HKEX and NASDAQ. In preparation, BIDU-SW has appointed joint company secretaries and authorized representatives, and will convene an Extraordinary General Meeting (EGM) to propose the relevant ordinary resolutions.

IV. Profiles of Representative AI Concept Stocks

Company Name	Stock Code	Industry Position	Main Product Lines & Business Overview
PONY-W	02026.HK	Global commercialization leader in L4 autonomous mobility and logistics	The first autonomous driving company in China to secure fully driverless Robotaxi commercial operation permits across all four top-tier cities (Beijing, Shanghai, Guangzhou, Shenzhen). Core operations span autonomous ride-hailing (Robotaxi) and freight services (Robotruck), with Robotaxi deployments across 9 countries and public operations in overseas markets including Croatia, Qatar, Singapore, and South Korea. Targeting a global fleet exceeding 3,000 vehicles across 20+ cities by 2026, the company has achieved positive unit economics per vehicle.
MEITUAN-W	03690.HK	AI technology pioneer in local life services	Its AI-native community application "Miyu" has demonstrated operational value in physical retail and dining environments, boosting merchant efficiency. The company continuously enhances search, recommendation, and dispatch algorithms across its local commerce ecosystem using proprietary foundation models. By deploying AI Agent technologies in customer service, merchant marketing assistants, and instant delivery route planning, the company improves dual-sided operational efficiency and management precision.
BIDU-SW	09888.HK	Dual-engine leader in China's AI infrastructure and autonomous driving	Financial results show AI revenue accounting for 52% of core business revenue, replacing traditional advertising as the primary growth driver. Ernie Model 5.1 is officially live, ranking 1st nationally and 4th globally on LMArena benchmarks. The Qianfan model platform aggregates mainstream foundation models for commercial API consumption, driving a 79% YoY surge in AI Cloud revenue. Apollo Go leads in fully driverless commercial operations, accumulating over 330 million operational kilometers and achieving breakeven per vehicle in select cities. Foundation model capabilities continue to penetrate AI Cloud, autonomous driving, and AI-native applications.
XIAOMI-W	01810.HK	Full-stack AI technology giant anchored by the "Human x Car x Home" ecosystem	Its foundational model family MiMo has entered the top tier of global open-source models; MiMo-V2-Pro features over 1 trillion parameters, while MiMo-V2.5-Pro tied for 1st globally among open-source models with a score of 54 on the Artificial Analysis composite index. AI capabilities fully power the "Human x Car x Home" ecosystem, driving iterative upgrades in the CyberOne humanoid and CyberDog bionic quadrupeds. Multimodal computer vision, force-control algorithms, and automated dispatch logics are deeply integrated into dark-factory production and flexible manufacturing.
WERIDE-W	00800.HK	The world's only L4 cross-scenario autonomous driving platform holding permits across seven countries	Holds autonomous driving permits across China, the UAE, Singapore, France, Saudi Arabia, Belgium, and the US. Built upon the proprietaryWeRide One platform, the company covers smart mobility, logistics, and sanitation across five core product lines: Robotaxis, Robobuses, Robosweepers, Robovans, and Advanced Driving Assistance Systems (ADAS). Operations cover over 30 cities across 11 countries, supported by an L4 fleet exceeding 1,500 vehicles.

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