Hong Kong AI Concept Stock Daily：Two Large-Model Giants Rise Against the Trend, AI Chip and Hardware Rebound -20260812

NewTimeSpace · 2026/08/12 17:50 · By Xuran Lin

On August 12, 2026, Hong Kong's three major indices continued to decline. The Hang Seng Index fell 0.83%, the Hang Seng Tech Index dropped 0.99%, and the Hang Seng China Enterprises Index declined 0.96%.The large‑model sector showed a clear divergence. MINIMAX‑W (00100.HK) was favored by Daiwa and Morgan Stanley, rising nearly 9%, while Z.AI (02513.HK) gained 1.34%.The AI chip and hardware sector staged a broad‑based rebound. MONTAGETECH (06809.HK) and HUA HONG GRACE (01347.HK) both rose over 7%, with SMIC, GIGADEVICE, and others following higher.

I. Market Overview

On August 12, 2026, Hong Kong's three major indices continued to decline. The Hang Seng Index fell 0.83%, the Hang Seng Tech Index dropped 0.99%, and the Hang Seng China Enterprises Index declined 0.96%. Total turnover on the Hang Seng Index reached HKD 216.8 billion, while Southbound capital recorded a net outflow of HKD 2.906 billion.

The large‑model sector showed a clear divergence. MINIMAX‑W (00100.HK) was favored by Daiwa and Morgan Stanley, rising nearly 9%, while Z.AI (02513.HK) gained 1.34%. TENCENT (00700.HK), which announced its interim results today, closed down nearly 2%, while BABA‑SW, BIDU‑SW, KUAISHOU‑W, and other names weakened.

The AI chip and hardware sector staged a broad‑based rebound. MONTAGETECH (06809.HK) and HUA HONG GRACE (01347.HK) both rose over 7%, with SMIC, GIGADEVICE, and others following higher.

The autonomous driving sector diverged and weakened. HORIZONROBOT‑W (09660.HK) rose 2.35%, while BLACK SESAME edged up slightly. PONY‑W and WERIDE‑W (00800.HK) fell approximately 1%.

In the embodied intelligence space, UBTECH ROBOTICS (09880.HK) edged up 1.28%, while XIAOMI‑W (01810.HK) continued to weaken.

II. Market Performance of Representative AI Stocks

Stock Code	Company Name	Closing Price (HKD)	Change	Sector / Concept
02026.HK	MINIMAX-W	67.150	5.75	LLM
00800.HK	MONTAGETECH	16.870	2.55	AI Chips
02533.HK	HUA HONG GRACE	11.900	2.15	AI Chips
06809.HK	GIGADEVICE	263.000	2.10	AI Chips
00100.HK	BIRENTECH	328.000	1.74	AI Chips
09880.HK	SMIC	89.650	1.19	Embodied AI
09660.HK	HORIZONROBOT-W	5.100	0.10	Autonomous Driving
09988.HK	Z.AI	126.400	-0.24	LLM
03690.HK	UBTECH ROBOTICS	93.050	-0.91	Embodied AI
00981.HK	BLACK SESAME	65.300	-1.36	Autonomous Driving
06082.HK	ILUVATAR COREX	37.360	-1.84	AI Chips
03986.HK	ROBOSENSE	490.000	-2.20	Autonomous Driving
00700.HK	WERIDE-W	470.800	-2.20	Autonomous Driving
09888.HK	PONY-W	104.600	-2.52	Autonomous Driving
01347.HK	XIAOMI-W	133.300	-3.05	Embodied AI
02498.HK	MEITUAN-W	23.020	-3.28	LLM
01810.HK	TENCENT	26.660	-3.48	LLM
01024.HK	BIDU-SW	42.640	-3.79	LLM
02513.HK	KUAISHOU-W	1,192.000	-4.79	LLM
09903.HK	BABA-SW	414.800	-5.51	LLM

Data Source: HKEX. For reference only, not investment advice. Data as of market close on August 12, 2026.

III. AI Industry & Corporate Developments

1. Shanghai to build a 100,000‑card‑scale ultra‑large intelligent computing cluster

On August 11, it was reported that Shanghai has issued its "15th Five‑Year Plan" for the development of the software and information services industry. By 2030, Shanghai aims to transform its software and information services industry into a "power source" for economic growth, a "main battlefield" for AI‑empowered applications, and a "bridgehead" for global competition. The industry scale is targeted to reach RMB 4 trillion, with industry added value exceeding RMB 1.1 trillion. Shanghai will implement the "Hundred‑Thousand‑Million" intelligent computing cluster project, establishing 100,000‑card‑scale ultra‑large intelligent computing clusters in Songjiang, Lingang, Qingpu, and other areas, while building thousand‑card‑scale clusters in Baoshan, Pudong, Jiading, and other locations.

2. NVIDIA reportedly developing trillion‑parameter open‑source AI model Nemotron 4

On August 11, it was reported that NVIDIA (NVDA.US) is developing a new‑generation open‑source AI model, Nemotron 4, with an expected parameter count of at least 1 trillion, aiming to compete with the world's leading open‑source large models. NVIDIA hopes to expand the scope of AI applications through an open model ecosystem and further drive market demand for its GPU computing power.

3. Beijing Academy of Artificial Intelligence (BAAI) releases AREX autonomous research agent

On August 11, BAAI released AREX, an autonomous research agent that pioneers a "research → verification → re‑research" dual‑loop recursive framework, enabling AI to continuously self‑correct in long‑horizon tasks and progressively approach correct answers. The model weights have been open‑sourced, and a research trial version is also available, supporting news tracking, paper filtering, podcast summarization, as well as AI‑driven paper reading, hot‑topic tracking, and literature review generation.

4. Demiron Robotics announces completion of hundreds of millions of yuan in financing, led by Ant Group

On August 11, Demiron Robotics announced the completion of a financing round worth hundreds of millions of yuan, led by Ant Group, with existing shareholders making additional oversubscribed investments. Within the past two months, Demiron has successively completed a Series A round of RMB 100 million and a strategic financing round of hundreds of millions of yuan.

IV. Profiles of Representative AI Concept Stocks

Company Name	Stock Code	Industry Position	Main Product Lines & Business Overview
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.
MONTAGETECH	06809.HK	Global memory interconnect chip leader & core supplier for AI computing interconnects	A world-leading fabless IC design company and the largest memory interconnect chip supplier globally by 2024 revenue, holding a 36.8% market share. Its main product portfolio includes interconnect ICs (DDR5 RCD, MRCD/MDB, PCIe Retimers, CXL MXC) and the Jintide server platform, widely deployed across data centers, servers, and AI infrastructure. Driven by AI inference and Agent workloads increasing CPU centrality, memory interconnect demand continues to expand. H1 2026 revenue is projected at ~RMB 3.335 billion (+26.6% YoY).
HUA HONG GRACE	01347.HK	Global leader in specialty process wafer foundry	A world‑leading specialty process wafer foundry, the company operates 8‑inch and 12‑inch production lines serving new energy vehicles, industrial control, and data center power management. It provides customized manufacturing in power devices, embedded non‑volatile memory, analog ICs, and power management chips, with multiple automotive‑grade certifications and sustained high capacity utilization.
HORIZONROBOT-W	09660.HK	China's leading intelligent driving computing solution provider and full‑stack vehicle intelligence enabler	Founded in 2015, it offers ADAS and high‑level autonomous driving solutions. Core products include the Journey-series in-car AI chips (cumulative shipments exceeding 10 million units), the HSD full‑scenario urban driving solution, and the "Starry 6P" cockpit‑driving integrated vehicle intelligence chip. In 2025, it held a 47.7% market share in domestic ADAS for independent brands, with full‑year revenue of RMB 3.758 billion, up 57.7% YoY.
Z.AI	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.

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