Hong Kong AI Concept Stock Daily：MINIMAX-W Releases Multimodal Creation Agent Workbench, MINIMAX-W Up 6.16%-20260820

NewTimeSpace · 2026/08/20 17:48 · By Zeyu Wu

On August 20, 2026, the Hang Seng Index rose 0.80%, the Hang Seng TECH Index gained 0.39%, and the Hang Seng China Enterprises Index advanced 0.90%.AI concept stocks showed a divergent performance on the day: the large-model segment moved unevenly, the AI chip sector was mixed, and the intelligent-driving segment mostly strengthened.In the large-model segment, the "twin leaders" MINIMAX-W rose 6.16%; the company announced the launch of its multimodal creation Agent workbench, MiniMax Design. Z.AI rose 1.09%, with BIDU-SW, ALIBABA-W and others following the gains. MEITUAN-W fell 1.38%, and KUAISHOU-W tumbled more than 10% post-earnings.

I. Market Overview

On August 20, 2026, the three major Hong Kong stock indices strengthened collectively — the Hang Seng Index rose 0.80%, the Hang Seng TECH Index gained 0.39%, and the Hang Seng China Enterprises Index advanced 0.90%. The Hang Seng Index's total market turnover was HKD 269.1 billion, and southbound funds recorded a net outflow of HKD 10.412 billion. AI concept stocks showed a divergent performance on the day: the large-model segment moved unevenly, the AI chip sector was mixed, and the intelligent-driving segment mostly strengthened.

In the large-model segment, the "twin leaders" MINIMAX-W rose 6.16%; the company announced the launch of its multimodal creation Agent workbench, MiniMax Design. Z.AI rose 1.09%, with BIDU-SW, ALIBABA-W and others following the gains. MEITUAN-W fell 1.38%, and KUAISHOU-W tumbled more than 10% post-earnings.

In the AI chip segment, ILUVATAR COREX rose 3.80%, BIREN TECH gained 3.52%, MONTAGE TECHNOLOGY edged down 0.67%, while SMIC, GIGADEVICE, HUA HONG GRACE and others followed the declines.

In the intelligent-driving segment, PONY-W rose 3.33%, with its Q2 Robotaxi revenue surging more than 6.9x; WERIDE-W, ROBOSENSE and HORIZONROBOT-W followed the gains. BLACK SESAME fell 1.26%.

In the embodied-intelligence segment, UBTECH ROBOTICS (09880.HK) continued to weaken, down nearly 5%, while XIAOMI-W rose 1.17%.

II. Market Performance of Representative AI Stocks

Stock Code	Company Name	Closing Price (HKD)	Change(%)	Sector / Concept
00100.HK	MINIMAX-W	310.400	6.16	LLM
09903.HK	ILUVATAR COREX	382.000	3.80	AI Chips
06082.HK	BIRENTECH	35.320	3.52	AI Chips
02026.HK	PONY-W	60.550	3.33	Autonomous Driving
00800.HK	WERIDE-W	16.030	2.95	Autonomous Driving
09888.HK	BIDU-SW	92.150	2.45	LLM
02498.HK	ROBOSENSE	21.280	1.92	Autonomous Driving
09988.HK	BABA-SW	126.200	1.61	LLM
09660.HK	HORIZONROBOT-W	4.850	1.46	Autonomous Driving
01810.HK	XIAOMI-W	27.760	1.17	Embodied AI
02513.HK	Z.AI	1,023.000	1.09	LLM
00700.HK	TENCENT	451.400	0.94	LLM
06809.HK	MONTAGETECH	268.600	-0.67	AI Chips
00981.HK	SMIC	72.100	-1.23	AI Chips
02533.HK	BLACK SESAME	11.010	-1.26	Autonomous Driving
03986.HK	GIGADEVICE	490.200	-1.33	AI Chips
03690.HK	MEITUAN-W	85.850	-1.38	LLM
01347.HK	HUA HONG GRACE	111.900	-1.58	AI Chips
09880.HK	UBTECH ROBOTICS	81.250	-4.97	Embodied AI
01024.HK	KUAISHOU-W	33.640	-11.01	LLM

Data Source: HKEX. For reference only, not investment advice. Data as of market close on August 20, 2026.

III. AI Industry & Corporate Developments

1. PONY-W and global mobility platform Uber announced a further expansion of their strategic partnership

On August 20, Uber, VERNE and PONY-W launched autonomous-driving mobility services in Zagreb, Croatia, marking fresh progress in the overseas commercialization of Robotaxi operations. The two parties further expanded their strategic partnership and will deploy over 2,000 PONY-W Robotaxis across five European cities.

2. MINIMAX-W released the multimodal creation Agent workbench MiniMax Design

On August 20, per MINIMAX's official WeChat account, the company released the multimodal creation Agent workbench MiniMax Design. According to the introduction, MiniMax's native multimodal video model H3 provides the new capability foundation for MiniMax Design. It has validated MiniMax's model capabilities in multimodal understanding, video generation, video editing, and reference control, and is especially suited to scenarios such as VideoEditing that demand higher requirements for understanding, control, and modification.

3. Cerebras releases CS-4 AI accelerator, claiming inference speed up to 30x GPU solutions

On August 18 local time, Cerebras released its new-generation AI accelerator CS-4, claiming its inference speed can reach up to 30x that of GPU-based solutions. CS-4 adopts three new WSE-3 Turbo wafer-scale engines, delivering AI compute of 750 PFLOPS and memory bandwidth of 129.6 PB/s. Cerebras stated that in the GPT-OSS-120B test, CS-4 generates over 4,400 Tokens per second per user, reaching up to 30x GPU solutions; its throughput per watt is up to 10x that of CS-3, and it can support models with over 50 trillion parameters. CS-4 is expected to begin shipping in the third quarter of this year.

4. JD unveils robotics strategy, planning to invest tens of billions of resources by 2028

On August 19, JD announced its robotics strategy, anchored on three dimensions — supply chain, services, and technology — to accelerate the commercialization and scenario-based deployment of the robotics industry. Under the plan, by 2028 JD will invest tens of billions of resources in the robotics field, helping 100 brands achieve standalone sales of over RMB 1 billion.

5. KUAISHOU releases 2026 Q2 results announcement; Kling AI revenue up over 200% YoY

On August 19, KUAISHOU released its 2026 second-quarter results announcement. In Q2 this year, KUAISHOU achieved total revenue of RMB 35.535 billion. Among this, Kling AI revenue grew over 200% year-on-year. Against a backdrop of slowing overall growth, Kling AI directly lifted KUAISHOU's Q2 "other services revenue" item — which includes e-commerce.

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.
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.
ILUVATAR COREX	09903.HK	Domestic general-purpose GPU pioneer & builder of full-scenario AI compute bases	Established in 2015, it is among the earliest domestic vendors to achieve mass production of general-purpose GPUs. Product lines cover training, inference, and edge computing across the Tiangai, Zhikai, and Tongyang series. In July 2026, it launched its next-gen flagship Tiangai 300 at WAIC, matching the Nvidia Hopper architecture. As of late 2025, it served 340+ clients across 30+ industries, generating core GPGPU revenue of ~RMB 923 million (+149.6% YoY).
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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