Hong Kong AI Concept Stock Daily：XIAOMI Unveils XRING O100, a Large-Model-Dedicated AI Acceleration Chip, with AI Chip Concept Stocks Strengthening Across the Board -20260825

NewTimeSpace · 2026/08/25 17:50 · By Zeyu Wu

On August 25, 2026, The Hang Seng Index (HSI) edged down 0.02%, the Hang Seng TECH Index edged down 0.12%, and the Hang Seng China Enterprises Index fell 0.31%.The AI chip segment strengthened across the board, with MONTAGE TECHNOLOGY (06809.HK) up 4.96%, GIGADEVICE (03986.HK) up 4.93%, and BIREN TECH, ILUVATAR COREX, SMIC, and HUA HONG GRACE following the gains.

I. Market Overview

On August 25, 2026, the three major Hong Kong stock indices rose in early trade before pulling back, with AI concept stocks diverging that day and the chip theme rebounding across the board. The Hang Seng Index (HSI) edged down 0.02%, the Hang Seng TECH Index edged down 0.12%, and the Hang Seng China Enterprises Index fell 0.31%. The HSI's full-day total market turnover was HKD 254.1 billion, with southbound capital recording a net outflow of HKD 6.605 billion.

The large-model segment diverged markedly. The "two leaders," Z.AI (02513.HK) rose 5.16% and MINIMAX-W (00100.HK) fell 4.04%. ALIBABA-W, KUAISHOU-W, and ALIBABA-W followed the gains. BIDU-SW and MEITUAN-W followed the losses.

The AI chip segment strengthened across the board, with MONTAGE TECHNOLOGY (06809.HK) up 4.96%, GIGADEVICE (03986.HK) up 4.93%, and BIREN TECH, ILUVATAR COREX, SMIC, and HUA HONG GRACE following the gains.

The intelligent driving segment diverged, with ROBOSENSE (02498.HK) up 3.85%, and BLACK SESAME and HORIZONROBOT-W following the gains. PONY-W (02026.HK) fell 5.62% and WERIDE-W (00800.HK) fell 3.95%.

In the embodied intelligence segment, UBTECH ROBOTICS (09880.HK) rose 2.20% and XIAOMI-W (01810.HK) edged down 0.22%.

II. Market Performance of Representative AI Stocks

Stock Code	Company Name	Closing Price (HKD)	Change(%)	Sector / Concept
02513.HK	Z.AI	1,059.000	5.16	LLM
06809.HK	MONTAGETECH	262.400	4.96	AI Chips
03986.HK	GIGADEVICE	494.200	4.93	AI Chips
02498.HK	ROBOSENSE	18.590	3.85	Autonomous Driving
06082.HK	BIRENTECH	35.680	2.71	AI Chips
09903.HK	ILUVATAR COREX	370.000	2.49	AI Chips
09880.HK	UBTECH ROBOTICS	81.400	2.20	Embodied AI
02533.HK	BLACK SESAME	10.600	2.12	Autonomous Driving
00981.HK	SMIC	67.850	1.65	AI Chips
09988.HK	BABA-SW	114.200	1.51	LLM
01347.HK	HUA HONG GRACE	110.400	1.47	AI Chips
01024.HK	KUAISHOU-W	33.260	0.73	LLM
09660.HK	HORIZONROBOT-W	4.770	0.53	Autonomous Driving
00700.HK	TENCENT	442.000	0.45	LLM
09888.HK	BIDU-SW	89.750	0.06	LLM
01810.HK	XIAOMI-W	27.760	-0.22	Embodied AI
00800.HK	WERIDE-W	15.800	-3.95	Autonomous Driving
00100.HK	MINIMAX-W	299.600	-4.04	LLM
02026.HK	PONY-W	57.950	-5.62	Autonomous Driving
03690.HK	MEITUAN-W	77.200	-6.65	LLM

Data Source: HKEX. For reference only, not investment advice. Data as of market close on August 25, 2026.

III. AI Industry & Corporate Developments

1. XIAOMI Unveils XRING O100, a Large-Model-Dedicated AI Acceleration Chip

On August 24, at XIAOMI's XRING chip technology briefing, XIAOMI officially launched the XRING O100, a large-model-dedicated AI acceleration chip, adopting a 6nm 3D wafer-level stacking solution with bandwidth of 1.22 TB/s. In terms of architecture, the XRING O100 adopts a near-memory AI computing architecture, paired with the XRING high-bandwidth matrix bus, supporting multi-core parallel computing; running the Xiaomi MiMo 3B model, it achieves an inference speed of 330 Tokens/s.

2. XPENG's Robotics Business Secures Over USD 900 Million in First Funding Round, Setting Industry Record for Single Private Equity Round

On August 24, XPENG GROUP announced that its humanoid robotics business has signed equity financing agreements with multiple investors. This round is the first financing for XPENG's robotics business, with an amount exceeding USD 900 million and a post-money valuation exceeding USD 6.3 billion, setting a record for a single private equity financing round in China's embodied intelligence industry. The proceeds from this round will accelerate the mass production of XPENG IRON and the R&D iteration of XPENG's physical AI models, advancing the commercialization of advanced general-purpose humanoid robots.

3. TRAE and Coze Integrated into Doubao; ByteDance to Launch Unified Office Brand "Doubao Work"

On August 25, ByteDance completed a round of team consolidation for its office AI products. The TRAE and Coze teams will be wholly integrated into the Doubao system, with TRAE Work and Coze integrating their product capabilities with Doubao in work-scenario applications; TRAE IDE and CLI will continue to develop as the programming product line under the Doubao brand. Following this adjustment, ByteDance further clarified Doubao's positioning as its core AI business, concentrating the focus of its AI office products on Doubao.

4. Shanghai Issues the "Shanghai 15th Five-Year Plan for Accelerating New Industrialization and Building a Modernized Industrial System"

On August 24, the Shanghai Municipal People's Government issued the "Shanghai 15th Five-Year Plan for Accelerating New Industrialization and Building a Modernized Industrial System." It states that high-performance computing chips, general-purpose processor chips, memory chips, interconnect chips, and smart sensors should reach internationally advanced levels. It also calls for comprehensively enhancing intelligent computing capabilities and tackling high-performance, low-power, and high-efficiency intelligent computing (AI) chips, among others.

IV. Profiles of Representative AI Concept Stocks

Company Name	Stock Code	Industry Position	Main Product Lines & Business Overview
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).
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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