Hong Kong AI Concept Stock Daily：Tencent Hunyuan Hy4 Preview Call Volume Surges; Most AI Concept Stocks Weaken-20260901

NewTimeSpace · 2026/09/01 17:48 · By Boyuan Chen

On September 1, 2026, the three major Hong Kong stock indexes all closed lower. AI concept stocks showed divergent performance on the day, with most weakening, while the chip theme declined across the board. The Hang Seng Index fell 0.93%, the Hang Seng TECH Index fell 1.49%, and the Hang Seng China Enterprises Index fell 0.59%. The intelligent driving space saw divergent moves, with BLACK SESAME (02533.HK) — whose first-half results surged — rising 13.21%, and PONY-W following higher. HORIZONROBOT-W (09660.HK) fell 2.65%, while WERIDE-W and ROBOSENSE followed lower.

I. Market Overview

On September 1, 2026, the three major Hong Kong stock indexes all closed lower. AI concept stocks showed divergent performance on the day, with most weakening, while the chip theme declined across the board. The Hang Seng Index fell 0.93%, the Hang Seng TECH Index fell 1.49%, and the Hang Seng China Enterprises Index fell 0.59%. Total market turnover was HKD 238.7 billion, with southbound funds recording net inflows of HKD 7.757 billion.

In the large-model space, KUAISHOU-W (01024.HK) received an investment from the National Artificial Intelligence Fund and rose 3.16% against the market, while MINIMAX-W (00100.HK) fell 3.50%; Z.AI, ALIBABA-W, TENCENT, BIDU-SW, and MEITUAN-W followed lower.

AI chips declined across the board, with SMIC (00981.HK) falling 2.69%, while HUA HONG GRACE, ILUVATAR COREX, MONTAGE TECHNOLOGY, GIGADEVICE, and BIREN TECH followed lower.

The intelligent driving space saw divergent moves, with BLACK SESAME (02533.HK) — whose first-half results surged — rising 13.21%, and PONY-W following higher. HORIZONROBOT-W (09660.HK) fell 2.65%, while WERIDE-W and ROBOSENSE followed lower.

In the embodied intelligence space, UBTECH ROBOTICS (09880.HK) fell 3.89%, and XIAOMI-W (01810.HK) dipped slightly by 0.22%.

II. Market Performance of Representative AI Stocks

Stock Code	Company Name	Closing Price (HKD)	Change(%)	Sector / Concept
02533.HK	BLACK SESAME	11.230	13.21	Autonomous Driving
01024.HK	KUAISHOU-W	34.640	3.16	LLM
02026.HK	PONY-W	56.450	0.98	Autonomous Driving
01810.HK	XIAOMI-W	27.560	-0.22	Embodied AI
02498.HK	ROBOSENSE	18.000	-0.33	Autonomous Driving
00800.HK	WERIDE-W	15.300	-0.46	Autonomous Driving
02513.HK	Z.AI	1,179.000	-1.34	LLM
06082.HK	BIRENTECH	45.920	-1.50	AI Chips
01347.HK	HUA HONG GRACE	120.900	-1.71	AI Chips
06809.HK	MONTAGETECH	263.600	-2.01	AI Chips
09903.HK	ILUVATAR COREX	380.000	-2.11	AI Chips
03986.HK	GIGADEVICE	475.400	-2.22	AI Chips
00700.HK	TENCENT	441.400	-2.56	LLM
09888.HK	BIDU-SW	93.700	-2.60	LLM
09660.HK	HORIZONROBOT-W	4.595	-2.65	Autonomous Driving
00981.HK	SMIC	68.850	-2.69	AI Chips
03690.HK	MEITUAN-W	76.650	-2.85	LLM
09988.HK	BABA-SW	110.400	-3.33	LLM
00100.HK	MINIMAX-W	336.800	-3.50	LLM
09880.HK	UBTECH ROBOTICS	81.500	-3.89	Embodied AI

Data Source: HKEX. For reference only, not investment advice. Data as of market close on September 1, 2026.

III. AI Industry & Corporate Developments

1. Z.AI's First-Half Total Revenue Reaches RMB 954 Million, Up 399.7% Year-on-Year

Z.AI (02513.HK) financial results show that total revenue for the first half of 2026 was RMB 954 million, up 399.7% year-on-year. Its business focus shifted from on-premise deployment to cloud-based MaaS, with the API revenue share rising to 86.5% and gross margin turning positive from negative to 24.6%. Token call volume grew more than 40-fold, while the average API price increased 101%. The company recorded a net loss of RMB 2.072 billion, with R&D investment reaching RMB 2.131 billion.

2. SK Hynix Considers Joint-Venture Plant in Japan to Meet AI Storage Demand

According to news on August 31, South Korea's SK Hynix is studying the feasibility of building a memory chip plant in Japan as a joint venture, to cope with the growth in storage demand driven by the artificial intelligence (AI) boom while keeping production costs under control. SK Group Chairman Chey Tae-won said the company is searching for suitable sites across Japan, with the primary consideration being "ample electricity and water resources," but did not disclose potential partners or specific locations.

3. Tencent Hunyuan Hy4 Preview Call Volume Surges; WorkBuddy Has Carried Out Emergency Capacity Expansion

On August 31, Tencent Hunyuan posted that since Hunyuan Hy4 preview was first integrated and launched on WorkBuddy on August 28, 2026, its markedly improved agent capabilities have drawn active trial and enthusiastic feedback from a wide range of users and developers, and queuing appeared in the WorkBuddy task queue on its very first day online, for which it apologized sincerely. To safeguard the user experience, the company has carried out emergency capacity expansion for the Hy4 preview inference cluster and will continue to allocate resources dynamically. However, constrained by total high-end computing capacity and concentrated peak concurrency, it does not rule out queuing continuing during certain periods.

4. OpenAI Reportedly Purchases Tens of Thousands of Apple Macs for AI Training

According to news on August 31, OpenAI has procured tens of thousands of Apple Mac mini and Mac Studio units, dedicated to reinforcement learning training and the development of computer-operation AI agents. All the Mac mini and Mac Studio units OpenAI purchased come without monitors or keyboards, rather than MacBooks, and it has repeatedly asked Apple to expedite delivery amid strong demand. Apple's M-series chips adopt a unified memory architecture that lets the CPU, GPU, and others share the same memory pool, reducing the performance loss from data transfer during AI training. Unified memory capacity in some high-end chips reaches up to 512GB, and the thermal design of the Mac mini and Mac Studio is also better suited to running training tasks over extended periods.

IV. Profiles of Representative AI Concept Stocks

Company Name	Stock Code	Industry Position	Main Product Lines & Business Overview
KUAISHOU-W	01024.HK	A leading multimodal content generation platform in China	Kling AI has completed independent financing with a total cap of USD 3 billion, at a post-money valuation of USD 18 billion, setting a global record for video foundation model companies, with plans to initiate a Hong Kong IPO within the next 12 months. Kling AI's quarterly revenue has exceeded 650 million RMB, with an Annualized Run Rate (ARR) of nearly USD 500 million. Its general LLM “KwaiYii” and video generation model “Kling” are undergoing continuous iteration, demonstrating high commercial conversion efficiency in scenarios such as e-commerce live streaming and automated marketing.
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).
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.
BLACK SESAME	02533.HK	Leading provider of automotive‑grade computing SoCs and SoC‑based solutions for intelligent vehicles	Founded in 2016 and listed on the HKEX in 2024 as the “first smart car AI chip stock”, the company offers the Huashan series (assisted driving) and Wudang series (cross‑domain computing). Huashan A1000 has been integrated into models from Geely, BYD and others; Wudang C1200 advanced to mass production in 2025; Huashan A2000 is the world's first 7nm panoramic high‑compute chip. 2025 revenue reached RMB 822 million, up 73.4% YoY.

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