Hong Kong AI Concept Stock Daily：Large Models Mixed, AI Chip Sector and Intelligent Driving Direction Under Collective Pressure-20260902

NewTimeSpace · 2026/09/02 17:49 · By Jiayi Sun

On September 2, 2026, the three major Hong Kong indices trended lower amid volatility. The Hang Seng Index edged down 0.07%, the Hang Seng TECH Index fell 0.74%, and the Hang Seng China Enterprises Index edged down 0.15%.AI concept stocks diverged in performance on the day — large models were mixed, while the AI chip sector and the intelligent driving direction came under collective pressure.

I. Market Overview

On September 2, 2026, the three major Hong Kong indices trended lower amid volatility. The Hang Seng Index edged down 0.07%, the Hang Seng TECH Index fell 0.74%, and the Hang Seng China Enterprises Index edged down 0.15%. Full-day turnover of the Hang Seng Index reached HKD 216.7 billion, with southbound funds recording a net inflow of HKD 4.093 billion. AI concept stocks diverged in performance on the day — large models were mixed, while the AI chip sector and the intelligent driving direction came under collective pressure.

Large Model direction: MEITUAN-W (03690.HK) rose 2.74% against the trend, and MINIMAX-W (00100.HK) gained 1.72%. Z.AI (02513.HK) fell 5.26%, with ALIBABA-W, TENCENT, BIDU-SW, and KUAISHOU-W following lower.

AI Chip direction: BIREN TECH (06082.HK) fell 5.71%, ILUVATAR COREX dropped 3.11%, and HUA HONG GRACE, SMIC, GIGADEVICE, and Montage Technology followed lower.

Intelligent Driving direction: PONY-W (02026.HK) fell 6.47%, HORIZONROBOT-W (09660.HK) tumbled 6.31%, and BLACK SESAME, ROBOSENSE, and WERIDE-W followed lower.

Embodied Intelligence direction: UBTECH ROBOTICS (09880.HK) fell 2.88%, while XIAOMI-W (01810.HK) rose 1.81% against the trend.

II. Market Performance of Representative AI Stocks

Stock Code	Company Name	Closing Price (HKD)	Change(%)	Sector / Concept
03690.HK	MEITUAN-W	78.750	2.74	LLM
01810.HK	XIAOMI-W	28.060	1.81	Embodied AI
00100.HK	MINIMAX-W	342.600	1.72	LLM
09988.HK	BABA-SW	109.900	-0.45	LLM
03986.HK	GIGADEVICE	472.200	-0.67	AI Chips
06809.HK	MONTAGETECH	261.800	-0.68	AI Chips
00700.HK	TENCENT	438.200	-0.72	LLM
00981.HK	SMIC	68.250	-0.87	AI Chips
09888.HK	BIDU-SW	92.350	-1.44	LLM
00800.HK	WERIDE-W	14.930	-2.42	Autonomous Driving
01347.HK	HUA HONG GRACE	117.500	-2.81	AI Chips
09880.HK	UBTECH ROBOTICS	79.150	-2.88	Embodied AI
01024.HK	KUAISHOU-W	33.640	-2.89	LLM
09903.HK	ILUVATAR COREX	368.200	-3.11	AI Chips
02498.HK	ROBOSENSE	17.340	-3.67	Autonomous Driving
02513.HK	Z.AI	1,117.000	-5.26	LLM
02533.HK	BLACK SESAME	10.600	-5.61	Autonomous Driving
06082.HK	BIRENTECH	43.300	-5.71	AI Chips
09660.HK	HORIZONROBOT-W	4.305	-6.31	Autonomous Driving
02026.HK	PONY-W	52.800	-6.47	Autonomous Driving

Data Source: HKEX. For reference only, not investment advice. Data as of market close on September 2, 2026.

III. AI Industry & Corporate Developments

1. Google to Release Gemini 3.8 Flash AI Model This Wednesday

On September 1, it was reported that Google-C (GOOG.US) will release the Gemini 3.8 Flash AI model this Wednesday. In internal programming-tool testing, Google employees preferred using Gemini 3.8 Flash over Claude Opus. Google has stepped up its investment in the field of reinforcement learning.

2. Samsung Unveils Next-Generation Memory Strategy: HBM5 Performance Target Raised to Twice HBM4E

On September 1, it was reported that Samsung Electronics (005930.KR) plans to raise the performance of its next-generation high-bandwidth memory (HBM) HBM5 to twice that of HBM4E, while the subsequent-generation product zHBM targets a performance level reaching 8 times that of HBM4E. Samsung will center its efforts on 3D structural innovation to compete for dominance in the next-generation memory market.

3. Lei Jun: Xiaomi Pengcheng to Officially Launch on September 7

On September 2, it was reported that Lei Jun, founder, Chairman and CEO of Xiaomi, stated on Weibo that Xiaomi's autumn flagship new-product launch event is set for 7:00 PM on September 7, with the Xiaomi Pengcheng N70 Pro / N70 Max / N90 Max officially launching. Also unveiled at the same event are two additional flagship products: the all-new foldable flagship phone Xiaomi 18 Fold and the Xiaomi Pad 9 Pro Max, debuting the Xuanjie O3 AI flagship processor.

4. Tencent Hunyuan Launches Hy4 preview Lightweight Model

On September 1, it was reported that the Tencent Hunyuan team announced the launch of the Hy4 preview lightweight model, compressing Hy4 preview's weights from 1.5TB to approximately 214GB. According to the introduction, the compressed model's long-text comprehension is nearly on par with the original model; multi-turn long-context retrieval is essentially at the same level as the original, with only a slight decline in mathematics — all within an acceptable range overall. It covers daily coding assistance, tool calling, long-document processing, and general Q&A.

5. Alibaba Cloud Announces Price Cut for Qwen3-VL-Rerank Model

On September 1, it was reported that Alibaba Cloud announced that the large-model service platform Bailian will, starting from 10:13:53 on August 31, 2026 (Beijing time), lower the billing unit price for the Qwen3-VL-Rerank model in the Beijing region: text input will be reduced from RMB 0.7 per million tokens to RMB 0.5 per million tokens, and multimodal input from RMB 1.8 per million tokens to RMB 0.5 per million tokens.

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.
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.

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