Hong Kong AI Concept Stock Daily: MONTAGETECH Leads with an 8.10% Gain as the 2026 Apsara Conference Opens with the Debut of Domestic AI Chip Zhenwu V900 - 20260922

NewTimeSpace · 2026/09/22 17:27 · By Zeyu Wu

Hong Kong stocks closed slightly higher on September 22, with the HSI up 0.18%. MONTAGETECH led AI concept stocks with an 8.10% gain, while Z.AI fell 6.55%.

Key Highlights:

The HSI rose 0.18%, the HSTECH rose 0.34% and the HSCEI rose 0.28%; full-day turnover reached HKD 249.2 billion, with southbound net buying exceeding HKD 7 billion intraday.
MONTAGETECH rose 8.10%, WERIDE-W rose 5.31%, TENCENT rose 5.02%, ILUVATAR COREX rose 3.18% and PONY-W rose 2.50%; Z.AI fell 6.55%.
The Apsara Conference opened with T-Head's Zhenwu V900 release and a 20GW data center target for 2032; Z.AI's GLM-5.3-Flash topped OpenRouter's daily ranking; Meta's Muse agent drove a CPU demand re-rating; WERIDE-W secured Spain's first L4 passenger vehicle permit.

I. Market Overview

On September 22, 2026, the three major Hong Kong indices closed slightly higher, with the Hang Seng Index up 0.18% at 25,087.75, the Hang Seng TECH Index up 0.34% at 4,438.21 and the Hang Seng China Enterprises Index up 0.28% at 8,362.60. Full-day turnover on the Hang Seng Index reached HKD 249.2 billion, a clear expansion from the previous trading day. Southbound funds continued to record net buying, with net purchases exceeding HKD 7 billion intraday, marking the 12th consecutive trading day of net buying since September 7. AI concept stocks diverged, with AI chips and autonomous driving broadly stronger while most LLM names pulled back.

In the LLM space, TENCENT (00700.HK) rose 5.02%, BABA-W (09988.HK) rose 1.95%, KUAISHOU-W (01024.HK) rose 1.30% and BIDU-W (09888.HK) rose 0.56%; MEITUAN-W (03690.HK) fell 1.08%, MINIMAX-W (00100.HK) fell 3.89% and Z.AI (02513.HK) fell 6.55%. The 2026 Apsara Conference opened in Hangzhou the same day, where Alibaba presented full-stack progress spanning chips, models and cloud infrastructure.

In the AI Chips space, MONTAGETECH (06809.HK) rose 8.10%, the top gainer among AI concept stocks; ILUVATAR COREX (09903.HK) rose 3.18%, BIRENTECH (06082.HK) rose 0.75% and GIGADEVICE (03986.HK) rose 0.49%; HUA HONG GRACE (01347.HK) fell 1.47% and SMIC (00981.HK) fell 1.98%. Memory and memory interconnect names were lifted by a re-rating of computing demand from agent adoption, with MONTAGETECH rising more than 14% intraday.

In the Autonomous Driving space, WERIDE-W (00800.HK) rose 5.31% and PONY-W (02026.HK) rose 2.50%, while ROBOSENSE (02498.HK) slipped 0.06%, BLACK SESAME (02533.HK) fell 2.73% and HORIZONROBOT-W (09660.HK) fell 3.88%.

In the Embodied AI space, UBTECH ROBOTICS (09880.HK) fell 0.44% and XIAOMI-W (01810.HK) fell 1.38%.

II. Market Performance of Representative AI Stocks

Stock Code	Company Name	Closing Price (HKD)	Change(%)	Sector / Concept
06809.HK	MONTAGETECH	309.600	8.10	AI Chips
00800.HK	WERIDE-W	15.260	5.31	Autonomous Driving
00700.HK	TENCENT	451.600	5.02	LLM
09903.HK	ILUVATAR COREX	139.400	3.18	AI Chips
02026.HK	PONY-W	53.300	2.50	Autonomous Driving
09988.HK	BABA-W	114.800	1.95	LLM
01024.HK	KUAISHOU-W	31.220	1.30	LLM
06082.HK	BIRENTECH	42.900	0.75	AI Chips
09888.HK	BIDU-W	89.500	0.56	LLM
03986.HK	GIGADEVICE	516.000	0.49	AI Chips
02498.HK	ROBOSENSE	16.910	-0.06	Autonomous Driving
09880.HK	UBTECH ROBOTICS	80.000	-0.44	Embodied AI
03690.HK	MEITUAN-W	73.200	-1.08	LLM
01810.HK	XIAOMI-W	27.200	-1.38	Embodied AI
01347.HK	HUA HONG GRACE	113.800	-1.47	AI Chips
00981.HK	SMIC	64.300	-1.98	AI Chips
02533.HK	BLACK SESAME	10.340	-2.73	Autonomous Driving
09660.HK	HORIZONROBOT-W	4.090	-3.88	Autonomous Driving
00100.HK	MINIMAX-W	286.400	-3.89	LLM
02513.HK	Z.AI	742.000	-6.55	LLM

Data Source: HKEX. For reference only, not investment advice. Data as of market close on September 22, 2026.

III. AI Industry & Corporate Developments

1. Apsara Conference Opens: T-Head Releases Next-Gen AI Chip Zhenwu V900, Alibaba Cloud Targets over 20GW of Data Center Capacity by 2032

The 2026 Apsara Conference opened in Hangzhou on September 22. Alibaba Group CEO Eddie Wu said AI models, AI chips and AI cloud are the three cornerstones of the machine intelligence era, and the company will invest fully in AI infrastructure, targeting more than 20GW of Alibaba Cloud-operated global data center capacity by 2032. On the chip side, T-Head released the next-generation domestic AI chip Zhenwu V900, delivering three times the computing power of the previous-generation Zhenwu M890, with clusters built on the chip scalable to up to 500,000 cards. On the model side, Qwen4 based on a next-generation architecture has entered training, with later versions to scale to 5-10 trillion parameters. On infrastructure, Alibaba unveiled a newly upgraded supernode server achieving system-level coordination across computing, storage and networking.

2. Z.AI's GLM-5.3-Flash Tops OpenRouter Daily Ranking with a 73% Jump in Daily Calls

According to the latest OpenRouter daily ranking on September 22, GLM-5.3-Flash from Z.AI (02513.HK) recorded 4.36 trillion tokens in daily calls, up 73% from the previous period and ranking first among models on the platform. Another model, GLM-5.3, ranked ninth with 524 billion tokens, up 70%. Aggregated by tokens across listed models, Z.AI surpassed DeepSeek, Tencent and OpenAI to become the platform's highest-traffic model vendor for the day.

3. Meta's AI Agent Muse Tops US Free App Chart for Three Straight Days, Driving a Re-Rating of CPU and Memory Interconnect Demand

Meta's consumer AI agent Muse, launched in early September, has held the top spot on the US iPhone free app download chart for three consecutive days after first reaching No.1 last week. Unlike a chatbot, Muse can read social connections and connect to APIs for email, calendars and shopping to execute cross-application tasks directly, prompting the market to reassess CPU demand from the scaled adoption of agents. Hong Kong memory and semiconductor names mostly advanced, with MONTAGETECH (06809.HK) up 8.10% and ILUVATAR COREX (09903.HK) up 3.18%.

4. Autonomous Driving Commercialization Accelerates as Regulatory Frameworks and Overseas Permits Advance in Parallel

Media reports on September 22 highlighted that autonomous driving is accelerating from technical validation toward scaled application. On overseas permits, WERIDE-W (00800.HK) recently obtained Spain's first L4 autonomous passenger vehicle operation permit together with Uber and AVOMO, allowing vehicle deployment on public roads in Madrid with commercial Robotaxi services expected to launch within 2026; it is also the first national-level permit obtained by the company's Robotaxi GXR in the EU. PONY-W (02026.HK) has advanced fully driverless testing in Doha and Zagreb. Domestically, the 15th Five-Year Plan for the intelligent connected new energy vehicle industry was issued in September, mandatory national standards for L3 and L4 vehicles were approved, and the Road Traffic Safety Law established a dedicated chapter on autonomous driving for the first time.

5. Computing Power Rental Prices Keep Rising; Institutions Focus on Earnings Delivery in Compute Infrastructure

Computing power rental prices continued to rise on September 22. Zheshang Securities noted that overseas computing service provider Nebius raised prices for the second time this year, with H100 rental rates up 17% to 21%, while contract values at related domestic companies have also risen markedly, reflecting a tightening supply-demand balance. Coupled with continued computing procurement and financing by large model vendors such as Anthropic and Z.AI, and with the third-quarter delivery verification period approaching, earnings delivery in the compute infrastructure sector has drawn market attention.

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).
WERIDE-W	00800.HK	The world's only L4 cross-scenario autonomous driving platform holding permits across seven countries	Holds autonomous driving permits across China, the UAE, Singapore, France, Saudi Arabia, Belgium, and the US. Built upon the proprietary WeRide One platform, the company covers smart mobility, logistics, and sanitation across five core product lines: Robotaxis, Robobuses, Robosweepers, Robovans, and Advanced Driving Assistance Systems (ADAS). Operations cover over 30 cities across 11 countries, supported by an L4 fleet exceeding 1,500 vehicles.
TENCENT	00700.HK	An Internet tech giant with a national-scale application ecosystem and the platform provider with the broadest LLM implementation scenarios in China	The Hunyuan LLM ranks highly in evaluations on third-party platforms such as OpenRouter. The model continues to deepen its integration into national-level social applications, Tencent Meeting, and the cloud-based collaborative office ecosystem. Backed by a massive MAU base and the Tencent Cloud intelligent computing service system, the company is accelerating the delivery of AI solutions to B2B clients in government and finance, continuously expanding enterprise-level application scenarios.
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.

Summary:

Hong Kong stocks closed slightly higher on September 22, with the HSI up 0.18%. MONTAGETECH led AI concept stocks with an 8.10% gain, while Z.AI fell 6.55%.

Key Takeaways:

● Market & Funds: The HSI rose 0.18%, the HSTECH rose 0.34% and the HSCEI rose 0.28%; full-day turnover reached HKD 249.2 billion, with southbound net buying exceeding HKD 7 billion intraday.

● Top movers: MONTAGETECH rose 8.10%, WERIDE-W rose 5.31%, TENCENT rose 5.02%, ILUVATAR COREX rose 3.18% and PONY-W rose 2.50%; Z.AI fell 6.55%.

● Industry: The Apsara Conference opened with T-Head's Zhenwu V900 release and a 20GW data center target for 2032; Z.AI's GLM-5.3-Flash topped OpenRouter's daily ranking; Meta's Muse agent drove a CPU demand re-rating; WERIDE-W secured Spain's first L4 passenger vehicle permit.

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