Hong Kong AI Concept Stock Daily: BABA-W Rises 2.26% as Apple Intelligence Integrates Alibaba Qwen - 20261016

NewTimeSpace · 2026/10/16 17:32 · By Jiayi Sun

On October 16, 2026, the HSTECH rose 1.16% and the HSI gained 0.52%. MONTAGETECH led AI concept stocks with a 4.55% gain, while HUA HONG GRACE fell 2.09%.

Key Highlights:

The HSTECH rose 1.16%, having gained as much as 2.4% intraday, while the HSI rose 0.52% and the HSCEI rose 0.31%; full-day turnover on the HSI reached HKD 178.2 billion, down sharply from a day earlier.
MONTAGETECH led with a 4.55% gain, BLACK SESAME rose 3.55%, WERIDE-W rose 3.40% and UBTECH ROBOTICS rose 3.03%; HUA HONG GRACE fell 2.09%, XIAOMI-W fell 1.55% and ILUVATAR COREX fell 1.07%; all five autonomous driving names closed higher.
Apple Intelligence integrated Alibaba Qwen with a mainland China test version due by end-October; Kuaishou's Kling AI fully launched the Kling 4.0 video generation model; memory demand spread from HBM to DDR5 as MONTAGETECH interconnect chip revenue climbed; XIAOMI open-sourced the MiDashengLM-Spatial spatial audio model.

I. Market Overview

On October 16, 2026, the three major Hong Kong indices opened higher and rallied before paring gains in the afternoon. The Hang Seng TECH Index rose 1.16% to 4,108.24, having gained as much as 2.4% during the session; the Hang Seng Index rose 0.52% to 24,186.83; and the Hang Seng China Enterprises Index rose 0.31% to 8,128.25. Full-day turnover on the Hang Seng Index reached HKD 178.2 billion, down sharply from HKD 224.2 billion a day earlier. AI concept stocks gained broadly, with 16 of the 20 names closing higher; AI chips, LLM and autonomous driving names recovered across the board.

In the LLM space, KUAISHOU-W (01024.HK) rose 2.52%, BABA-W (09988.HK) rose 2.26%, MINIMAX-W (00100.HK) rose 1.45%, BIDU-W (09888.HK) rose 1.40%, Z.AI (02513.HK) rose 0.88%, MEITUAN-W (03690.HK) rose 0.33% and TENCENT (00700.HK) closed flat.

In the AI Chips space, performance diverged: MONTAGETECH (06809.HK) rose 4.55%, the top gainer among AI concept stocks; GIGADEVICE (03986.HK) rose 1.25%, BIRENTECH (06082.HK) rose 0.56% and SMIC (00981.HK) rose 0.48%, while ILUVATAR COREX (09903.HK) fell 1.07% and HUA HONG GRACE (01347.HK) fell 2.09%, the worst performer among AI concept stocks.

In the Autonomous Driving space, BLACK SESAME (02533.HK) rose 3.55%, WERIDE-W (00800.HK) rose 3.40%, HORIZONROBOT-W (09660.HK) rose 2.35%, PONY-W (02026.HK) rose 1.58% and ROBOSENSE (02498.HK) rose 1.23%, with all five names in the space closing higher.

In the Embodied AI space, UBTECH ROBOTICS (09880.HK) rose 3.03%, while XIAOMI-W (01810.HK) fell 1.55%.

II. Market Performance of Representative AI Stocks

Stock Code	Company Name	Closing Price (HKD)	Change(%)	Sector / Concept
06809.HK	MONTAGETECH	211.200	4.55	AI Chips
02533.HK	BLACK SESAME	8.160	3.55	Autonomous Driving
00800.HK	WERIDE-W	11.240	3.40	Autonomous Driving
09880.HK	UBTECH ROBOTICS	64.550	3.03	Embodied AI
01024.HK	KUAISHOU-W	29.300	2.52	LLM
09660.HK	HORIZONROBOT-W	3.920	2.35	Autonomous Driving
09988.HK	BABA-W	108.800	2.26	LLM
02026.HK	PONY-W	39.920	1.58	Autonomous Driving
00100.HK	MINIMAX-W	182.100	1.45	LLM
09888.HK	BIDU-W	79.450	1.40	LLM
03986.HK	GIGADEVICE	339.200	1.25	AI Chips
02498.HK	ROBOSENSE	14.780	1.23	Autonomous Driving
02513.HK	Z.AI	518.000	0.88	LLM
06082.HK	BIRENTECH	25.120	0.56	AI Chips
00981.HK	SMIC	52.400	0.48	AI Chips
03690.HK	MEITUAN-W	75.700	0.33	LLM
00700.HK	TENCENT	417.800	0.00	LLM
09903.HK	ILUVATAR COREX	78.950	-1.07	AI Chips
01810.HK	XIAOMI-W	26.660	-1.55	Embodied AI
01347.HK	HUA HONG GRACE	74.950	-2.09	AI Chips

Data Source: HKEX. For reference only, not investment advice. Data as of market close on October 16, 2026.

III. AI Industry & Corporate Developments

1. Apple Intelligence Integrates Alibaba Qwen, with a Test Version Due in Mainland China by End-October

On October 15, Apple executive chairman Tim Cook said in Shanghai that Apple Intelligence and the integrated Alibaba Qwen large model have been approved and will be released as a test version for mainland Chinese users by late October, covering real-time translation, writing tools and a photo cleanup tool in the first batch, but excluding Siri AI. Public reports said the mainland version combines on-device computing with domestic cloud-based models and covers phones, tablets, computers and headsets, with the full release to follow a system update; the related model filings involve Tongyi Qianwen and Tongyi Wanxiang.

2. Kuaishou Kling AI Fully Launches the Kling 4.0 Video Generation Model

On the evening of October 15, Kuaishou's Kling AI announced the full launch of its Kling 4.0 video generation model, with API services for enterprise clients and developers to open shortly. The company said the new version makes breakthroughs in narrative continuity and professional specifications. Kling AI has completed independent financing of up to USD 3 billion at a post-money valuation of USD 18 billion and plans to initiate a Hong Kong listing within the next 12 months.

3. Memory Demand Spreads from HBM to DDR5 as MONTAGETECH Interconnect Chip Revenue Climbs

Industry data show that AI server memory demand is no longer confined to HBM. As model parameters, inference calls and context lengths grow, demand is spreading from HBM to DDR5, enterprise SSDs and high-capacity QLC products. MONTAGETECH (06809.HK) has benefited from rising DDR5 penetration and generational iteration, with revenue from new interconnect chip products such as MRCD/MDB and PCIe Retimers climbing significantly; the company disclosed that its first-half 2026 net profit attributable to shareholders is expected to reach RMB 1.90 billion to RMB 2.10 billion, up 63.9% to 81.2% year on year. Hong Kong memory and semiconductor names ended their losing streak on the day, with MONTAGETECH halting a seven-session decline.

4. XIAOMI Open-sources MiDashengLM-Spatial, an End-to-end Spatial Audio Understanding Model

On October 15, XIAOMI-W (01810.HK) announced the full open-sourcing of MiDashengLM-Spatial. According to the company, the model is the industry's first open-source end-to-end spatial audio understanding model, adding spatial perception and reasoning to basic audio understanding. It will be applied across smart home and car cockpit scenarios to enhance interaction within the Human x Car x Home ecosystem.

5. Z.AI and MiniMax Push Ahead with Their A-share Listing Processes

Large model companies continue to advance their listing plans. According to China's securities regulator, CITIC Securities has published a progress report on its pre-listing tutoring for MiniMax Group Inc., indicating the company's A-share listing process has entered its second half. Z.AI (02513.HK), already listed in Hong Kong, previously disclosed that its pre-listing tutoring for a Shanghai STAR Market listing has been completed, with plans to raise no more than RMB 15 billion.

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).
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.
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.
UBTECH ROBOTICS	09880.HK	The purest humanoid robot stock in Hong Kong	The company focuses on humanoid robot R&D, full stack motion control algorithms, and commercial deployment across industrial and logistics scenarios. Its flagship Walker S series has been integrated into assembly lines of leading new energy vehicle manufacturers for parts handling, precision assembly, and intelligent quality inspection, pioneering the transition from lab prototypes to industrial automation at scale.
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.

Tags：

NewTimeSpace MONTAGETECH BLACK SESAME