Hong Kong AI Concept Stock Daily: BIRENTECH Leads Declines with a 10.56% Drop as Meta's Results and Lam Research's Outlook Deepen AI Spending Concerns - 20261022

I. Market Overview

On October 22, 2026, the three major Hong Kong indices opened lower and extended losses, with the opening level marking the intraday high for all three. The Hang Seng Index opened at 23,513.79, down 0.58%, then slid to a low of 22,879.11 and closed at 22,934.68, down 3.03% and below the 23,000 mark; the Hang Seng TECH Index opened at 3,949.02, down 1.15%, hit a low of 3,781.15 and closed at 3,793.93, down 5.03%, breaking through both the 3,900 and 3,800 levels; and the Hang Seng China Enterprises Index opened at 7,887.51, down 0.70%, and closed at 7,689.19, down 3.20%. Full-day turnover on the Hang Seng Index reached HKD 256.1 billion, sharply higher than HKD 176.6 billion a day earlier. All 20 AI concept stocks closed lower, with LLM and embodied AI names falling the least and AI chips and autonomous driving falling the most.

In the LLM space, TENCENT (00700.HK) fell 2.89%, BIDU-W (09888.HK) fell 3.35%, KUAISHOU-W (01024.HK) fell 4.49%, MEITUAN-W (03690.HK) fell 4.55%, BABA-W (09988.HK) fell 6.12%, MINIMAX-W (00100.HK) fell 6.52% and Z.AI (02513.HK) fell 7.10%.

In the AI Chips space, MONTAGETECH (06809.HK) fell 5.79%, SMIC (00981.HK) fell 6.25%, GIGADEVICE (03986.HK) fell 7.88%, ILUVATAR COREX (09903.HK) fell 8.80%, HUA HONG GRACE (01347.HK) fell 9.46% and BIRENTECH (06082.HK) fell 10.56%, the worst performer in the pool.

In the Autonomous Driving space, WERIDE-W (00800.HK) fell 5.67%, BLACK SESAME (02533.HK) fell 6.79%, PONY-W (02026.HK) fell 7.56%, HORIZONROBOT-W (09660.HK) fell 8.50% and ROBOSENSE (02498.HK) fell 8.54%.

In the Embodied AI space, both names declined: XIAOMI-W (01810.HK) fell 3.73% and UBTECH ROBOTICS (09880.HK) fell 5.12%.

II. Market Performance of Representative AI Stocks

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

III. AI Industry & Corporate Developments

1. Meta Results and Lam Research Outlook Deepen AI Spending Concerns as Asia Pacific Semiconductor Shares Sell Off

After the US close on October 21, Meta and semiconductor equipment maker Lam Research reported quarterly results. Meta's earnings triggered concern over the payback on artificial intelligence investment, while Lam Research's guidance failed to restore confidence. On October 22, AI and semiconductor-related shares across Asia Pacific were sold off heavily: the Nikkei 225 closed down 2.65% at its lowest since July 31, the TOPIX fell 1.14%, and heavyweights such as Tokyo Electron and SoftBank Group dropped sharply. Overnight, the Nasdaq Golden Dragon China Index closed down 2.35%, a direct drag on Hong Kong technology names. In Hong Kong, memory semiconductors, optical communications and PCB concept stocks led the decline, and the Hang Seng Information Technology Index opened down 1.38%, the weakest of the 12 Hang Seng industry indices.

2. TrendForce Sees Q4 DRAM Contract Prices Up About 20% QoQ as the Memory Upcycle Extends at a Slower Pace

On October 21, market research firm TrendForce estimated that DRAM contract prices will rise about 20% quarter on quarter in the fourth quarter of 2026. The pace is markedly slower than the roughly 80% seen in the second quarter and 40% in the third, yet DRAM prices remain at high levels, with tight supply and strong demand persisting. Expanding AI inference demand is the main driver of the upcycle, while a high base from earlier price increases, softer end-market purchasing power and the gradual activation of price caps in some long-term procurement agreements are together capping further gains. The durability of the memory and memory interface upcycle remains a core variable for the AI chip space.

3. HUA HONG GRACE Completes the Huali Microelectronics Acquisition as 12-inch Specialty Capacity Expands

HUA HONG GRACE (01347.HK) acquired a 97.4988% stake in Shanghai Huali Microelectronics from four counterparties including Hua Hong Group through a share issuance. The transfer of the equity and the registration of the new shares have been completed, making Huali Microelectronics a wholly owned subsidiary, and its transactions with related parties during 2026 are included in the company's estimated daily related-party transaction quota from the completion date. On capacity, the company and its wholly owned subsidiary Shanghai Hua Hong Grace, together with Wuxi Xihong Guoxin Phase II, Huaxin Dingxin and the CDB new policy-based financial instrument, injected RMB 28.278 billion into Wuxi Hua Hong Grace Phase III Semiconductor to build 12-inch specialty process lines with monthly capacity of about 55,000 wafers. In the first half of 2026, revenue reached RMB 9.574 billion, up 19.41% year on year, and shipments rose 17.9% year on year, both record highs.

4. Xiaomi MiMo 2.6 Enters the Global Top Tier as Hard-Tech R&D Spending Is Guided Above RMB 200 Billion Over Five Years

On October 21, Lei Jun, founder of XIAOMI-W (01810.HK), said at the 2026 World Intelligent Connected Vehicle Conference that the company has built the world's largest consumer IoT platform, with more than 1.1 billion connected IoT devices as of the end of the second quarter. R&D spending on underlying technologies including chips, operating systems, artificial intelligence and embodied intelligence reached RMB 105.5 billion over the past five years, and is expected to exceed RMB 200 billion over the next five. On models, the MiMo 2.6 foundation model released in September ranked fifth among global foundation models and first among open-source models at the time of launch. The same day, Xiaomi opened its new car design centre, with the Pengcheng extended-range N70 and N90 joining the SU7 and YU7 to form two product series.

5. UBTECH Signs Distribution Deals in Japan and the Middle East as Global Humanoid Robot Sales Reach 36,000 Units in H1

UBTECH ROBOTICS (09880.HK) has accelerated its overseas channel and entity build-out. On October 19, the company signed an exclusive distribution agreement with Japanese listed company Bitcoin Japan, bringing six humanoid robot products into the Japanese market. On October 20, it signed a strategic cooperation memorandum with the International Relations Office of the Ras Al Khaimah government in the UAE to promote local deployment of humanoid robots, and will send engineers to take part in demonstration projects. On October 20, its wholly owned subsidiary Guangzhou Zengyou Technology was established with registered capital of RMB 30 million, covering service consumer robot manufacturing and intelligent robot R&D. At the industry level, global humanoid robot sales reached 36,000 units in the first half of 2026, already exceeding the 35,000 units sold in all of 2025, for combined revenue of USD 540 million at an average price of about RMB 100,000 per unit; the top five vendors by revenue are all Chinese companies, together holding 57.4% of the global market.

IV. Profiles of Representative AI Concept Stocks