HK Stock Connect Insight | WENGE AI (01956.HK) First-Half Newly Signed Contract Value of About RMB 355 Million, Down 34.26% Since Stock Connect Inclusion

NewTimeSpace News: On October 23, 2026, WENGE AI closed at HKD 59.10, down 4.98% for the day, with turnover of HKD 10.1705 million.

According to publicly available information, WENGE AI listed on the Main Board of HKEX on June 26, 2026 at an offer price of HKD 60.70, with a global offering of approximately 14.8346 million shares and net proceeds from the global offering of approximately HKD 827 million. The Hong Kong public offering was oversubscribed 5,966.78 times.

Since listing, the share price has ranged from a high of HKD 125.00 to a low of HKD 58.00. As of October 23, 2026, the stock closed at HKD 59.10, about 2.6% below the offer price of HKD 60.70. Since its inclusion in Stock Connect, the share price has fallen from HKD 89.90 at the close on September 7, 2026 to HKD 59.10, a decline of about 34.26%.

Hang Seng Indexes Company announced on August 21, 2026 the results of its quarterly review of the Hang Seng Index series for the period ended June 30, 2026, under which WENGE AI was included in the Hang Seng Composite Index with effect from September 7, 2026. The Shanghai and Shenzhen stock exchanges subsequently adjusted their respective lists of eligible securities under Stock Connect, and the company's shares were included in the list of eligible securities for Stock Connect with effect from September 7, 2026.

Founded in 2017 by a team of scientists from the Institute of Automation, Chinese Academy of Sciences, WENGE AI listed in June 2026 as a specialist technology company under Chapter 18C of the Listing Rules. With its self-developed Decision Intelligence Operating System (DIOS) as the technology foundation, the company has built a DOMA architecture product system covering data, models, AI agents and decisions, has developed the in-house Yayi large model, and has launched the Decitron decision machine, a general-purpose decision large model, with products applied in fields including public governance, finance, media convergence and industrial.

On the financial front, the company's revenue for the first half of 2026 was RMB 173 million, up 46.0% year on year, of which revenue from platform subscription and API services was RMB 58.95 million, up 94.0% year on year and accounting for 34.1% of total revenue. Loss for the period was RMB 87.7 million, narrowed by 24.5% year on year, and adjusted net loss was RMB 52.9 million, narrowed by 29.5% year on year. The value of newly signed contracts in the first half was about RMB 355 million.

A research report by Guotai Haitong Securities noted that WENGE AI is a leader in the domestic enterprise-level large-model-driven decision intelligence track and a core AI for Science (AI4S) target, with a full-stack decision AI product system covering data, models, AI agents and decisions built on the DOMA architecture, extensive experience in implementing complex scenarios, and that faster platformisation is expected to enhance product reusability.