On May 28, Hong Kong stocks closed lower, but the AI and semiconductor sectors rallied. ZHIPU AI surged 13.54% to a new record high, while MININGLAMP-W secured a seven-day winning streak. Meanwhile, global top-tier LLMs achieved milestone breakthroughs in mathematical reasoning, Tencent Cloud launched its full-stack Agent products overseas, and Kuaishou's Kling AI reported Q1 revenue exceeding RMB 650 million.
NewTimeSpace News: Ocumension Therapeutics(01477.HK) announced that the first patient has been enrolled in the Phase III clinical trial of OT-802 (Pilocarpine Hydrochloride Eye Drops) conducted in China. Indicated for the treatment of presbyopia, the product adopts the same dual-chamber liquid formulation technology as OT-101. Preclinical studies have proven its rapid onset of action and high safety profile.
NewTimeSpace News: During the morning session on May 28, 2026, the three major Hong Kong stock indices continued to decline, while large model concept stocks bucked the trend and strengthened. As of 10:27 AM, Zhipu (2513.HK) rose by 3.02%, continuing to refresh its all-time high by reaching HK$1,467.00, while Mininglamp Technology-W (2718.HK) followed the upward trend.Since May, among the large model concept stocks, Zhipu and Mininglamp Technology-W have welcomed a powerful surge, with both stocks posting gains exceeding 50%, leading a crowd of related equities.
On May 27, Hong Kong stocks retreated, but AI and semiconductor sectors rallied. ZHIPU AI hit a record high, surpassing a HKD 650 billion market cap, while MINIMAX-W and MININGLAMP-W surged. Meanwhile, Xiaomi slashed its LLM API prices by 99%, and ZHIPU AI co-founded a new AI venture fund.
NewTimeSpace (newtimespace.com) News: On May 27, 2026, the Hang Seng Tech Index in the Hong Kong stock market continued to climb in morning trading, gaining 0.86% as of 10:15 AM. large model concept stocks had performed remarkabl since the beginning of May: Zhipu (2513.HK) rose over 60%, Mininglamp Technology-W (2718.HK) rose nearly 50%, and MINIMAX-W (0100.HK) gained over 15%.
The AI industrial chain continued to explode. Mininglamp Technology-W surged by 18.95%, Zhipu rose by 4.91%, while stocks such as Xunce, SenseTime-W, and baba-W followed the upward trend. Lenovo Group continued its sharp rally, rising 15.5% as the company's financial results significantly beat market expectations, with its full-year AI-related revenue doubling year-on-year. 51World continued to surge by 27.55% following the official launch of its embodied AI data platform, Aperdata.ai.
NewTimeSpace News: On May 26, 2026, Mininglamp Technology-W (2718.HK) closed with a sharp gain of 18.95% at HK$313.80, with its share price setting a new historical high since its listing.
From the explosion of API demand at the model layer for Zhipu and MiniMax, to the rapid rise in the proportion of generative AI for SenseTime, and further to Xunce and Mininglamp Technology validating their value in vertical data services and enterprise-level scenarios respectively, differentiation and acceleration constitute the most definitive narrative main line for the AI sector in 2026.
NewTimeSpace News, On May 26, 2026, the Hang Seng Tech Index in the Hong Kong stock market fluctuated and rose sharply in morning trading.As of 10:44 AM on May 26, 2026, the large model concept stock Mininglamp Technology-W (2718.HK) rose by 4.62%, leading the gains among Hong Kong-listed large model concept stocks. Meanwhile, Kuaishou-W (1024.HK) rose by 1.18%, SenseTime-W (0020.HK) rose by 0.63%, Zhipu (2513.HK) fell by 2.42%, and MINIMAX (0100.HK) fell by 7.87%.
NewTimeSpace News: MicroPort NeuroScientific Corporation (02172.HK) announced that the NUMEN™ Helia Coil Embolization System, independently developed by its subsidiary MicroPort NeuroTech (Shanghai) Co., Ltd., has recently received marketing approval from the U.S. Food and Drug Administration (FDA). This marks the Group’s third coil product approved for marketing in the U.S., following the NUMEN™ Detachable Coil and NUMEN™ Silk 3D Electrolytic Detachable Coil.
Although the Hong Kong market was closed for a public holiday on May 25, the AI LLM supply chain has remained the market's strongest driving force throughout the month, with KNOWLEDGE ATLAS (02513.HK) and MININGLAMP-W (02718.HK) surging 47.70% and 21.01% month-to-date, respectively.
China's AI industry has been experiencing a comprehensive resonance extending from macro policies to micro financial data. Weighty documents from the State Council made it clear that artificial intelligence legislation is accelerating, the National Development and Reform Commission (NDRC) is planning to issue supporting documents for "AI+", ByteDance has increased its AI capital expenditure, and both Zhipu and MiniMax have been included in the Hang Seng Tech Index. Following the NDRC press conference on May 22, Hong Kong-listed AI concept stocks shot up in a straight line. Zhipu (2513.HK) once surged over 30%, hitting another historical high, while MINIMAX (0100.HK), Mininglamp Technology-W (2718.HK), and Xunce (3317.HK) all rallied strongly.
On May 22, Hong Kong stocks rebounded, with the Hang Seng Index (HSI) rising 0.86% and the Hang Seng TECH Index surging 2.11%. The AI supply chain emerged as the main driving force: ZHIPU AI soared nearly 27%, MINIMAX jumped over 15%, Lenovo Group skyrocketed by 19.8%, and 51World surged 28.9%. In industry news, reports indicated that OpenAI is preparing for an IPO with Q1 revenue reaching approximately USD 5.7 billion; ZHIPU AI launched its GLM-5.1 HighSpeed API with an output speed of 400 tokens/s; and Tencent will host its first-ever Public Open Day from May 30 to 31.
NewTimeSpace News: Shanghai Henlius Biotech, Inc. (02696.HK) announced that the first patient has been dosed in the Phase I clinical research of self-developed injectable HLX316, a B7-H3-targeting sialidase Fc fusion protein, for advanced and metastatic solid tumors in China. As an innovative first-in-class B7-H3-targeting sialidase heterodimer, no equivalent product has obtained marketing approval globally.
Recently, enterprises related to large language models have entered a period of intensive product releases. A multi-polar, multi-functional application landscape is unfolding across the board.Catalyzed by industry and company news, stocks related to the large model concept have performed well this week. As of the market close on May 22, Zhipu saw a weekly gain of over 20%, Mininglamp Technology-W rose over 10% for the week, and stocks such as MINIMAX and Xunce experienced significant rebounds on May 22.
KELUN-B (06990.HK) will announce Phase 3 data for sac-TMT combined with pembrolizumab as a first-line treatment for PD-L1-positive advanced NSCLC (median PFS: NR vs. 5.7 months, $HR = 0.35$) and Phase 2 data for lemborertinib fumarate in RET fusion-positive NSCLC (ORR of 87.1% in pretreated patients) at the 2026 ASCO Annual Meeting. Both registration studies have been selected for oral presentations, and relevant marketing applications have been accepted by the NMPA.
