On July 17, Hong Kong equities closed sharply lower across the board, with the LLM and semiconductor supply chains suffering heavy losses. Driven by a global technology rout, KNOWLEDGE ATLAS plummeted over 28%, MiniMax tumbled 15%, and both SMIC and Hua Hong Semiconductor dropped over 10% as crowded sector positionings loosened. Despite market volatility, industry milestones and capital expansion remained robust: the World Artificial Intelligence Cooperation Organization (WAICO) agreement was signed by 29 founding nations with its headquarters set in Shanghai; DeepSeek completed its first funding round at an RMB 351 billion valuation, with Tencent as its largest shareholder holding over 33%; and Moonshot AI launched Kimi K3, the world's largest open-source model to date at 2.8 trillion parameters.
NewTimeSpace News: Bocan Vision announced on 17 July that the US Food and Drug Administration (FDA) has completed the safety review of the Investigational New Drug (IND) application for CBT-358 submitted by the Company on 21 May 2026.
NewTimeSpace News: CSPC Pharma (01093.HK) announced that the New Drug Application (NDA) for its self-developed Envi Trastuzumab Injection has been accepted by the NMPA. Filed as Class 1 therapeutic biological product, it is indicated for unresectable or metastatic HER2-positive adult breast cancer patients previously treated with one or more anti-HER2 agents.
NewTimeSpace News: On 17 July 2026, XPENG-W(09868.HK) fluctuated lower in the afternoon session. As of 15:13, its intraday price stood at HK$51.70, representing a drop of 8.58%. On 16 July, XPEV Group held the XPEV Brand Day and global launch event of MONA L03 in Munich, Germany, unveiling the first global model of the MONA series, the XPEV MONA L03.
NewTimeSpace (newtimespace.com) reported that on July 17, 2026, the semiconductor theme in Hong Kong stocks continued to weaken, with ASMPT (00522.HK) extending its decline. As of 13:38, the stock was quoted at HKD 159.900, down 9.92%.
NewTimeSpace (newtimespace.com) reported that on July 17, 2026, the humanoid robot theme weakened significantly, with Xiaomi-W (01810.HK) fluctuating lower. As of 13:13, the stock was quoted at HKD 26.660, down 3.05%.
Choice data shows that from the beginning of July 2026 to July 16,Huatai Securities Zijin Hang Seng Internet Technology Industry Index Initiating Fund A (018523) andHuatai Securities Zijin Hang Seng Internet Technology Industry Index Initiating Fund C (018524) rose by 12.89% and 12.87%, respectively.
Choice data shows that from the beginning of July 2026 to July 16,Wanjia Hang Seng Internet Technology Industry ETF Initiating Feeder Fund-A (018475) andWanjia Hang Seng Internet Technology Industry ETF Initiating Feeder Fund-C (018476) rose by 11.89% and 11.87%, respectively.
NewTimeSpace News: On July 17, Unisound announced the official release of the industry's first professional large model "U2-Med Three Medical Model" targeting medical care, medical insurance (including commercial insurance) and pharmaceuticals, based on the U2 foundation model. The model significantly improves computational efficiency and intelligent agent execution to support three-medical linkage digital transformation, and ranked first in both the full-modality large model and intelligent agent categories in the July 2026 MedBench evaluation, with three-medical comprehensive benchmark scores of 89.1 (non-thinking mode) and 88.9 (thinking mode). The Company also recently signed AI medical construction projects with leading top-tier hospitals including Beijing You'an Hospital, Shandong Provincial Hospital and Nanjing Tongren Hospital, marking its entry into a new phase of scalable replication for medical large model commercialization.
NewTimeSpace News: On July 16, Conant Optical announced the latest progress in its smart glasses business. The Company recently signed cooperation R&D or procurement framework agreements with four international and domestic leading technology enterprises and consumer electronics giants, being designated as a core lens supplier or multi-year R&D partner. Specifically, it exclusively supplies high-index ultra-thin prescription lenses and lamination assembly for one domestic client's waveguide smart glasses product, exclusively undertakes myopia lens lamination, whole-machine packaging and shipping for another domestic client, and is advancing small-batch trial production and mass production preparation with two other global leading technology enterprises. To meet order growth, the Company is expanding the XR smart glasses lens dedicated production line at the Qidong factory and building four new lens lamination and whole-machine packaging lines at the Shanghai factory. The Board believes the Company has established a significant first-mover advantage in the smart glasses vision solution field.
Montage Technology announced on July 16 that H1 2026 operating revenue is expected to be approximately RMB3.335 billion (up 26.6% YoY), with net profit attributable to shareholders of RMB1.900 billion to RMB2.100 billion (up 63.9% to 81.2% YoY), driven by AI industry trends, increased DDR5 RCD chip shipments, and rising revenue from new interconnect chip products. The same day, the Company disclosed that the Seoul Central District Prosecutors' Office conducted an antitrust raid at its Korean office on July 15; the Group is fully cooperating, no one has been accused, and business operations remain normal. Additionally, as the A-share price had cumulatively declined over 20% in 20 consecutive trading days, Chairman and CEO Yang Chonghe proposed an A-share buyback via centralized competitive bidding using the Company's own funds to maintain corporate value and shareholders' equity, with a repurchase period of 3 months from Board approval.
On July 16, Hong Kong stocks secured a five-day winning streak, while the LLM supply chain exhibited severe divergence. Internet giants collectively rallied, led by Kuaishou, Meituan, and Alibaba. The embodied AI and application sectors were highly active, with Marketingforce skyrocketing over 30%, and Xiaomi and XPeng posting strong gains on edge AI and robotics developments; conversely, ZHIPU AI faced a sharp correction, dropping 9.3%. On the industry front, edge-side deployment and commercialization by major tech firms accelerated: Alibaba's Qwen confirmed its full integration into China's Apple Intelligence, while its Qoder product dominated IDC's China AI coding market report with a 47.6% share. Meanwhile, Tencent's Hunyuan Hy3 saw its API call volume surge 68-fold in its first week, topping the global OpenRouter leaderboard.
NewTimeSpace News: INNOCARE (09969.HK) announced on 16 July that its TYK2 inhibitor Soficitinib (ICP-332) hit the primary endpoint in the Phase II segment of adaptive Phase II/III trial for adult patients with non-segmental vitiligo. F-VASI dropped roughly 39%-41% at Week 24 versus baseline, versus only 2.2% in placebo arm with statistically significant differences. The candidate demonstrated favourable safety profile, and the Company will advance to Phase III and communicate with regulators. Risks associated with clinical development exist.
NewTimeSpace News: Henlius (02696.HK) announced on 16 July that HLX18, its self-developed biosimilar of nivolumab (recombinant anti-PD-1 humanised monoclonal antibody injection), has administered the first patient in China in its global multi-centre Phase I trial for resected solid tumours. The Company plans to expand the trial to the US and other regions when conditions permit. Targeting PD-1, the reference drug recorded global sales of approximately USD11.785 billion in 2025 per IQVIA data. The Company cautions there is no guarantee of successful development and commercialisation of HLX18.
NewTimeSpace News: On 16 July 2026, BIDU-SW(09888.HK) strengthened in the afternoon session. As of 15:44, its intraday price stood at HK$110.10, representing a 2.42% gain. Baidu’s Apollo Go has fulfilled more than 22 million cumulative service orders as of April, with its business footprint covering 27 cities worldwide.
NewTimeSpace (newtimespace.com) reported that on July 16, 2026, the semiconductor theme in Hong Kong stocks fluctuated weaker, while SMIC (00981.HK) edged slightly higher. As of 13:30, the stock was quoted at HKD 76.450, up a marginal 0.20%.
