Three AI Large Model Semi-IPOs Reach New Heights; KNOWLEDGE ATLAS and HAIZHI TECH GP Soar Approximately 20%; Jefferies Assigns Buy Rating to MINIMAX-WP
Market Overview: Hong Kong stocks opened lower on the first trading day after the Lunar New Year, dropping 348 points to a low of 26,356 before closing at 26,577, down 128 points with a turnover of HKD83.242 billion.
AI Sector Performance: Three semi-IPOs in the AI sector, MINIMAX-WP, KNOWLEDGE ATLAS, and HAIZHI TECH GP, saw significant gains, with MINIMAX-WP reaching a new high since listing and receiving a Buy rating from Jefferies.
Mixed Results for Major AI Stocks: Other major AI-related stocks had mixed performances, with blue-chip stocks like BIDU-SW, BABA-W, KUAISHOU-W, and TENCENT experiencing declines.
Short Selling Activity: Notable short selling activity was reported, particularly for BIDU-SW and BABA-W, indicating market caution among investors in the AI sector.
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HSI Ends Year of the Horse with a 292-Point Drop; HSTECH Falls 2.9%, While Robotics and AI IPOs Experience Significant Gains
Market Performance: Hong Kong stocks fell on the first trading day after the Lunar New Year, with the HSI down 1.1% to 26,413, while total market turnover reached $165.373 billion.
Oil Sector Gains: Oil producers PETROCHINA and CNOOC saw significant intraday gains, with CNOOC hitting an all-time high, while other energy-related stocks also performed well.
Robotics Stocks Surge: The popularity of a robot martial arts performance at the CCTV Spring Festival Gala led to sharp increases in robotics stocks, with DOBOT and ROBOSENSE experiencing notable gains.
AI IPOs Performance: Three major AI-related IPOs, including HAIZHI TECH GP and KNOWLEDGE ATLAS, saw substantial price increases, with KNOWLEDGE ATLAS's turnover exceeding $3.2 billion.
CICC Begins Coverage of MINIMAX-WP (00100.HK) with Outperform Rating and Target Price of $1,109
CICC Coverage Initiation: CICC has initiated coverage on MINIMAX-WP (00100.HK) with an "Outperform" rating and a target price of $1,109, reflecting a valuation multiple of 75x for 2027 based on a PS ratio method.
Company's Unique Position: MINIMAX-WP is noted for its strong foundation model capabilities and its ability to commercialize global AI native applications, making it a rare player in the AI sector in mainland China.
Early Adoption of Full-Modal Integration: The company is recognized as one of the earliest manufacturers in mainland China to pursue a native full-modal integration strategy, focusing on the development of text, voice, and video models.
Advancements in AI Capabilities: With the evolution of agent and world models, full-modal understanding and generation are becoming critical foundational capabilities, which MINIMAX-WP has been actively developing since its inception.
HSI Drops 161 Points at Midday in Year of the Horse; Robotics and AI Stocks Surge; PetroChina and CNOOC Reach All-Time Highs
Market Performance: The HSI fell by 161 points (0.6%) to 26,544, while the HSCEI and HSTECH also experienced declines, with total market turnover reaching HKD91.755 billion.
Oil and Energy Stocks Surge: PETROCHINA and CNOOC saw significant gains of 4.6% and 3.3%, respectively, with CNOOC hitting an all-time high, while other energy-related stocks also performed well.
Robotics and AI Stocks Rally: Following a viral performance at the CCTV Spring Festival Gala, robotics stocks like DOBOT and ROBOSENSE surged by over 19%, alongside strong performances from AI model stocks.
Tech Sector Declines: Major tech companies such as Alibaba, Baidu, and Tencent faced losses, with declines ranging from 1.4% to 7.8%, while several other tech stocks also experienced significant drops.
Three AI Large Model Semi-IPOs Reach New Heights; KNOWLEDGE ATLAS and HAIZHI TECH GP Soar Approximately 20%; Jefferies Assigns Buy Rating to MINIMAX-WP
Market Overview: Hong Kong stocks opened lower on the first trading day after the Lunar New Year, dropping 348 points to a low of 26,356 before closing at 26,577, down 128 points with a turnover of HKD83.242 billion.
AI Sector Performance: Three semi-IPOs in the AI sector, MINIMAX-WP, KNOWLEDGE ATLAS, and HAIZHI TECH GP, saw significant gains, with MINIMAX-WP reaching a new high since listing and receiving a Buy rating from Jefferies.
Mixed Results for Major AI Stocks: Other major AI-related stocks had mixed performances, with blue-chip stocks like BIDU-SW, BABA-W, KUAISHOU-W, and TENCENT experiencing declines.
Short Selling Activity: Notable short selling activity was reported, particularly for BIDU-SW and BABA-W, indicating market caution among investors in the AI sector.
Guotai Haitong Begins Coverage of MINIMAX-WP (00100.HK) with Overweight Rating and Target Price of $620
Research Coverage Initiation: Guotai Haitong has initiated coverage on MINIMAX-WP (00100.HK) with an Overweight rating and a target price of $620, following a significant stock increase of 24.56%.
Company Performance Highlights: The company boasts a self-developed multimodal large model with leading performance, a high percentage of overseas revenue, and substantial cash reserves.
Revenue Projections: MINIMAX-WP is projected to generate $220 million in revenue by 2026, with a price-to-sales (PS) ratio of 113x, indicating strong growth potential.
Market Context: The report positions MINIMAX-WP as a unique global AI investment opportunity within the Hong Kong equity market, amidst notable developments in the entertainment sector.
"Two AI Semi-IPOs Show Mixed Results on Final Day of Year of the Snake; MINIMAX-WP Surges 21%; KNOWLEDGE ATLAS Declines After Hitting Peak"
Hong Kong Stock Market Overview: The Hong Kong stock market had a half-day trade on the 16th, with the HSI closing at 26,668, up 101 points or nearly 0.4%, and a turnover of HK$69.991 billion. Mainland A-shares are currently closed and will resume trading on the 24th.
Performance of AI IPOs: Two AI large-scale model IPOs, MINIMAX-WP and KNOWLEDGE ATLAS, showed mixed results. MINIMAX-WP surged by 21.47% to HK$826, while KNOWLEDGE ATLAS opened higher but faced profit-taking, ending at HK$488.2, up 0.66%.
Trading Activity: MINIMAX-WP experienced significant trading activity with a turnover of HK$1.342 billion, while KNOWLEDGE ATLAS had a turnover of HK$1.427 billion, indicating strong investor interest in AI-related stocks.
Market Sentiment: Analysts from BofAS expressed a preference for GDS-SW and KINGSOFT CLOUD, suggesting that price hikes in these stocks reflect strong demand for AI technologies.
HSI Ends Year of the Horse with a 292-Point Drop; HSTECH Falls 2.9%, While Robotics and AI IPOs Experience Significant Gains
Market Performance: Hong Kong stocks fell on the first trading day after the Lunar New Year, with the HSI down 1.1% to 26,413, while total market turnover reached $165.373 billion.
Oil Sector Gains: Oil producers PETROCHINA and CNOOC saw significant intraday gains, with CNOOC hitting an all-time high, while other energy-related stocks also performed well.
Robotics Stocks Surge: The popularity of a robot martial arts performance at the CCTV Spring Festival Gala led to sharp increases in robotics stocks, with DOBOT and ROBOSENSE experiencing notable gains.
AI IPOs Performance: Three major AI-related IPOs, including HAIZHI TECH GP and KNOWLEDGE ATLAS, saw substantial price increases, with KNOWLEDGE ATLAS's turnover exceeding $3.2 billion.
CICC Begins Coverage of MINIMAX-WP (00100.HK) with Outperform Rating and Target Price of $1,109
CICC Coverage Initiation: CICC has initiated coverage on MINIMAX-WP (00100.HK) with an "Outperform" rating and a target price of $1,109, reflecting a valuation multiple of 75x for 2027 based on a PS ratio method.
Company's Unique Position: MINIMAX-WP is noted for its strong foundation model capabilities and its ability to commercialize global AI native applications, making it a rare player in the AI sector in mainland China.
Early Adoption of Full-Modal Integration: The company is recognized as one of the earliest manufacturers in mainland China to pursue a native full-modal integration strategy, focusing on the development of text, voice, and video models.
Advancements in AI Capabilities: With the evolution of agent and world models, full-modal understanding and generation are becoming critical foundational capabilities, which MINIMAX-WP has been actively developing since its inception.
HSI Drops 161 Points at Midday in Year of the Horse; Robotics and AI Stocks Surge; PetroChina and CNOOC Reach All-Time Highs
Market Performance: The HSI fell by 161 points (0.6%) to 26,544, while the HSCEI and HSTECH also experienced declines, with total market turnover reaching HKD91.755 billion.
Oil and Energy Stocks Surge: PETROCHINA and CNOOC saw significant gains of 4.6% and 3.3%, respectively, with CNOOC hitting an all-time high, while other energy-related stocks also performed well.
Robotics and AI Stocks Rally: Following a viral performance at the CCTV Spring Festival Gala, robotics stocks like DOBOT and ROBOSENSE surged by over 19%, alongside strong performances from AI model stocks.
Tech Sector Declines: Major tech companies such as Alibaba, Baidu, and Tencent faced losses, with declines ranging from 1.4% to 7.8%, while several other tech stocks also experienced significant drops.
Three AI Large Model Semi-IPOs Reach New Heights; KNOWLEDGE ATLAS and HAIZHI TECH GP Soar Approximately 20%; Jefferies Assigns Buy Rating to MINIMAX-WP
Market Overview: Hong Kong stocks opened lower on the first trading day after the Lunar New Year, dropping 348 points to a low of 26,356 before closing at 26,577, down 128 points with a turnover of HKD83.242 billion.
AI Sector Performance: Three semi-IPOs in the AI sector, MINIMAX-WP, KNOWLEDGE ATLAS, and HAIZHI TECH GP, saw significant gains, with MINIMAX-WP reaching a new high since listing and receiving a Buy rating from Jefferies.
Mixed Results for Major AI Stocks: Other major AI-related stocks had mixed performances, with blue-chip stocks like BIDU-SW, BABA-W, KUAISHOU-W, and TENCENT experiencing declines.
Short Selling Activity: Notable short selling activity was reported, particularly for BIDU-SW and BABA-W, indicating market caution among investors in the AI sector.
Guotai Haitong Begins Coverage of MINIMAX-WP (00100.HK) with Overweight Rating and Target Price of $620
Research Coverage Initiation: Guotai Haitong has initiated coverage on MINIMAX-WP (00100.HK) with an Overweight rating and a target price of $620, following a significant stock increase of 24.56%.
Company Performance Highlights: The company boasts a self-developed multimodal large model with leading performance, a high percentage of overseas revenue, and substantial cash reserves.
Revenue Projections: MINIMAX-WP is projected to generate $220 million in revenue by 2026, with a price-to-sales (PS) ratio of 113x, indicating strong growth potential.
Market Context: The report positions MINIMAX-WP as a unique global AI investment opportunity within the Hong Kong equity market, amidst notable developments in the entertainment sector.
"Two AI Semi-IPOs Show Mixed Results on Final Day of Year of the Snake; MINIMAX-WP Surges 21%; KNOWLEDGE ATLAS Declines After Hitting Peak"
Hong Kong Stock Market Overview: The Hong Kong stock market had a half-day trade on the 16th, with the HSI closing at 26,668, up 101 points or nearly 0.4%, and a turnover of HK$69.991 billion. Mainland A-shares are currently closed and will resume trading on the 24th.
Performance of AI IPOs: Two AI large-scale model IPOs, MINIMAX-WP and KNOWLEDGE ATLAS, showed mixed results. MINIMAX-WP surged by 21.47% to HK$826, while KNOWLEDGE ATLAS opened higher but faced profit-taking, ending at HK$488.2, up 0.66%.
Trading Activity: MINIMAX-WP experienced significant trading activity with a turnover of HK$1.342 billion, while KNOWLEDGE ATLAS had a turnover of HK$1.427 billion, indicating strong investor interest in AI-related stocks.
Market Sentiment: Analysts from BofAS expressed a preference for GDS-SW and KINGSOFT CLOUD, suggesting that price hikes in these stocks reflect strong demand for AI technologies.
