02706 Overview

Strategic Cooperation Agreement: HAIZHI TECH GP has entered into a Strategic Cooperation Framework Agreement with KNOWLEDGE ATLAS to collaborate on model training and application scenarios.

Focus on AI Solutions: The partnership aims to leverage both companies' technological strengths to develop Atlas graph solutions and industry-level intelligent agents, enhancing their AI offerings.

US Tariff Policy Impact: Following the US Supreme Court's decision to overturn Trump's tariff policy, he announced a 15% global tariff hike, influencing stock market movements in the Asia-Pacific region.

Record Highs in Asia-Pacific Markets: Major stock markets in the Asia-Pacific saw significant gains, with Taiwan's index surpassing 34,000 for the first time, and Singapore and South Korea also reaching historical highs.

Tech Stocks Lead Market Rally: Heavyweight technology stocks, including Meituan, JD, Tencent, Alibaba, and Xiaomi, contributed to the market rally, with notable increases in their share prices and trading volumes.

Decline of AI Model Stocks: Three AI model stocks experienced significant declines after reaching record highs, with Knowledge Atlas, Minimmax, and Haizhi Tech all reporting substantial losses in their share prices.

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.

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.

Stock Performance: HAIZHI TECH GP (02706.HK) debuted at $82.3, a 204.1% increase from its listing price of $27.06, and closed at $92.6, marking a 242.2% gain.

Trading Volume: The stock saw a trading volume of 9.8 million shares and a turnover of $863.44 million, with a book gain of $13,108 per board lot of 200 shares.

IPO Performance: HAIZHI TECH GP debuted on the Hong Kong Stock Exchange with a significant increase, opening at HKD82.3, which is 2.04 times its listing price, and peaking at HKD99.6 before closing at HKD92.

Subscription Demand: The company's public offering was highly oversubscribed, receiving 5,065.06 times the number of shares available, while the international offering saw 8.39 times subscription, leading to a final offer price of HKD27.06.