Sudden positive news: Hong Kong stocks with AI application concepts soar collectively! Media and consumer sectors decline

On February 20th, the three major Hong Kong stock indices opened slightly lower in the morning: the Hang Seng Index fell 0.18%, the Hang Seng Tech Index dropped 0.69%, and the Hang Seng China Enterprises Index declined 0.19%. Subsequently, the Hong Kong stock market fluctuated downward, with the Hang Seng Index dropping over 1% and the Hang Seng Tech Index at one point falling by 2.7%. As of the time of writing, the major Hong Kong indices narrowed their declines but remained more green than red.

On the market, in the morning, Hong Kong stocks in the media and consumer sectors mostly declined, with automotive, chemical, and hardware equipment sectors also falling; oil and petrochemical, semiconductor, and enterprise services sectors defied the trend and strengthened, with AI application sectors heating up.

Let’s look at the details—

Media and Consumer Sectors Decline

On the morning of February 20th, the Hong Kong media sector was weak, with MaDai Entertainment dropping over 6%, NetEase Cloud Music and Yuewen Group falling over 5%, and Tencent Music down nearly 4%.

In the consumer sector, categories such as discretionary, daily, and durable consumption all declined collectively. Alibaba fell over 4 intraday, Pop Mart dropped over 3%, and Lao Pu Gold declined over 4%.

Recently, Lao Pu Gold announced a price adjustment, which will take effect on February 28, 2026. The product pricing details will be based on actual online and offline prices. It is reported that this will be Lao Pu Gold’s first price adjustment in 2026.

AI Application Sector Strengthens

On the morning of February 20th, the Hong Kong AI application sector continued its pre-holiday rally. Haizhi Technology Group initially surged over 28%, reaching a high of HKD 154.4 per share, setting a new high since listing.

Zhipu’s stock price reached a peak of HKD 635 per share during the session, up 25%, with a total market value exceeding HKD 270 billion.

MINIMAX also rose simultaneously, up over 15% during the session, reaching a high of HKD 980 per share.

Netizens commented enthusiastically: “The increase is truly exaggerated,” “So magical.”

According to news from Sugon (Sugon SothisAI), Sugon recently upgraded SothisAI, achieving full integration of the Zhipu GLM-5 and Alibaba Qwen 3.5 large models, and further simplified and optimized the construction and operation processes of enterprise AI platforms, aiming to help clients unleash the potential of domestic open-source large models.

Recently, domestic AI chip company Taichu (Wuxi) Electronics Technology Co., Ltd. (also known as “Taichu Yuanqi”) completed deep adaptation work for several mainstream domestic open-source large models, including Zhipu GLM-5.0 and Alibaba Qwen 3.5-397B-A17B.

In addition, Seedance 2.0, a large model, made its debut in the first public application scenario at the Spring Festival Gala, deeply participating in visual production for multiple programs. The innovative mode of “AI-generated images + real scene stage expansion” in this year’s Spring Festival Gala has sparked widespread online discussion, with Seedance 2.0 being the core technology support for this mode.

A recent research report from China Merchants Securities pointed out that the AI application field is showing a clear trend of simultaneous technological breakthroughs and intensified commercialization competition. Core breakthroughs in AI-related technologies are emerging. The “Artificial Intelligence+” initiative, as part of the national medium- and long-term development strategy, provides solid long-term support for the industry. Although valuation levels are slightly high, driven by industry trends and policy dividends, the upward potential is worth期待。

(Source: China Fund News)