Hong Kong Stock Market Close | The Three Major Indices Continue Weak Volatility for the Week, Haizhi Technology Gains Over 60% Cumulatively

Cailian Press, February 20 (Editor: Hu Jiarong)
Due to the Spring Festival holiday, this week’s Hong Kong stock trading days were reduced to two, and the three major indices continued their overall volatile consolidation pattern.

For the week, the Hang Seng Index declined a total of 0.58%, closing at 26,413.25 points; the Hang Seng Tech Index declined 2.78%, closing at 511.50 points; the China Enterprises Index declined 0.81%, closing at 8,959.56 points.

Note: Weekly performance of the Hang Seng Index

Note: Weekly performance of the Hang Seng Tech Index
Weekly Highlights: Three stocks lead the market, theme-driven catalytic effects are significant

Despite the shortened trading days, some stocks performed strongly driven by event catalysts and industry logic:

Xingtai Chain Group (00399.HK) rose a total of 294.74% this week. In terms of news, on February 12, the company signed a strategic cooperation agreement with China International Digital Intelligence Finance Group for the “Gold Real-World Asset Tokenization Project”; combined with the rising expectations for the issuance of Hong Kong’s first stablecoin license, the cryptocurrency concept attracted capital focus.

Boreal Power (01685.HK) rose a total of 71.43% this week. Aijian Securities research report pointed out that global data centers will add 14GW of new capacity in 2024, with continuous increases in cabinet power density boosting demand for high-stability, high-efficiency power equipment. As a supplier in this niche, the company directly benefits.

Haizhi Technology Group (02706.HK) increased by 66.41% this week. In terms of news, on February 13, it was listed as a new stock in the “Graph Computing and Graph Database” field, aligning with the AI infrastructure construction wave. Guotou Securities International believes that it has technological barriers and commercial potential in the industry-level AI intelligent agent track, with strong growth momentum for its core products.

Today’s Market

Market trading sentiment today was cautious. By the close, the Hang Seng Index fell 1.10%; the Tech Index fell 2.91%; the China Enterprises Index fell 1.22%.

From market performance, oil, power equipment, AI applications, and robotics stocks strengthened, while film, internet, and tech stocks weakened.

Geopolitical Risks Boost Energy Stocks, CNOOC International Rises Nearly 4%

By the close, CNOOC International (00346.HK) rose 3.75%, PetroChina International (00857.HK) rose 3.70%, and CNOOC Limited (02883.HK) rose 3.20%.

In news, Iran announced that its defense forces are entering full combat readiness, the U.S. is accelerating deployment of the “Ford” aircraft carrier and air forces to the Middle East, and concerns over the security of the Strait of Hormuz have triggered market worries. WTI crude oil futures briefly hit a high of $66.83 per barrel, but have since turned lower.

Domestic and International Demand Boost Power Equipment Stocks, Shanghai Electric Up Over 5%

By the close, China High-Speed Transmission (00658.HK) rose 13.24%, Shanghai Electric (02727.HK) rose 5.59%, Harbin Electric (01133.HK) rose 3.06%.

In news, Everbright Securities pointed out that structural shortages in U.S. power supply are creating long-term opportunities in gas turbines and energy storage; domestically, State Grid Corporation expects fixed asset investment during the 14th Five-Year Plan to reach 4 trillion yuan, a 40% increase over the 14th Five-Year Plan, with a comprehensive acceleration in new power system construction.

Spring Festival Gala Catalyzes Dual Main Themes of Safety and Commercialization, Zhipu Surges Over 40%

By the close, Zhipu (02513.HK) rose 42.72%, Haizhi Technology Group (02706.HK) rose 28.42%, MINIMAX-WP (00100.HK) rose 14.52%.

In news, the CCTV Spring Festival Gala skit “AI Partner” sparked nationwide attention on deepfake AI and trust security; CICC research reports indicate that Zhipu has raised the subscription price for the GLM Coding Plan, reflecting a shift in industry pricing logic from “traffic consumption” to “computing power monetization,” with clear profit paths for model vendors.

Technology Validation at Spring Festival Gala, Yuejiang Surges Over 20%

By the close, Yuejiang (02432.HK) rose 21.40%, SUTENG Juchuang (02498.HK) rose 9.24%, UBTECH (09880.HK) rose 4.71%.

In news, companies like Songyan Power, Yushu Technology, Magic Atom, and Galaxy General appeared in various Spring Festival Gala programs. Dongwu Securities believes that advances in core algorithms and hardware are pushing robots from demonstrations toward factory and service scenarios, with an industry inflection point approaching.

Spring Festival Ticket Sales Under Pressure, Damai Entertainment Falls Over 5%

By the close, Damai Entertainment (01060.HK) fell 5.32%, Maoyan Entertainment (01896.HK) fell 3.66%, Emperor Culture Industry (00491.HK) fell 3.13%.

In news, the first-day box office for the 2026 Spring Festival is 1.272 billion yuan, the second-lowest in nearly a decade, only higher than 2017, reflecting cautious market expectations for short-term content supply and consumption recovery.

Multiple Factors Trigger Phase Adjustment, Baidu Group Falls Over 6%

By the close, Baidu Group-SW (09888.HK) fell 6.25%, Bilibili-W (09626.HK) fell 5.28%, Alibaba-W (09988.HK) fell 4.91%.

In news, internet stocks are affected by industry tax policy expectations, intensified competition from AI red envelopes during the Spring Festival, and short-term profit pressure from strategic investments, combined with year-end risk aversion and cautious sentiment toward high-valuation sectors.

Guolian Minsheng Securities and others note that leading companies have solid technological foundations and deep ecosystem barriers. The current correction may provide a window for medium- and long-term deployment, with core tracks like AI, e-commerce, and content ecosystems remaining fundamentally valuable.

Stock Movements

Shanghai Xiaonan Guo Rises Nearly 17%, Issuance of 124 Million Shares at 16.67% Premium Raises 12.4 Million Yuan

Shanghai Xiaonan Guo (03666.HK) rose 16.67%, closing at 0.028 HKD. According to the announcement, the company will issue up to 442 million new shares, expanding its share capital by 16.7%; the issue price is 0.028 yuan, a 16.67% premium over the previous trading day (16th). The total fundraising is 12.4 million yuan, with net proceeds of 12.1 million yuan, intended for general working capital.

COSCO Shipping Energy Rises Over 6%, Analysts Expect 2026 Q1 Tanker Profits to Multiply Year-over-Year

COSCO Shipping Energy (01138.HK) rose 6.34%, closing at 18.29 HKD. Notably, the stock hit a new intraday high of 18.51 HKD. CICC Securities reports that since 2026, geopolitical tensions have heightened, shipowner sentiment is high, and some overseas shipowners are increasing control over the charter market. Recently, freight rates for oil shipping have remained high, with the Middle East-China VLCC TCE maintaining above $120,000.