On the morning of May 29th, the Hong Kong stock market's hard technology sector collectively surged. As of 9:33 AM, the China Merchants CSI HK Connect Information Technology Composite ETF (526050) saw a significant increase of 4.96%, with intraday gains exceeding 5%. The performance of constituent stocks was explosive—LENOVO GROUP surged 30% in just one minute, while Legend Holdings, Guanghe Technology, Paradigm Intelligence, Maifushi, and Sunny Optical Technology also saw substantial gains.
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The news front welcomed a major catalyst. Recently, LENOVO GROUP signed an agreement with the Tianjin municipal government to build a new generation AI infrastructure. According to the agreement, LENOVO GROUP will invest in the construction of a new generation AI computing product R&amp;D and manufacturing center within the LENOVO (Tianjin) Smart Innovation Service Industrial Park, aiming to seize the competitive high ground in the industry. The new production line is planned to achieve mass production in the golden autumn of 2027. LENOVO GROUP's AI business continues to gain momentum, with previous financial reports showing a year-on-year increase of 105% (doubling) in AI-related revenue for the entire year, and AI-related revenue accounting for 38% in the fourth quarter. Chairman Yang Yuanqing expressed confidence in becoming a $100 billion scale enterprise within the next two years.
It is understood that the China Merchants CSI HK Connect Information Technology Composite ETF (526050) tracks the CSI HK Connect Information Technology Composite Index, with the top ten holdings covering hard technology leaders such as LENOVO GROUP, SMIC, Hua Hong Semiconductor, Zhaoyi Innovation, and Xiaomi Group-W, excluding internet stocks, making it a pure tool for investing in the Hong Kong hard technology sector

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On May 29th, the hard technology sector of Hong Kong stocks surged significantly, with the China Merchants CSI HK Connect Information Technology Composite ETF (526050) rising by 4.96%. Lenovo Group skyrocketed by 30% within one minute after signing an AI infrastructure agreement with the Tianjin municipal government, planning to launch a new generation of AI computing power product R&D center by 2027. Lenovo Group's AI revenue increased by 105% year-on-year, and the chairman is full of confidence in future development

In 1 minute, a 30% increase! The heavily weighted stock Lenovo Group exploded!