GJKNATL@EC2610B

Artificial Analysis Releases Coding Agent Benchmark

Zhipu Acquires Beijing Hongzuan Technology Development Co., Ltd. and Diamond Tower for 445 Million Yuan

Total valuation of China's Four AI Giants exceeds 1 Trillion Yuan

Beijing Hongzhuang Technology Development Co., Ltd. Changes Shareholder to Zhipei

Time Magazine Releases Top 10 Most Influential AI Companies of 2026

Zhipu Discloses GLM-5 Series Coding Agent Inference Technology, Performance Improved by 132%

Sanqi Interactive Reports Q1 Earnings and Analyzes AI Investment Returns

Zhipu AI Selected as One of the 10 Most Influential AI Companies by Time Magazine

JPMorgan Maintains Overweight Rating on Zhigu AI, Predicts Stock Price Increase

Zhipu Acquires Diamond Building Property

UBS Analysts Release Buy Rating for Zhìpǔ Technology H-Share

AI application 概念股 rise, DeepSeek initiates first external equity financing

Intelligent Spectrum Aims to Acquire Beijing Hongzhuang Technology Development Co., Ltd.

Zhipu Revenue Reached RMB 724 Million in 2025

Zhipu to acquire 100% equity of Red Diamond Technology Beijing for up to 361 million yuan

Zhips AI AutoClaw Launches Self-Evolution Mechanism and Skill Store

Zhipu Acquires Diamond Plaza for Its Own Use

Zhi 谱 Acquires An 狮 Red Diamond Property for Daily Needs

ZhiPu Technology to Acquire 100% Shares of Beijing Hongzhuan Technology Development Co., Ltd. for Up to RMB 360.52 Million

Zhipu Announces Price Hike for GLM-5.1, Shares Rise for Three Consecutive Days, Market Cap Surpasses $513 Billion

RADIANCE HLDGS

ANCHORSTONE

RIVERINE CHINA

REACH NEW HLDGS

FINELAND LIVING

NUR HOLDINGS

GOLDEN LEAF INT

UBOT HOLDING

MAN YUE TECH

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Yesterday's closing saw a significant pullback in the stock price of KNOWLEDGE ATLAS, which briefly touched an intraday high of HKD 1,229 before ultimately closing at HKD 1,090, down 5.22% from the previous trading day, with an intraday volatility of up to 13.8%. Despite the weakening closing price, the MACD on the daily chart confirmed a bullish signal above the zero line, which typically indicates that the medium-term trend remains strong, and the short-term pullback appears to be a rhythmic fluctuation triggered by profit-taking. The trading volume reached approximately HKD 1.852 billion, ranking among the top in the market, with intense capital competition. After a gap up at the opening, selling pressure quickly suppressed the price, significantly amplifying the long-short divergence at high levels. On the news front, the global AI large model sector continues to heat up. Recently, Alibaba and Tencent both released their financial reports on the same day, emphasizing their investments in AI and commercialization progress, with Alibaba Cloud targeting AI revenue of HKD 30 billion by the end of the year, and Tencent quantifying its AI cost investments for the first time. As one of the leading large model companies in China, KNOWLEDGE ATLAS's valuation logic in the AI foundational model field is highly correlated with these tech giants. Additionally, external catalysts such as U.S. President Trump's visit to China and NVIDIA's upcoming financial report are continuously boosting the overall enthusiasm in the AI sector, but the short-term gains have led some funds to choose to cash out at high levels. From a technical perspective, KNOWLEDGE ATLAS opened at HKD 1,135, lower than yesterday's close of HKD 1,150, indicating a weak opening, and after dipping to a low of HKD 1,070 during the day, it stabilized somewhat, suggesting that there is a certain level of support in the HKD 1,070-1,090 range. If the subsequent trading days can stabilize above HKD 1,070 with reduced volume and close with a bullish candle, it is expected to confirm the effectiveness of short-term support

Technical Forecast

KNOWLEDGE ATLAS

BABA-W

Alibaba

TENCENT

NVIDIA

BABA-WR

Alibaba HK SDR 5to1

Tencent

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Tencent HK SDR 10to1

Tencent Holdings Limited

NVIDIA Corporation

Pre-market trend | KNOWLEDGE ATLAS (2513.HK) on 5/14 saw a huge volume spike followed by a pullback, are the bullish signals reliable?

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Zhipu's shares surged nearly 900% since its IPO, driven by optimism around Nvidia's CEO Jensen Huang's visit to China, which raised hopes for better access to advanced chips. MiniMax also saw an 18% rise. Analysts suggest this could lead to negotiations for Nvidia supplying China, despite a complex policy backdrop. Zhipu's AI model ranked fifth globally, enhancing its market position.

- Chinese AI model developers are gaining attention following Nvidia CEO Jensen Huang's appearance at President Trump's Beijing visit, sparking optimism about access to advanced Nvidia chips.  
- MiniMax Group Inc. and Zhipu's stocks surged due to expectations that this signifies potential access to better semiconductors essential for China's AI ambitions.  
- Despite the excitement, access to Nvidia's advanced chips remains a critical challenge amidst a complex policy backdrop regarding semiconductor exports to China.

GuruFocus

GTJA Allianz SSE STAR Chip Design Thematic ETF

Direxion Semicon Bull 3X

Direxion Daily NVDA Bull 2X Shares

GraniteShares 2x Long NVDA Daily ETF

Guotai CES Semiconductor Chip Industry ETF

Guotai CSI Computer Theme ETF

XI2CSOPNVDA

XL2CSOPNVDA

T-Rex 2X Long NVIDIA Daily Target ETF

iShares Semiconductor ETF

GTJA Allianz CSI All Share Semiconductors & Semiconductor Equipment ETF

VanEck Semiconductor ETF

MINIMAX-W

OpenAI

Nvidia China Optics Send Zhipu Shares Up Nearly 900% Since IPO

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Trump has invited Nvidia CEO Jensen Huang to join a CEO delegation to a high-stakes summit in Beijing, emphasizing the tech firm's significance. Discussions will focus on AI chip market access, semiconductor export restrictions, and the delicate U.S.-China trade truce, along with sales of aircraft and agricultural products. The summit will also address geopolitical issues, including the Iran war and U.S. arms sales to Taiwan, reflecting the broader economic and political pressures influencing both leaders' agendas.

- Trump invited Nvidia's Jensen Huang to join a CEO delegation to Beijing, indicating the company's significance in strategic tech discussions.  
- The talks will focus on AI chip market access, semiconductor export restrictions, and the delicate U.S.-China trade truce, in addition to discussions about aircraft and agricultural sales.  
- The summit will also address the Iran conflict, U.S. arms sales to Taiwan, and the economic and political challenges impacting both nations' leaders.

YieldMax NVDA Option Income Strategy ETF

Direxion Daily NVDA Bear 1X ETF

T-Rex 2X Inverse NVIDIA Daily Target ETF

Trump brings Nvidia CEO to high-stakes Beijing summit

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KNOWLEDGE ATLAS(02513) rose 36.9%, with a trading turnover 3.6 Billion HKD, and a year-to-date rose 889.7%. MONTAGE TECH(06809) rose 21.31%, with a trading turnover 2.7 Billion HKD, and a year-to-date rose 368.7%. GEELY AUTO(00175) fell 5.23%, with a trading turnover 2.5 Billion HKD, and a year-to-date rose 19.4%. GANFENGLITHIUM(01772) fell 3.96%, with a trading turnover 1.1 Billion HKD, and a year-to-date rose 54%.

- The Hang Seng Index rose by 0.15%, with a year-to-date increase of 3%.  
- The Hang Seng Tech Index increased by 0.46%, but has seen a year-to-date decline of 7.7%.  
- Notable stock performances include Zhicheng (02513) up 36.9%, with a total increase of 889.7% for the year, while Geely Auto (00175) fell by 5.23%, reflecting a year-to-date increase of 19.4%.

Top Gainers&Losers

MONTAGE TECH

HUAQIN

GIGADEVICE

GEELY AUTO

GANFENGLITHIUM

CPIC

SMIC

TIANQI LITHIUM

Top 5 HK Stock Gainers/Losers (>100B) (5.13)

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KNOWLEDGE ATLAS(02513) rose 36.9%, with a trading turnover 3.6 Billion HKD, and a year-to-date rose 889.7%. HANS CNC(03200) rose 30.91%, with a trading turnover 1.2 Billion HKD, and a year-to-date rose 94.5%. XUNCE(03317) rose 23.88%, with a trading turnover 2.0 Billion HKD, and a year-to-date rose 460.8%.

HANS CNC

XUNCE

ASIA TELE-NET

BWI INT'L

INNOSCIENCE

TIMES ELECTRIC

ZHIDA TECH

Top 10 HK Stock Gainers (5.13)

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On May 13, a comprehensive surge in Hong Kong-listed AI concept stocks drove market strength, with the Hang Seng Tech Index closing up 0.46%. Expectations of NVIDIA CEO Jensen Huang's visit to China and positive developments in the computing power supply chain resonated, sending stocks like KNOWLEDGE ATLAS and Han's CNC soaring. JD-SW jumped over 8% with strong support from major banks after its earnings release, while leaders in the automotive, lithium battery, and consumer sectors, including Pop Mart, retreated collectively

Market Pulse

JD-SW

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Goldman Sachs

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JPMorgan Chase

FIT HON TENG

SICC

HUA HONG SEMI

BYD COMPANY

XL2CSOPHYNIX

HSCEI ETF

Han's CNC

JD-SWR

JD.com

MEITUAN-WR

Meituan

Meituan HK SDR 5to1

POP MART HK SDR 20to1

SMIC HK SDR 5to1

GEELY AUTO-R

GEELY AUTOMOBILE HOLDINGS LIMITED SPON ADS EACH REP 20 ORD

Geely Auto

Montage Technology

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KUAISHOU-WR

JPMORGAN CHASE & CO. 4.20% DEP SHS REPSTG 1/400TH PFD SER MM

JPMORGAN CHASE & CO. 6%NON CUM DEP SHS REP 1/400TH PFD SER EE

JPMORGAN CHASE & CO. DEP REP 1/400TH (5.75% NON CUM PFD DD)

JPMORGAN CHASE & CO. 4.625% DEP SH RE 1/400TH INT NO CU PF LL

JPMorgan Chase & Co.

JPMORGAN CHASE & CO. 4.55% DEP SHS REPSTG 1/400TH PFD SER JJ

JPMORGAN CHASE & CO. 4.75 DEP SHS REP 1/400 NCUM PFD SR GG

Hua Hong

BYD HK SDR 10to1

BYD Company

BYD Company Limited

BYD COMPANY-R

Ganfeng Lithium

HK Stocks Close | Three Major Indices Show Divergent Volatility, AI Wave Sweeps the Market, JD-SW Surges Over 8% Post-Earnings

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On the afternoon of May 13th, the Hong Kong stock market fluctuated within a narrow range, with the Hang Seng Technology Index slightly rising. AI concept stocks and power semiconductors performed well, with KNOWLEDGE ATLAS rising nearly 14% and INNOSCIENCE rising over 17%. The internet platform sector was supported by positive performance, with both JD and Meituan rising. On the other hand, the automotive and lithium battery industry chain corrected, with Geely Automobile falling nearly 6%. The market is focused on the improvement of AI computing power and industry competition landscape

- On May 13, Hong Kong's major indices experience narrow fluctuations, with notable movements in AI and power semiconductor sectors.  
- AI-related stocks see significant gains, with companies like Zhiyin and Innosilicon rising sharply, while the automotive sector declines, highlighted by Geely's nearly 6% drop.  
- Market activity remains strong, driven by earnings reports from JD.com and Meituan, both benefiting from improved operational metrics and reduced competition in the delivery sector.

ChinaAMC SSE STAR Semiconductor Material & Equipment Thematic ETF

Citigroup

UBS Group AG

YOFC

CITIGROUP INC 6.250 NON CUM SER II PFD WI

Times Electric

Hong Kong stocks intraday | The three major indices fluctuate and diverge, AI concepts and power semiconductors strengthen, JD and Meituan rise after earnings

KNOWLEDGE ATLAS rose 17.98%; MINIMAX-W rose 11.15%, with a transaction volume of HKD 877 million; Dipu Technology fell 4.69%, with a transaction volume of HKD 684 million; Haizhi Technology Group fell 3.21%, with a transaction volume of HKD 59.8 million; Jivis rose 4.43%, with a market value of HKD 12 billion

HK Stock Alerts

DEEPEXI TECH

HAIZHI TECH GP

EXTREME VISION

Hong Kong Stock Movement: KNOWLEDGE ATLAS rises 17.98%, accelerated commercialization of the AI industry and optimistic market sentiment drive stock price surge

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SIGENERGY(06656) rose 6.7%, with a trading turnover 173.6 Million HKD, and a year-to-date rose 74.3%. HENGRUI PHARMA(01276) rose 4.84%, with a trading turnover 1.4 Billion HKD, and a year-to-date fell 2.5%. KNOWLEDGE ATLAS(02513) fell 6.56%, with a trading turnover 779.8 Million HKD, and a year-to-date rose 622.9%. MINIMAX-W(00100) fell 6.31%, with a trading turnover 881.7 Million HKD, and a year-to-date rose 318.5%.

SIGENERGY

HENGRUI PHARMA

CRRC

PETROCHINA

FAST RETAIL-DRS

WEICHAI POWER

Top 5 HK Stock Gainers/Losers (>100B) (5.12)

KBAB

BABX

Investor frustration is rising as Hong Kong's tech index continues to decline, contrasting sharply with the surge in Chinese AI stocks. The Hang Seng Tech Index has fallen over 30% since its launch in July 2020, primarily due to structural issues and a lack of AI representation. Analysts suggest that the index's heavyweights, like Tencent and Alibaba, are not benefiting from the AI boom, leading to muted earnings growth. Upcoming additions of AI firms Zhipu AI and MiniMax could reshape the index and attract significant investment inflows, potentially improving its performance.

Chinese AI stocks are surging. So why is Hong Kong’s tech index still falling?

GJKNATL@EC2610B(29272.HK)