Weimob Group rose +12%, funds have clearly returned to the Hong Kong stock AI application sector recently; Caocao Chuxing rose eight to nine points, having just established Zhixing Technology Company to move towards Robotaxi; Jushuitan also rose five to six points, the first decent rebound for the e-commerce SaaS stock after breaking its issue price.
All three are small-cap Hong Kong-listed China concept stocks, with different catalysts. The upward momentum resembles more of a collective pulse of small caps when liquidity recovers. Is the theme genuinely taking off, or is it just a simple rotation of funds? I suspect it's more of the latter, as the commercialization of AI applications and Robotaxi has not yet reached the point of realization.
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