---
title: "CITIC Securities International: Domestic model iteration accelerates valuation recovery of Hong Kong stock technology sector, with Alibaba and Tencent as top picks"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/275725080.md"
description: "CITIC Securities International's research report points out that the model iteration of mainland internet companies has accelerated, enhancing the valuation recovery of the Hong Kong stock technology sector. It highlights companies such as Alibaba, Tencent, and Kuaishou, believing that the investment logic of the AI mainline has significantly strengthened, and future heavyweight models like DeepSeek-V4 and Alibaba Qwen 3.5 will become catalysts. Preferred stocks include Alibaba and Tencent"
datetime: "2026-02-12T08:13:38.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/275725080.md)
  - [en](https://longbridge.com/en/news/275725080.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/275725080.md)
---

> 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/275725080.md) | [English](https://longbridge.com/en/news/275725080.md)


# CITIC Securities International: Domestic model iteration accelerates valuation recovery of Hong Kong stock technology sector, with Alibaba and Tencent as top picks

CITIC Securities International's research report indicates that the model iteration of leading internet companies in mainland China has been full of surprises, including ByteDance's "Seedance 2.0" and Kuaishou (01024.HK) with its "Keling 3.0," which significantly enhances movie-level video generation effects; Alibaba (09988.HK) with "Qwen-Image-2.0" benchmarking "Nano Banana," and its desktop agent tool "Qoder Work" benchmarking "Claude Cowork"; the global model service platform OpenRouter's "Pony Alpha" capabilities approaching Anthropic's "Claude Opus 4.6"; and "Kimi K2.5" topping OpenRouter.

The report states that the AI mainline investment logic of leading internet companies in mainland China has significantly strengthened, aiding the valuation recovery of the Hong Kong stock technology sector. Upcoming heavyweight models include DeepSeek-V4, Alibaba's Qwen 3.5, Doubao 2.0, Mini Max M2.2, etc., which may become catalysts for the next phase. Preferred stocks include Alibaba, Tencent (00700.HK), and Kuaishou

### 相關股票

- [BABA-W (09988.HK)](https://longbridge.com/zh-HK/quote/09988.HK.md)
- [Tencent Holdings Limited (TCTZF.US)](https://longbridge.com/zh-HK/quote/TCTZF.US.md)
- [BABA 2x Long Daily ETF - GraniteShares (BABX.US)](https://longbridge.com/zh-HK/quote/BABX.US.md)
- [Hwabao CSI HK Equities Internet ETF (513770.CN)](https://longbridge.com/zh-HK/quote/513770.CN.md)
- [AXA SPDB CSI Hugangshen Game and Culture Media ETF (517770.CN)](https://longbridge.com/zh-HK/quote/517770.CN.md)
- [TENCENT (00700.HK)](https://longbridge.com/zh-HK/quote/00700.HK.md)
- [CSOP HS TECH (03033.HK)](https://longbridge.com/zh-HK/quote/03033.HK.md)
- [KUAISHOU-W (01024.HK)](https://longbridge.com/zh-HK/quote/01024.HK.md)
- [iShares MSCI China (MCHI.US)](https://longbridge.com/zh-HK/quote/MCHI.US.md)
- [Krne Csi China Internet (KWEB.US)](https://longbridge.com/zh-HK/quote/KWEB.US.md)
- [E Fund CSI HK Connect Internet ETF (513040.CN)](https://longbridge.com/zh-HK/quote/513040.CN.md)
- [Alibaba (BABA.US)](https://longbridge.com/zh-HK/quote/BABA.US.md)
- [Emerging Markets Internet ETF (EMQQ.US)](https://longbridge.com/zh-HK/quote/EMQQ.US.md)
- [KraneShares 2x Long BABA Daily ETF (KBAB.US)](https://longbridge.com/zh-HK/quote/KBAB.US.md)
- [ChinaAMC Hang Seng Internet Technology Industry ETF(QDII) (513330.CN)](https://longbridge.com/zh-HK/quote/513330.CN.md)
- [Tencent (TCEHY.US)](https://longbridge.com/zh-HK/quote/TCEHY.US.md)
- [Harvest Hang Seng SCHK Technology ETF (520670.CN)](https://longbridge.com/zh-HK/quote/520670.CN.md)

## 相關資訊與研究

- [Alibaba Exec Explains Why AI Agents Are The New Employees](https://longbridge.com/zh-HK/news/281049911.md)
- [02:41 ETStairMed Secures RMB 500 Million Financing Led by Alibaba, Joined by Tencent](https://longbridge.com/zh-HK/news/281477414.md)
- [OpenClaw deepens China footprint through native Tencent, ByteDance integrations](https://longbridge.com/zh-HK/news/281519498.md)
- [SGTech launches AI-Ready initiative for SMEs](https://longbridge.com/zh-HK/news/281485464.md)
- [Feiyu Technology Unit Enters Game Business Cooperation Agreement with Tencent Subsidiary](https://longbridge.com/zh-HK/news/281529384.md)