Goldman Sachs In-Depth Report: Who Will Emerge as the Long-Term Winner in China's AI Large Language Model Industry?

In the foundational large language model segment, Zhipu and DeepSeek are viewed as the most competitive in the long term, while ByteDance leads in multimodal AI. Goldman Sachs believes China’s AI large models have evolved from 'low-cost' to 'highly intelligent,' with open-source models such as Zhipu’s GLM and DeepSeek approaching the performance of the world’s leading closed-source models. Supported by cost advantages, an expanding open-source ecosystem, and international expansion, these models are expected to drive rapid growth in China’s AI market.

wallstreetcnJul 10 22:33

JPMorgan has acquired an additional 30,760,300 shares of other equity in Kuaishou-W (01024.HK), valued at approximately HK$12.79 billion.

Reported on July 10, according to documents disclosed by the Hong Kong Stock Exchange on July 10, JPMorgan purchased an additional 30,760,300 ordinary shares of Kuaishou-W (01024.HK) on July 7, at an average on-exchange price of HK$41.5698 per share and an average off-exchange price of HK$42.8578 per share, for a total value of approximately HK$1.279 billion. Following this acquisition, JPMorgan’s latest holding stands at 232 million shares, increasing its long position from 5.50% to 6.34%. Supplementary information: As of date of

Futu NewsJul 10 17:14

Hong Kong Market Close: Hang Seng Index rises 0.6%; biopharmaceutical and defense stocks surge, while semiconductor chips plunge

On July 10, the three major Hong Kong stock indices surged in the morning session but pared gains in the afternoon, primarily dragged down by a collective sell-off in AI-related heavyweight stocks and semiconductor leaders, which weighed on the technology sector. By the close, the Hang Seng Index and the Hang Seng China Enterprises Index saw their gains narrow to 0.6% and 0.52%, respectively, after having risen nearly 2% intraday. The Hang Seng Tech Index turned negative, closing down 0.21%, following a morning rally of as much as 2.7%. In terms of market performance, most heavyweight tech stocks remained in positive territory, with Xiaomi up 3.36%, and JD.com, Kuaishou, and Alibaba all gaining over 2%. Biotechnology stocks showed renewed strength today, with innovative drug-related concepts posting notable gains. Pork-related stocks, automobile shares, airline stocks, and mainland property developers stayed active throughout the trading day.

Gelonghui FinanceJul 10 16:41

Kuaishou Technology Stock Climbs 2.2% in Hong Kong

Dow JonesJul 10 16:32

Tech and internet stocks continued their recent rebound, as Hong Kong-listed internet giants aggressively implemented AI initiatives, with the Hang Seng Tech Index trading near its lowest valuation in the past decade.

July 10 — Hong Kong-listed tech stocks continued their recent rebound. As of the time of writing, Xiaomi rose nearly 3%, JD.com gained over 3%, Alibaba Group Holding Limited increased by nearly 3%, Kuaishou Technology rose more than 2%, and Baidu, Inc. climbed nearly 2%.

Zhitong FinanceJul 10 13:48

Kuaishou (01024.HK) repurchased 2.355 million shares on Thursday for nearly HK$100 million.

Kuaishou-W (01024.HK) announced that it repurchased 2.355 million shares yesterday (9th), at prices ranging from HK$42.04 to HK$43.22 per share, for a total consideration of HK$999.867 million. Since the share repurchase mandate was approved, the Group has cumulatively repurchased 9.515 million shares, representing 0.2199% of the issued shares.

AASTOCKSJul 10 09:51