Selected HK Stock Announcements | Sino Biopharm Plans to Increase Stake in Chia Tai Tianqing for Approximately RMB 4.5 Billion; Seazen Holdings' Sales Exceed RMB 8 Billion in First Eight Months

1. Sino Biopharm plans to increase its stake in Chia Tai Tianqing for approximately RMB 4.5 billion; what are the key highlights? 2. Seazen Holdings recorded sales exceeding RMB 8 billion in the first eight months of the year; what was the year-on-year growth rate?

cls.cnSep 11 20:38

Zhitong HK Stock Market Analysis | Inflation Data Guides Rate Hike Trades; Physical AI Sector Shows Strong Activity

In this environment, we maintain yesterday's view that southbound capital remains active. Focus continues to be on the volatility seen within the batch of stocks newly included in the Stock Connect program.

Zhitong FinanceSep 11 20:12

Zhitong Stock Connect Active Trades | September 11

Active Trading in Stock Connect (Hong Kong) | September 11, 2026

Zhitong FinanceSep 11 19:00

Express News | Tencent's T1 Model Specializes in Long-Horizon Agent Tasks: Executes Over 300 Consecutive Operational Rounds, Boosting Benchmark Scores by 20 Points

On September 11, Tencent fine-tuned the Qwen3.5-122B-A10B model specifically for terminal agents, resulting in the development of T1. This model primarily handles complex tasks within Linux terminals, capable of consecutively invoking tools for over 300 rounds in a single task. Its score on Terminal-Bench 2.1 rose from 43.8% for the base model to 64.0%, an increase of 20.2 percentage points. The majority of this 20.2-point gain was driven by reinforcement learning. Supervised Fine-Tuning (SFT) only raised the score to 49.4%, with subsequent reinforcement learning contributing an additional 14.6 points. The team prepared approximately 15,000 terminal tasks, each equipped with automated testing. Even if the agent does not complete the entire task, it can still receive corresponding rewards for fulfilling partial requirements. Long-horizon tasks present another challenge: during actual execution and subsequent training on that experience, the same content may be tokenized differently, and the Mixture of Experts (MoE) architecture may select different experts for processing. To address this, T1 records the tokens generated and the experts selected at the time of inference, replaying them directly during training. This approach reduces the training-inference discrepancy by approximately one-third.

BreakingsSep 11 18:42

Southbound Capital Flows | Net Southbound Buying Reaches HK$4.431 Billion; New FCC Rules Do Not Restrict Domestic Optical Communication Firms; Southbound Capital Aggressively Accumulates Zhongji Innolight (03308) with Over HK$600 Million

On September 11, southbound capital recorded net purchases of HK$4.431 billion in the Hong Kong stock market. Of this, the Shanghai-Hong Kong Stock Connect saw net purchases of HK$3.192 billion, while the Shenzhen-Hong Kong Stock Connect saw net purchases of HK$1.239 billion.

Zhitong FinanceSep 11 17:47

Tencent: Repurchased 235,000 shares at a cost of HK$100 million

Gelonghui, September 11 – According to HKEX filings, Tencent (0700.HK) repurchased 235,000 shares on September 11, at a cost of HK$100.5 million.

Gelonghui FinanceSep 11 17:34