Hong Kong stock concept tracking | Large model technology accelerates landing AI application companies embrace development opportunities (with concept stocks)

OpenAI officially launched the o1 version and other technological innovations at the release event on December 12, 2024, such as Sora Turbo, advanced speech and visual capabilities, as well as tools like Canvas, Projects, and search features, significantly improving AI performance and user experience, further driving the commercialization process. Big model companies are accelerating the release of software features, adapting to various ecosystems and application environments. Google launched the Gemini 2.0 Flash version, Anthropic introduced Compute Use; OpenAI released ChatGPT iOS version, Canvas. B-side SaaS companies are quickly advancing their understanding and technological level of Agents, with companies like Workday, Salesforce, and others accelerating the launch of Agent products and beginning to explore the monetization of AI Agents, leading to a simultaneous increase in company valuations. Project-based AI companies and AI advertising platforms are leading in landing speed. In FY24Q3, AI service provider Palantir achieved revenue of $726 million, a 30% year-on-year increase, significantly exceeding previous guidance, mainly due to continued investment in government AI projects. AI advertising platform company Applovin also exceeded profit expectations in FY24Q3, driving advertising platform efficiency through AI technology. Applovin's penetration rate among e-commerce clients has rapidly increased, demonstrating clear disruption in vertical industry business models by AI. CITIC SEC research believes that Chinese companies are actively following suit in related directions and, through the rapid iteration capabilities of domestic tech companies, are expected to further accelerate the development of an AI ecosystem independent of the US. CITIC SEC reports that in observing the 2025 global technology market investment, from a market perspective, Chinese technology assets offer better investment value than American assets. In the Chinese technology sector, CITIC SEC considers Chinese internet companies listed abroad as their top choice, urging investors to pay attention to the sector's prospects for short-term macroeconomic recovery and policy stimulus that contribute to turning points in performance, as well as the continuous prosperity of the AI ecosystem in the medium to long term, offering opportunities for valuation reshaping, and being optimistic about investment opportunities in the Chinese domestic AI industry chain. Hong Kong-listed AI-related companies: MOBVISTA (01860): MOBVISTA is a leading global mobile advertising and marketing technology platform that previously focused on serving mobile app developers and helping Chinese developers go overseas through advertising alliance business. In recent years, the company has expanded its marketing technology services and layout of SaaS tools ecosystem using its accumulated technological expertise in global programmatic advertising and AI-driven innovation. Guo Zheng International believes that the company is continuously increasing its investment in research and development and gradually achieving impressive results. With the upgrade and iteration of platform algorithm capabilities and improvement in the industry environment, the bank believes that the company will show better performance. AINNOVATION (02121): In the first half of this year, AINNOVATION established a comprehensive industrial big model technology product matrix, including ChatVision for generative enterprise private domain visual insights, ChatRobot Pro for generative industrial Siasun Robot&Automation dispatches, and ChatCAD for generative assisted industrial design AIGC applications. Haitong believes that the company currently has a relatively healthy financial condition in the AI sector, and as industrial digital transformation continues to deepen, it will drive the company's future growth. KINGSOFT CLOUD (03896): On November 19, KINGSOFT CLOUD announced a new framework agreement with Xiaomi, with suggested annual caps for 2025-2027 of 23.10 billion yuan, 31.38 billion yuan, and 40.35 billion yuan. GF SEC sees potential demand for computing power after Xiaomi integrates AI deeply into its ecosystem. UBS published a research report stating that KINGSOFT CLOUD is benefiting from AI development and support from the Kingsoft ecosystem, with a solid performance in the third quarter, exceeding market expectations, helping to raise investor expectations for its revenue and profit recovery. The bank believes that KINGSOFT CLOUD's current stock price remains lower than independent cloud companies in China and that the market undervalues the potential development opportunities for Kingsoft and its AI business. FOURTH PARADIGM (06682): The "Prophet AI Platform 5.0" has achieved end-to-end capabilities in computing power, platform, model, and application layers. According to data from the international authoritative research institution IDC, FOURTH PARADIGM has been a consistent leader in China's machine learning platform market share for six consecutive years. The company's core product, the "FOURTH PARADIGM Prophet AI Platform," can support the application of large models in the industry, and its innovative "Prophet Inside" model efficiently builds more than 40 AI products, including intelligent mouse solutions, intelligent meeting solutions, and more, meeting the needs of enterprises for applications, platforms, and infrastructure in the process of building large models in the industry, expanding the potential for AI technology to empower thousands of industries.