HK Stock Market Move | KINGDEE INT'L (00268) surged over 20% with full access to DeepSeek's large model, indicating that domestic substitution remains crucial.

KINGDEE INT'L (00268) surged by more than 20%, reaching a 16.14% increase as of the time of reporting, to 12.52 Hong Kong dollars, with a trading volume of 1.362 billion Hong Kong dollars. On the news front, KINGDEE INT'L recently announced that DeepSeek has been fully integrated into the Kingdee Cloud SaaS applications and the Kingdee Cloud Azure platform, providing customers with more efficient, secure, and cost-effective intelligent solutions. With the powerful general intelligence and reasoning capabilities of DeepSeek, Kingdee will further help Chinese enterprises accelerate the application of AI. The company pointed out that the Azure platform also supports multi-model hybrid applications and can adapt models more quickly to upgrade iterations based on customer needs. A Lyon research report pointed out that the breakthrough of DeepSeek indicates a booming development in the application layer of artificial intelligence (AI) software, as software vendors can use high-performance large language models (LLMs) at a lower cost. It also makes it easier for software vendors to integrate AI capabilities into their products, bringing more profitable monetization prospects. The report believes that the latest advances in AI technology may exacerbate the US-China tech war, making "domestic substitution" still crucial. Among the stocks covered by the report, KINGDEE INT'L and other stocks are seen as the main beneficiaries.