HK Stock Market Move | Most AI application concepts are on the rise, with large AI models both domestically and internationally undergoing accelerated iterations. Institutions believe that AI applications are expected to reach a commercial turning point.

Concept stocks related to AI applications mostly rose, as of the time of writing, AINNOVATION (02121) rose by 6.85% to 5.93 Hong Kong dollars; BABA-W (09988) rose by 4.54% to 154.3 Hong Kong dollars; KUAISHOU-W (01024) rose by 4.38% to 66.8 Hong Kong dollars; MEITU (01357) rose by 3.21% to 8.04 Hong Kong dollars; CHINA LIT (00772) rose by 3.56% to 36.1 Hong Kong dollars. On the news front, recently, there have been frequent positive developments in the field of AI applications. Overseas, Google released Gemini3 and Nano Banana Pro on November 19th and 20th respectively, with performance fully surpassing. Domestically, Alibaba's AI assistant Thousand Questions App has surpassed 10 million downloads in one week, surpassing ChatGPT, Sora, and DeepSeek to become the fastest-growing AI application in history. In addition, Ant Lighting App has exceeded 1 million downloads in 4 days after launch, rising to sixth place on the App Store China Free Lists. Industrial believes that with the continuous breakthrough in model capabilities, AI applications are expected to reach a commercial inflection point, accelerating the closure of the AI industry loop. Bohai Securities believes that recently, leading domestic and foreign model manufacturers such as Baidu, Alibaba, and Google have successively iterated on AI large model products, intensifying global competition in the field of large models and driving the acceleration of technological innovation and application landing. Domestic large models have continuously broken through in technological iterations, steadily improving their core capabilities, and have successfully entered the top tier of global large models. At the same time, the adaptability between domestic large models and domestic acceleration computing chips is continuously optimized, forming a synergistic advantage between algorithms and hardware, laying a solid foundation for the large-scale landing of thousands of industries.