HK Stock Market Move | AI application stocks lead in gains as better-than-expected earnings reports continuously validate industry acceleration. New policies for AI applications are expected to accelerate the commercialization process.

AI application stocks led the gains. As of the time of writing, MININGLAMP-W (02718) rose 12.52% to HKD 55; MARKETINGFORCE (02556) increased 10.75% to HKD 65.95; CHINA LIT (00772) climbed 8.76% to HKD 21.86; MEITU (01357) gained 8.44% to HKD 5.075; and MOBVISTA (01860) was up 6.55% to HKD 10.25. In terms of news, overnight performance in the US AI application sector exceeded expectations, with Snowflake's second-quarter results surpassing estimates, leading to a 16.6% stock price surge. Companies like Samsara and Docusign also reported better-than-expected results and raised their annual guidance, while the IGV software index rose 3.4%, accumulating a 13% gain over the past month. Analysts noted that the strong performance of US AI application companies and the upward revision of guidance are direct catalysts for the recent sustained increases in the sector, validating the commercial logic of downstream AI applications. It is noteworthy that the Ministry of Industry and Information Technology has recently initiated a special action to cultivate AI application service providers, which is expected to accelerate the commercialization of AI across various fields. Ke Yuan Securities believes that the continuous verification of financial reports from US AI application companies shows that large models empower AI applications rather than replace them. Moreover, leading companies providing vertical AI application services in areas such as office, marketing, e-commerce, and entertainment, as well as cloud vendors, are experiencing accelerated business growth alongside improvements in operational efficiency and profit margins. Domestic AI application companies venturing overseas are also likely to witness accelerated growth in performance thanks to AI empowerment.