The rebound of Hong Kong stocks drives the strength of semi new stocks! MiniMax、 Zhipu has surged by 30%!

The overall improvement of the market has laid the foundation for the strengthening of Hong Kong stocks and semi new stocks. Recently, the rebound of A-shares and the emergence of profitable effects have driven the allocation of mainland funds to Hong Kong stocks; The external market remains stable, and international capital risk appetite has rebounded, bringing incremental funds to the Hong Kong stock market. Under multiple favorable conditions, Hong Kong stock market sentiment has recovered, and the Hang Seng Index has broken through key levels. Among heavyweight stocks, Meituan benefited from consumption recovery and business optimization, rebounded 5% to drive the Internet sector stronger and activate market vitality.

AI semi new stocks lead the way, with MiniMax and Zhipu performing outstandingly. As new members of the Hong Kong stock market, the two companies have been sought after by funds due to the high growth and technological scarcity of the AI industry, with an early increase of over 30%. The current global AI technology iteration is accelerating and commercial scenarios are expanding, and the industry has entered a period of rapid development, with market growth expectations heating up. MiniMax and Zhipu, as leading domestic AI model enterprises, have advantages in breaking through the C-end circle and landing MaaS services on the B-end respectively. Their core data is impressive: MiniMax's C-end and overseas revenue accounted for over 70% in the first three quarters of 2025; The annualized revenue of Zhipu MaaSARR has increased from 20 million to over 500 million, which is the core support for the strong stock price.

The controversy surrounding the pursuit of semi new stocks has escalated, with the core being the balance between opportunities and risks. Market divergence is evident: Supporters believe that with positive market sentiment and high industry prosperity, high-quality semi new stocks have sustained upward momentum, and AI leaders are expected to further open up valuations; Opponents point out that the volatility of semi new stocks is high, with the current 30% increase partially exceeding expectations, and AI companies generally continue to suffer losses. MiniMax and Zhipu have accumulated losses of over 6 billion yuan, putting great pressure on short-term profits, and blindly chasing high prices may lead to a trap.

In response to the confusion, Tang Niu provides professional analysis and suggestions. He stated that investing in semi new stocks requires a comprehensive assessment of market environment, industry prosperity, and corporate fundamentals, and should not blindly chase after price increases. The high prosperity of the AI industry is clear, but not all semi new stocks have investment value. Focus on three core areas: first, core technological barriers; Secondly, commercialization progress, whether it can be converted into sustained revenue and profitability; Third, the valuation is reasonable to avoid foam.

In terms of investment strategy, Tang Niu offers three suggestions: firstly, refuse to blindly chase high prices, lay out in batches, be optimistic about the target and wait for a pullback to intervene, test small positions in strong stocks, and avoid heavy positions in a single target; Secondly, focus on high-quality targets, adhere to value logic, prioritize selecting targets with high industry prosperity, core competitiveness, and clear commercialization, and track MiniMax's global C-end expansion and Zhipu B-end customer expansion; Thirdly, do a good job in risk control, set profit taking and stop loss, clarify risk tolerance, timely exit when reaching stop loss or fundamental deterioration, and achieve profit targets by taking profits in batches.