Zhitong Hong Kong Stock Exchange Unravels | Chips Are Making a Comeback, Gathering Popular Robot Concepts Continue to Heat Up

[Anatomy Dashboard]

Today is the closing day for Hong Kong stocks. There was a wave of appreciation in the afternoon, indicating that bullish sentiment prevailed, closing up 0.86%.

A Foreign Ministry spokesman announced that South Korean President Lee Jae-myung will pay a state visit to China from January 4 to 7, 2026. From the easing of the border conflict between Thailand and Cambodia to South Korea's visit, the Asia-Pacific region remains stable.

The influx of capital boosted the exchange rate. On December 30, the onshore renminbi rose above the 7.0 mark against the US dollar, hitting a maximum of 6.9960, an increase of 0.1%, the highest level since May 17, 2023. It is mainly supported by foreign capital inflows, economic growth recovery expectations, and optimism in the technology sector. At the same time as the exchange rate is rising, the stock market is also following suit.

Regarding the PLA “Justice Mission-2025” exercise in the Eastern War Zone, Trump told reporters in Florida, USA, that he is not worried about the situation around the Taiwan Strait. He has a very good relationship with China, and believes China will not carry out military operations against Taiwan.

This statement is already very clear. The US has shrunk back to North America, and the Asia-Pacific region has no time to take into account; the focus is on the back garden of the home. On December 30, local time, the media quoted people familiar with the matter as saying that due to the Trump administration's blockade and pressure, Venezuela's state-owned refinery has run out of storage space and a continuous backlog of stocks, and the country's National Petroleum Corporation (PDVSA) began shutting down some oil wells in the country on December 28. This will inevitably lead to tight oil supply. CNOOC (00883), Shanghai Petrochemical (00338), and CNPC (00857) all rose 3%.

The four major banks of banks are also rebounding as a whole. China Merchants Bank (03968): It plans to distribute a cash dividend of 1.013 yuan per share for the first half year of 2025, up 1.63% today. These varieties have a supporting effect.

Meanwhile, the market continues to focus on technology. SMIC (688981.SH) announced that its wholly-owned subsidiary SMIC Holdings has entered into new joint ventures and additional capital expansion agreements with the National Integrated Circuit Fund and the National Integrated Circuit Fund Phase II to revise the previous joint venture contract. As a result, SMIC Southern's registered capital will increase from US$6.5 billion to US$10.077.3 billion. The capital increase means that the outlook is positive; at the same time, the listed company plans to issue shares to 5 SMIC North shareholders, including the National Integrated Circuit Fund, to purchase 49% of their shares in SMIC North at a transaction price of 40.601 billion yuan. After the transaction is completed, the listed company's shareholding ratio in SMIC North will increase from 51% to 100%. The acquisition process is also speeding up. Today's increase is over 4%. Huahong Semiconductor (01347) also rose nearly 4%.

There are also media reports that Baidu plans to split its non-wholly-owned subsidiary Kunlunchip (Beijing) Technology Co., Ltd. for an independent listing. If its chip company can go public, then the valuation will have to increase. Baidu Group-SW (09888) also surged nearly 9% today.

Robotics benefits are coming: First, the Trump administration is considering issuing an executive order on robots in 2026; second, there are rumors that recently suppliers have been visiting North America one after another, Tesla Optimus is about to issue a contract, and the market is already warming up. Tesla Optimus suppliers benefit from Sanhua Intelligent Control (02050): On December 29, they spent 49.36 million yuan to buy back 1.0271 million A-shares, which surged more than 12% today.

Vietnam (02432), which promised not to reduce its holdings mentioned yesterday, had another advantage: it has decided to launch an initial public offering of RMB common shares and a listing plan on the Shenzhen Stock Exchange (“Proposed A-share listing”). The board of directors has decided and approved the commencement of work relating to the proposed A-share listing. As the “first cooperative robot company”, it has deployed more than 100,000 robots worldwide and achieved large-scale mass production applications in the field of humanoid robots. Today it surged more than 13%.

In some way, Yubi (09880) announced that Zhou Jian, the founder, chairman of the board of directors and CEO of the company, promised not to reduce his personal holdings of 705.74.35 million H shares within 12 months from December 29, 2025. Today's increase is over 8%.

According to the official WeChat account of Lansi Technology (06613), the company will launch a major debut of high-freedom dexterous hands and head assemblies for humanoid robots at the CES 2026 conference. The stock rose more than 5%. There is also a variety of Innosecco (02577) gallium nitride products that combine the two major scenarios of AI data centers and robots, which surged more than 15%.

AI news is also booming. Before 2026, Meta officially announced the acquisition of AI intelligence company Manus. According to reports, the amount of this acquisition may be as high as several billion dollars. The deal could become Meta's third-largest acquisition since its inception, costing second only to WhatsApp and Scale AI. The inflection point of AI Agent commercialization will arrive with the advent of general-purpose products, and the long-term market space is far from being freed up.

The relevant individual stock company Maifushi (02556) officially released the self-developed AI-AgentForce smart platform version 3.0, announcing that it has reached in-depth strategic cooperation with technology giants such as Baidu Group, Alibaba Cloud, Mu Xi Co., Ltd., OpenText, Beijing Union Guoxin, and Ant Group Ocean Base. Today, it surged more than 11%; the bottom of the fourth paradigm (06682) rose by more than 7%.

Beijing Zhipu Huazhang Technology Co., Ltd. (02513) is now offering shares, which is expected to end on January 5, 2026, and is scheduled to be listed on the Hong Kong Stock Exchange on January 8, 2026. Driven by the big model concept, Shangtang-W (00020) completed a total placement of 1.75 billion shares, with a net capital of HK$3.146 billion, up more than 2% today.

With the exchange rate strengthened, the resource category continued to strengthen. Despite its advantage, Ganfeng Lithium (002460.SZ) announced that on December 29, 2025, the company received a notice of transfer and prosecution from the Yichun Public Security Bureau: the case has been referred to the procuratorial authorities for examination and prosecution due to the suspected crime of insider trading. But this has happened before, and it doesn't affect the overall situation. China Aluminum (02600), Tianqi Lithium (09696), and Luoyang Molybdenum (03993) all increased by more than 4%. Nickel ore Zhongwei New Materials (02579) rose nearly 7%.

Lei Jun, founder of Xiaomi (01810), announced that the New Year's Eve live broadcast will be broadcast at 8 p.m. on December 31. During the live broadcast, engineers will dismantle the Xiaomi YU7 car on site and give explanations. Recently, there have been some negative disturbances, such as holdings reduction, etc., and it is hoped that this live broadcast will restore market confidence. Today's increase is over 2%.

[Section Focus]

The annual Consumer Electronics Show (CES) will kick off in Las Vegas next week. This year's exhibition will focus on showcasing hardware products such as AI smart glasses, humanoid robots, and wearable devices.

Over the years, relying on technological innovation and a strong supply chain, Chinese brands have long been the absolute protagonists of CES. At CES 2025 at the beginning of this year, the proportion of Chinese exhibitors still reached a high level of 30%.

The focus is on the listed companies participating in the exhibition, such as Lansi Technology (06613), Hesai-W (02525), Suteng Juchuang (02498), TCL Electronics (01070), Xiaomi Group-W (01810); other Youqiu Titanium Technology (01478), Shunyu Optics (02382), and Ruisheng Technology (02018).

[Individual Stock Mining]

Sany International (00631): Export volume remains high, and overseas business is growing steadily

Recently, Sany Reloaded's first batch of SRT100S mining cards was officially launched. The company's revenue for the third quarter of 2025 was 5.910 billion yuan, up 14.7% year over year. Net profit for the same period was approximately 406 million yuan, up 14.1% year on year.

Comment: The delivery of this batch of equipment marks key progress in the implementation of Sany Heavy Equipment's intelligent and high-end mining machinery strategy. The company's profit growth in the third quarter was mainly due to large-scale port machinery, oil and gas equipment, overseas mining vehicles and other emerging businesses, reflecting the company's significant progress in diversified business layout and internationalization strategies. The export volume remained high. Leading construction machinery companies continue to grow steadily in overseas markets, with overseas sales accounting for nearly 50% or more.

On July 22, 2024, the company completed the acquisition of the lithium energy business to bring new revenue streams; fully implemented digital intelligent operations, implemented measures to improve quality and efficiency, reduce costs and control costs, and increase the gross margin of TBM, Xiaogang Machinery, oil and gas equipment and silicon energy products. The company was driven by stable demand for tunneling machines, strong growth in large-scale port equipment, and the performance of domestic mining trucks exceeding expectations. The company sells products such as Dagang, Xiaogang, mining vehicles, shearers, and tunneling machines to countries and regions in Asia, Europe, Africa, America, etc.

Looking ahead, in 2025, the company has clear overseas strategic plans, and is highly competitive for overseas products. Highlight products such as steel mining trucks and telescopic forklifts are expected to continue to open up market space and achieve rapid growth in overseas business. The company's overseas business growth is sustainable, and domestic demand for coal mining equipment will gradually stabilize. The traditional peak sales season has arrived, and overall domestic sales of Q4 excavators will remain steady.