Cailian Press reported on April 20 (Editor: Hu Jiarong) that the AI sector in Hong Kong's stock market performed strongly again today. The stock price of a company, which was listed only two days ago, $MANYCORE TECH (00068.HK)$ continued to show impressive performance. After recording an astonishing increase of 144% on its debut last Friday, it surged over 85% again today, with cumulative gains exceeding 350%, reflecting the capital market's strong recognition of its development prospects.
Public information shows that Kujitech is a spatial intelligence company with artificial intelligence technology and dedicated Graphics Processing Unit (GPU) clusters as its core foundation. It has successfully built a world simulator system with physical accuracy, showcasing significant technical advantages in virtual space modeling and simulation.
It is worth noting that Kujitech, as the first tech company from the "Hangzhou Six Dragons" to successfully go public on the capital market, marks a milestone in the listing process.
Other members of the "Six Dragons" are also accelerating their capitalization plans: Unitree Robotics' IPO application for the STAR Market has been officially accepted by the exchange; DeepRobotics submitted IPO tutoring filing materials to the Zhejiang Securities Regulatory Bureau in December 2025, with the tutoring period expected to conclude between April and June 2026, paving the way for an A-share filing mid-year; according to market reports, BrainCo has secretly filed for listing with the Hong Kong Stock Exchange. The capitalization process of Hangzhou’s technology innovation cluster is gaining momentum across the board.
Reports indicate that DeepSeek is initiating its first external equity financing.
In addition to individual stock catalysts, market news has also driven gains in AI application stocks.
According to relevant media reports, DeepSeek, a leading Chinese large-scale model company, is launching its first external equity financing since its establishment. This round of financing values the company at over $10 billion, with plans to raise no less than $300 million. Industry analysis suggests that this capital strategy adjustment stems from two main pressures: addressing the increasingly high costs of large-scale model development, and countering intensifying technological and talent competition by expanding computing power investments and enhancing compensation packages for top talent.
Moreover, the latest "2026 Artificial Intelligence Index Report" released by Stanford University's Artificial Intelligence Institute shows that the technological gap between China and the US in top-tier large-scale models has been "substantively eliminated," with leading models now running neck-and-neck. The report further reveals that among the top 20 global AI research institutions, 11 are from China, surpassing the US in number. Notably, Alibaba ranks third in the 2025 Global Top Model Contributions list, becoming the Chinese tech company with the most selected key models.
According to the Arena leaderboard, a clear hierarchy has emerged in the current global AI competitive landscape: Anthropic, xAI, Google, OpenAI from the United States, and Alibaba, DeepSeek from China constitute the first tier. Notably, the focus of industry competition is gradually shifting from a pure comparison of technical performance to a comprehensive evaluation of cost control, system reliability, and real-world application value.
Editor/Jayden