Before the upcoming 2026 World Artificial Intelligence Conference (WAIC2026), AI-related large model concept stocks on the Hong Kong stock market experienced a collective rise. On July 15, the stock of MINIMAX-W (00100.HK) surged by 12.52%, Zhipu (02513.HK) rose by 8.81%, and Qunhe Technology (00068.HK) increased by 6.11%. This surge was mainly driven by positive news from the conference and upward revisions of target prices by major financial institutions.

The WAIC2026 will be held in Shanghai from July 17 to 20, focusing on three core areas of artificial intelligence and featuring as many as 112 forums, accounting for 64% of the total. This conference has particularly attracted attention in the fields of AI intelligent computing and embodied intelligence, with over 200 companies participating. China Securities stated that with continuous upgrades in large models, AI infrastructure, and computing chips, the prospects for the domestic computing power industry remain optimistic.

The four key highlights of the conference include:

1. The release of new computing chips, with leading companies like Tianshu Zhixin launching new products to accelerate commercialization.

2. The appearance of super nodes, including those with ten thousand or even hundred thousand GPUs, which will attract attention.

3. The accelerated deployment of AI at the edge and applications, gradually moving toward maturity.

4. The concentrated display of cutting-edge technologies related to large models and other AI infrastructure, supporting technological innovation.

Zhipu and MINIMAX showed particularly strong stock performance. According to Morgan Stanley's latest report, Zhipu's target price was raised from 2000 HKD to 2400 HKD, and it was given an "overweight" rating. The report pointed out that the basic model industry has entered a capital-intensive development stage, and the ability to secure funding has become increasingly important.

Zhipu recently completed the placement of 19.78 million new H-shares, raising about 31.41 billion HKD, with the funds used for general AI R&D and business expansion. This indicates market recognition of Zhipu's future growth potential.

Meanwhile, MINIMAX also drew significant attention. In a research report, China International Capital Corporation mentioned that as a rare asset in the AI large model field, MINIMAX has shown high growth potential. Although its R&D investment has led to increased short-term losses, the company's revenue increased by 159% year-on-year in FY2025, demonstrating strong market competitiveness.

In summary, the holding of WAIC2026 not only provides a platform for relevant enterprises but also injects new vitality into the capital market, driving a strong rebound in large model concept stocks.