Zhipu AI Dominated List of Three New Issues In Hong Kong

Li Chen
08 Jan, 2026
Hong Kong

Stocks in China and Hong Kong turned lower as investors awaited the release of key macroeconomic data.

The Hang Seng Index fell 1.3%, and the mainland-focused CSI 300 index eased 0.5% amid worries about global implications of rising geopolitical tensions.

China's December consumer price inflation is likely to stay below 2%, and producer prices are expected to fall for the 39th consecutive month in the final month of 2025. 

Moreover, the lack of immediate catalysts sapped market sentiment in trading in Hong Kong and mainland China. 

Crude oil edged lower amid worries that slowing global economic growth compounded by rising energy supplies is likely to keep prices under pressure in the first quarter.  

 

China Indexes and Stocks 

The Hang Seng Index decreased 1.3% to 26,124.06, and the mainland-focused CSI 300 index fell 0.5% to 4,753.96. 

Technology and artificial intelligence-linked stocks traded down as the market rally continued to lose steam. 

Lenovo Group Ltd. decreased 5.5% to HK $8.80, SMIC increased 2.2% to HK $76.35, Alibaba Group Holding fell 1.5% to HK $143.70, and Tencent Holdings dropped 1.7% to HK $614.0. 

Three new issues started trading on the Hong Kong Stock Exchange, and foreign investors continued to participate in China-based technology public offerings. 

The maker of medical surgery robots, Shenzhen Edge Medical, priced its offering at HK $43.24 per share, and the company's stock shot up 29% to HK $55.83. 

The robotics company raised HK $1.1 billion in gross proceeds through the sale of 27.72 million shares. 

Shanghai Iluvatar CoreX Semiconductor increased 10% to HK $160.75, and the graphics processor maker priced its initial public offering at HK $144.60 per share. 

The semiconductor company raised HK $3.7 billion in gross proceeds through the sale of 25.4 million shares. 

The Knowledge Atlas Technology Company gained 7% to HK $129.70, and the AI developer of large language models priced its initial public offering at HK $116.20 per share. 

The AI company raised HK $4.3 billion in gross proceeds through the sale of 37.4 million shares. 

The parent company of Zhipu AI, marketed as z.ai, received strong interest from investors, and the public offering was oversubscribed by 1,159 times by retail investors and 14 times by institutional investors.