Hong Kong-listed AI stocks rose on June 22 after Zhipu, one of China’s top large-model developers, released GLM-5.2, and JP Morgan published a research note on China’s AI sector.

As of press time, newly listed Haiqing Zhiyuan was up 255.83%, Zhipu rose 15.76%, and MINIMAX-W gained 13.75%.

Zhipu, a Beijing-based company said GLM-5.2 uses a mixture-of-experts architecture with 744 billion total parameters, about 40 billion active parameters, and support for 1 million tokens of context.

Haiqing Zhiyuan’s surge followed a Hong Kong initial public offering that was oversubscribed 7,181.21x in the public tranche and 4.81x in the international placing.

JP Morgan said China’s AI ecosystem has competitive advantages, supported by the country’s lower-cost open-source and open-weight models.

The bank also highlighted opportunities across the AI supply chain and data center buildout.

🔗 Source: Cailianshe

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