Hong Kong stock large model concept stocks strengthen, Huatai Hong Kong Stock Connect Technology Select Hybrid Initiating C(025545) deep cultivation of industry trends to generate excess returns

On February 24, 2026, Hong Kong stocks related to large model concepts experienced volatile gains, with Zhipu rising over 16% and MINIMAX-WP up more than 7%. According to recent news, on February 22, Zhipu released a technical report on the latest generation foundational model GLM-5, revealing technical details that led to a significant leap in performance. OpenRouter’s latest weekly data shows that the top ten models on the platform have a total token count of approximately 870 billion, with Chinese models dominating at 530 billion, accounting for 61%. Among the top three token call models that week, all were domestic large models, with Zhipu’s GLM-5 ranking third.

Dongguan Securities believes that as domestic models improve in programming and intelligent agent capabilities, their call volumes will increase significantly. Domestic large models in programming and intelligent agents are competing with top global models, which is expected to further accelerate application deployment and increase token consumption.

Focusing on opportunities in Hong Kong stock technology growth, the related product—Huitianfu Hong Kong Stock Connect Technology Select Hybrid Initiator C (025545)—primarily targets high-quality technology assets within the Hong Kong Stock Connect scope. The fund is actively managed with a clear investment logic and focus. At least 60% of the fund’s assets are invested in stocks, with no less than 80% of non-cash assets allocated to Hong Kong Stock Connect target stocks. Additionally, at least 80% of the fund’s assets are invested in technology-themed stocks as defined by the fund.

Huitianfu Hong Kong Stock Technology Allocation Toolbox:

【Hong Kong Stock Technology Broad Market · Classic Vehicle】Huitianfu Hang Seng Tech ETF Link Initiator C (013128): A one-click setup for leading internet platform stocks, serving as a flagship broad-based sector ETF with high industry representativeness. Aims to balance core Hong Kong stock technology assets and capture long-term growth momentum of China’s new economy.

【AI Full Industry Chain · High Purity】Huitianfu Hang Seng Hong Kong Stock Connect China Tech ETF Link C (025167): Focuses on core assets of the “Hong Kong Stock M7,” with deep coverage of AI computing power, terminals, and application industry chains. Pure style, excluding non-tech sectors like healthcare and automotive, making it a precise tool for capturing AI’s core value.

【Selected Core Assets · Active Strategy】Huitianfu Hong Kong Stock Connect Technology Select Hybrid Initiator C (025545): Uses active management within the Hong Kong Stock Connect scope to dynamically select targets with strong competitive barriers and core advantages. Combines industry trend analysis to identify high-potential assets through professional stock selection, aiming for excess returns over the index.