Hong Kong stocks closed (12.27) | The Hang Seng Index fell by 0.04%. The Semiconductors Sector performed strongly. Kingsoft Cloud (03896) stock price hit a historical high.

The Hong Kong stock market experienced a slight dip in the early session but quickly rebounded, with the three major Indices turning positive collectively, and the Hang Seng Index briefly rising over 1%; in the afternoon, the stock index maintained fluctuations, and the Hang Seng Index turned negative again by the end of the session.

Zhitong FinanceDec 27 03:38 ET

ZTE Board Approves Purchase of Raw Materials From Controlling Shareholder

MT NewswiresDec 27 01:57 ET

China Merchants: CHINA TELECOM (00728) and ZTE (00763) have a deep cooperation, empowering the Smart Phone business with large models.

China Merchants stated that large models empower ZTE's Smart Phone Business, creating personalized AI products and services.

Zhitong FinanceDec 27 00:49 ET

Hong Kong stock Concept tracking | Domestic Internet Plus-Related manufacturers are investing heavily in computing power, leading to a significant increase in capital expenditures and promoting the growth of equipment demand (with Concept stocks).

It is expected that over the next five years, the compound growth rate of computing power scale will remain above 50%.

Zhitong FinanceDec 27 00:42 ET

Market movements | ZTE surged nearly 8%, the company promotes large model and self-developed chip Business empowerment.

On the news front, China Great Wall pointed out that in 2024, the company will continue to launch several industry-first products centering on four major technological innovations: AI large models, Satellite communication, 5G-A, and naked-eye 3D. These include the world's first 5G+AI 3D tablet Nubia Pad 3D II, the performance and endurance powerhouse gaming flagship phone Red Magic 9 Pro series, the all-around imaging flagship Nubia Z60 Ultra with AI multi-scenario experience, the small foldable Nubia Flip, and the budget AI Smart Phone Nubia Xiao Niu. In terms of Servers, the company provides high-performance training servers, cost-effective inference servers, plug-and-play training and inference integrated machines, a full range of general-purpose servers, and high-performance file storage to meet the diverse smart computing construction needs from the center to the edge.

Zhitong FinanceDec 26 20:36 ET

[Hong Kong Stock Connect] ZTE (00763) initially rose by 8.41% and established an open smart computing industry alliance with partners.

Golden Finance News | ZTE (00763) is strong at the beginning of trading, as of the time of writing, it has risen by 8.41%, reported at HKD 23.85, with a transaction amount of 0.283 billion HKD. On the news side, ZTE, together with more than forty partners, jointly initiated the Open Computing Industry Alliance (COIA). The inauguration meeting of the alliance will be held in Peking on December 18, 2024. At the inauguration meeting, ZTE's Chief Scientist for Product Planning, Wang Weibin, participated in the alliance's launch ceremony as Vice President. Meng Wei from ZTE, as the Secretary-General of the alliance, shared the alliance's work plan for 2025, stating that the alliance will focus on open source.

Jinwu Financial NewsDec 26 20:36 ET