CIPHANC@EC2603A

Fashisi Leading (Shenzhen) Holding Co., Ltd. Wholly Founded by Fashisi Intelligent

Fanzhi Smart Releases Phanthy Cloud Cloud Product, Enterprises Enter New Era of Cloud Services

Fan Shi Yao Pan Technology Co., Ltd. Established, Mainly Engaged in Artificial Intelligence Related Businesses

Fourth Paradigm Shareholders Approve Company Name Change and Board Update

Fourth Paradigm and Micro-Crack Technology's AI Smart Glasses Patent Granted

Jinan Mengruiyi Technology Partnership Established with a Capital of 190 Million Yuan

Jinan Junchuan Technology Partnership Established by Fourth Paradigm and Hibeisc, etc.

Huatai Securities Maintains Buy Rating and Sets Target Price for Fourth Paradigm's H Shares

Huaying Group AlloyX Partners with Fourth Paradigm to Form AI + Blockchain Joint Venture

Fourth Paradigm Announces Q3 2025 Earnings, AI Platform Revenue Up 70.1%

Fourth Paradigm reports 36.8% revenue growth in Q3 2025, achieves first quarterly profit

Fourth Paradigm Sees Significant Revenue Growth, Recording 26.26 Billion RMB in H1 2025

Fourth Paradigm Launches ModelHub XC Platform and Compatibility Value-added Services

Fourth Paradigm Reports Strong Mid-Year 2025 Earnings

CITIC Securities Gives Fourth Paradigm an Overweight Rating

Multiple Brokers Upgrade Fourth Paradigm's Target Price, Optimistic About AI Growth Potential

4Paradigm Announces First Half of 2025 Interim Performance Report

Nomura Reiterates Buy Rating on Fourth Paradigm

CMBI Upgrades Fourth Paradigm's Revenue Outlook for 2025-2027 and Maintains Buy Rating

Sai Shuo Navigating (Shenzhen) Artificial Intelligence Co., Ltd established, Indirectly Fully Owned by Fourth Paradigm Technology Co., Ltd

GUANZE MEDICAL

PCPD

STARCOIN GROUP

HUILI RES

TIMES UNI GP

MANY IDEA CLOUD

WALNUT CAP

SILKWAVE INC

HUA LIEN INT'L

WAI CHUN GROUP

00HSI

STECH

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36Kr learned that the Hang Seng Index fell by 1.21%, and the Hang Seng TECH Index dropped by 1.11%; the GEO concept led the decline, with KNOWLEDGE ATLAS down over 6%, MINIMAX-WP and PHANCY down over 5%; consumer and automotive stocks strengthened, with Nio and Cha Bai Dao rising over 6%, and Li Auto and GUMING rising over 3%; southbound funds had a net purchase of HKD 14.859 billion

36Kr

Hang Seng Index

Hang Seng TECH Index

GUMING

KNOWLEDGE ATLAS

PHANCY

MINIMAX-WP

Guotai CSI 800 Automobile and Parts ETF

E Fund CSI Auto Components Thematic ETF

E Fund CSI HK Equities Consumption Theme ETF

ChinaAMC CSI Hong Kong Connect Automobile Industry Thematic ETF

HFT CSI Auto Components Thematic ETF

Yinhua CSI HK Equities Consumption Theme ETF

ChinaAMC CSI Auto Components Thematic ETF

Hua Xia CSI New Energy Vehicles ETF

Ping An CSI Auto Components Thematic ETF

ChinaAMC CSI HK Connect Consumption Theme ETF

ChinaAMC CSI Food & Beverage Sub-Industry ETF

Hwabao WP CSI Intelligent Electric Vehicle ETF

LI AUTO-W

NIO-SW

The Hang Seng Index closed down 1.21%, and the Hang Seng TECH Index fell 1.11%

IG Design Group PLC announced the results of its Extraordinary General Meeting held on February 4, 2026. All resolutions were passed with overwhelming support, including the adoption of new articles of association, a bonus issue of deferred shares, and a proposed capital reduction. The voting results showed 99.97% approval for each resolution, with a total of 98,308,142 ordinary shares eligible for voting. Further details can be found on the company's website.

London Stock Exchange

IG Group Holdings plc

IP Group plc

REG - IG Design Group PLC - Results of Extraordinary General Meeting

Phancy Group Co. Ltd. has announced the resignation of Mr. Peng Jun as joint company secretary, effective January 26, 2026, due to work adjustment. Ms. Yeung Siu Wai Kitty will take over as the sole company secretary, with Mr. Liu Nan as her contact. No other management or board changes were mentioned.

Reuters

Phancy Group Co. Ltd. Joint Company Secretary Peng Jun Resigns

Phancy Group Co., Ltd. has officially rebranded from Beijing Fourth Paradigm Technology Co., Ltd., effective January 7, 2026. The change will not affect shareholders' rights or operations, and existing share certificates remain valid. The stock short name on the Hong Kong Stock Exchange will change from "FOURTH PARADIGM" to "PHANCY" on January 20, 2026, while the stock code 6682 will remain unchanged. The latest analyst rating for the stock is a Hold with a price target of HK$58.00.

Tip Ranks

Phancy Group Rebrands From Fourth Paradigm, Changes Hong Kong Stock Short Name

Beijing 4Paradigm Intelligent Technology Co. Ltd. has officially changed its English name to Phancy Group Co., Ltd. Consequently, the company's stock short name on the Hong Kong Stock Exchange will be updated from "FOURTH PARADIGM" to "PHANCY."

Beijing 4Paradigm Renames as Phancy Group

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MARKETINGFORCE(02556) rose 32.09%, with a trading turnover 984.3 Million HKD, and a year-to-date rose 46.3%. KNOWLEDGE ATLAS(02513) rose 31.4%, with a trading turnover 2.0 Billion HKD, and a year-to-date rose 79.3%. AFFLUENT FDN(01757) rose 25.43%, with a trading turnover 24.2 Million HKD, and a year-to-date rose 91.2%.

Top Gainers & Losers

MARKETINGFORCE

AFFLUENT FDN

WEIMOB INC

APAC RESOURCES

BIREN TECH

APT SATELLITE

RIMAG GROUP

INSILICO

Top 10 HK Stock Gainers (1.12)

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Hong Kong stock market overview in the past hour: The Hong Kong stock market has shown a significant sector rotation in the past hour, with technology and pharmaceutical stocks performing particularly well. Capital flow has concentrated on small-cap stocks and thematic stocks, and market sentiment is relatively active. Overall, there is a clear differentiation between strong and weak stocks, with some individual stocks seeing significant gains while others are under pressure. Short-term enthusiasm is high, and volatility is large. The stock with the biggest movement in the past hour is SYNAGISTICS, which surged 30.69%, becoming the market focus. The stock rapidly increased in a short time, with noticeable capital inflow, driving the activity of related sectors. Strong stocks: 1. INSILICO: up 20.11%, driven by short-term capital, with high market attention. 2. APT SATELLITE: up 19.96%, driven by sector rotation, with noticeable capital inflow. 3. FOURTH PARADIGM: up 19.06%, strong technical performance, with high short-term enthusiasm. 4. OPTIMA AUTO: up 18.42%, positive market sentiment, with capital chasing. 5. RIMAG GROUP: up 17.25%, outstanding performance in the pharmaceutical sector, with capital inflow. 6. C STRATEGIC TEC: up 16.84%, driven by short-term capital, with high market attention. 7. JINXUN RESOURCE: up 16.35%, strong performance in resource stocks, with noticeable capital inflow. 8. CDAYENONFER: up 15.70%, active performance in the non-ferrous metal sector, with capital chasing. 9. GCL NEWENERGY: up 15.22%, outstanding performance in the new energy sector, with capital inflow. 10. KINGSOFT CLOUD: up 15.20%, strong performance in technology stocks, with high market attention

HK Stock Movers Tracker

SYNAGISTICS

OPTIMA AUTO

C STRATEGIC TEC

KAISUN HOLDINGS

JINXUN RESOURCE

CDAYENONFER

GCL NEWENERGY

KINGSOFT CLOUD

THELLOY DEV

XUNFEIHEALTH

MEITU

RIBOLIFE-B

ALI HEALTH

WEBX INTL HLDGS

Hong Kong Stock Movement Quick Report: SYNAGISTICS surged 30%, tech stocks lead the rise, KAISUN HOLDINGS fell 16%

FOURTH PARADIGM rose 18.46%; Horizon Robotics-W fell 5.24%, with a transaction volume of HKD 2.553 billion; SenseTime-W rose 5.67%, with a transaction volume of HKD 2.227 billion; Weimob Group surged 22.39%, with a transaction volume of HKD 1.372 billion; Pony.ai-W fell 1.17%, with a market value of HKD 58.5 billion

Hong Kong Stock Movement: MiniMax's listing on the Hong Kong Stock Exchange ignites the market, Fourth Paradigm's stock price soars by 18.46%

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INNOSCIENCE(02577) rose 15.35%, with a trading turnover 833.2 Million HKD, and a year-to-date rose 150.1%. DOBOT(02432) rose 13.45%, with a trading turnover 873.5 Million HKD, and a year-to-date rose 62.3%. SANHUA(02050) rose 12.53%, with a trading turnover 2.3 Billion HKD, and a year-to-date rose 71.6%.

INNOSCIENCE

DOBOT

SANHUA

EASY SMART GP

NUOBIKAN

GUAN CHAO HLDGS

BIDU-SW

UBTECH ROBOTICS

Top 10 HK Stock Gainers (12.30)

Beijing Fourth Paradigm Technology Co., Ltd. announced that shareholders approved all resolutions at its extraordinary general meeting on December 19, 2025. This includes a name change, board refresh with Mr. Pan Jialin as an independent director, and amendments to the Articles of Association, all receiving over 99% approval. These changes reflect strong shareholder support for governance and structural adjustments, potentially impacting its market positioning in Hong Kong and mainland China.

Fourth Paradigm Wins Strong Shareholder Backing for Name Change, Board Refresh and Articles Amendments

Beijing Fourth Paradigm Technology Co. Ltd. has announced its board composition, led by Dr. Dai Wenyuan, and detailed the roles within its Audit, Remuneration, and Nomination committees. This announcement aims to enhance transparency in its corporate governance. The company is listed in Hong Kong under stock code 6682, with a recent analyst rating of 'Hold' and a price target of HK$45.00.

Fourth Paradigm Discloses Board Line-up and Committee Roles

After the market closed on November 20, FOURTH PARADIGM (6682.HK) showed a weak decline throughout the day, with the AI and big data sectors generally performing poorly. The stock opened lower and continued to decline, with both bulls and bears mainly observing, and there was no effective rebound throughout the day. The MACD death cross signal remains, and the stock price has approached the previous low multiple times, with the market paying attention to whether there will be funds entering the market to support the price in the short term. Recently, there has been a basic lack of hot topics in the AI sector, with mainstream funds rotating between sectors, favoring some high-growth tech stocks, while funds in the big data and AI sectors remain weak. There are currently no significant announcements from the company, and the impact of AI technology progress on the company's valuation is difficult to realize in the short term, leading to a passive overall logic. The market mainly follows the fluctuations in the overall market sentiment, lacking dominant incremental news. 

On the technical side, the lower Bollinger Band and previous lows are being tested repeatedly, with thin support and shrinking volume. Right-side trading funds remain defensive, and intraday fluctuations are mostly passive follow-ups, with the rebound window relying heavily on macro or sectoral positive news. Overall risk sentiment is heating up, and it is crucial to pay close attention to volume anomalies and sentiment changes. If negative events are transmitted within the industry or market, the downward trend may easily amplify. For short-term operations, it is recommended to continue observing, focusing on industry policies and event catalysts, and waiting for structural turning signals. Only with an effective rebound in the overall market or large AI-weighted stocks can FOURTH PARADIGM potentially welcome a high-elasticity recovery

Technical Forecast

Morning Trend | FOURTH PARADIGM falls close to previous lows, is risk sentiment in the AI sector heating up again?

Huatai Securities has maintained a Buy rating for Beijing Fourth Paradigm Technology Co. Ltd. Class H, setting a price target of HK$87.00. The company's shares closed at HK$52.90. Analysts generally suggest a Strong Buy consensus with an average price target of HK$76.11.

New Buy Rating for Beijing Fourth Paradigm Technology Co. Ltd. Class H (6682), the Technology Giant

Beijing Fourth Paradigm Technology Co., Ltd. reported a 36.8% year-on-year revenue growth for Q3 2025, achieving its first quarterly profit. R&D expenses rose to RMB1,489.0 million, with a ratio of 33.8%, down 8.9 percentage points from the previous year. The company continues to lead China's machine learning platform market, transitioning manual operations to AIGS service subscriptions, enhancing automation and efficiency. The results are based on management accounts and are unaudited.

Fourth Paradigm Reports 36.8% Year-on-Year Revenue Growth and Achieves First Quarterly Profit

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The latest third-quarter report shows that the China Europe Digital Economy Fund managed by Feng Ludan has increased in size from 1.5 billion yuan to 13 billion yuan, with a year-to-date increase of over 131.5%. The fund focuses on AI infrastructure, intelligent robotics, AI applications, edge AI, and the domestic AI industry chain. In the third quarter adjustment, it slightly reduced its position in AI infrastructure while increasing allocations in intelligent robotics and edge AI, optimizing the AI application portfolio. Feng Ludan pointed out that the AI industry is accelerating its development, with technology companies actively expanding new scenarios, driving AI technology to reshape the traditional internet

- The article discusses the significant growth of the China Europe Digital Economy Fund managed by Feng Ludan, which increased from 1.5 billion to over 13 billion yuan in 2023.  
- The fund's success is attributed to its focus on five core investment areas, including AI infrastructure and applications, amidst a booming AI market.  
- Feng Ludan advises investors to diversify their portfolios due to the high valuations in the AI sector, which pose both opportunities and risks.

Wallstreetcn

VeriSilicon

Sanhua

The top three leading funds announced their holdings: increasing allocation to intelligent robots and edge AI

CIPHANC@EC2603A(20020.HK)

The Hang Seng Index closed down 1.21%, and the Hang Seng TECH Index fell 1.11%

REG - IG Design Group PLC - Results of Extraordinary General Meeting

Phancy Group Co. Ltd. Joint Company Secretary Peng Jun Resigns

Phancy Group Rebrands From Fourth Paradigm, Changes Hong Kong Stock Short Name

Beijing 4Paradigm Renames as Phancy Group