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<Research>UBS Still Bullish on KNOWLEDGE ATLAS/ MINIMAX-W; DeepSeek V4 Accelerates CN Computing Resource Adoption
DeepSeek has launched and open-sourced a preview version of its DeepSeek V4 model, according to a UBS research report. Unlike previous single-model upgrades, the V4 model offers tw...
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<Research>UBS Still Bullish on KNOWLEDGE ATLAS/ MINIMAX-W; DeepSeek V4 Accelerates CN Computing Resource Adoption
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DeepSeek has launched and open-sourced a preview version of its DeepSeek V4 model, according to a UBS research report. Unlike previous single-model upgrades, the V4 model offers two versions, namely the V4-Flash and V4-Pro.

In UBS' estimation, the DeepSeek V4 will further consolidate the efficiency advantages of Chinese models and accelerate the adoption of domestic computing resources. Given the V4's tiered strategy and surging AI demand, the broker isn't overly concerned about intensifying competition in China.

Related News CMSI: KNOWLEDGE ATLAS (02513.HK) Breakthrough in Inference Efficiency Further Enhances Commercialization Prospects; Rated Overweight
UBS remains positive on KNOWLEDGE ATLAS (02513.HK)  -23.000 (-1.422%)    Short selling $435.71M; Ratio 8.402%   for sustaining its leading position in coding, MINIMAX-W (00100.HK)  +3.000 (+0.358%)    Short selling $236.78M; Ratio 5.101%   for its differentiated positioning in multimodal areas not particularly emphasized by the V4 model, and BABA-W (09988.HK)  -0.900 (-0.739%)    Short selling $1.44B; Ratio 11.050%   and BIDU-SW (09888.HK)  +4.400 (+3.503%)    Short selling $733.74M; Ratio 17.935%   for their strengths in cloud and chip businesses benefiting from industry tailwinds.

Stock│Investment Rating│Target Price
KNOWLEDGE ATLAS (02513.HK)  -23.000 (-1.422%)    Short selling $435.71M; Ratio 8.402%   │Buy│HKD1,160
MINIMAX-W (00100.HK)  +3.000 (+0.358%)    Short selling $236.78M; Ratio 5.101%   │Buy│HKD1,000
Alibaba (BABA.US)      │Buy│USD170
Baidu (BIDU.US)      │Buy│USD170
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-29 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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