Qianbaidu (01028.HK) Analysis of Hong Kong Stock Market Hot Stock Driven by AI Transformation

Qianbaidu (01028.HK) is a consumer retail enterprise mainly engaged in women’s footwear and apparel sales [0]. On December 23, 2025, the company issued an AI transformation strategy announcement, planning to issue 474.5 million non-listed warrants to strategic investors with AI technology industry experience, with an initial exercise price of HK$0.28. The net proceeds of approximately HK$147 million will be used for the application of AI technology in supply chain management, product design, sales and marketing, etc. [2][3]. This announcement coincided with the period when AI concept stocks in the Hong Kong stock market were gaining popularity, becoming the core catalyst for the company’s stock to receive attention recently [0].

From the perspective of price and trading volume: On December 30, 2025, the company’s stock trading volume reached 6.864 million shares (recent peak), with a daily price amplitude of 20.31% and a closing price of HK$0.640; on January 2, 2026 (closed on December 31, 2025 due to holidays), the stock price rebounded 12.5% to HK$0.720, but the trading volume dropped significantly to 335,000 shares [1].

1. Market Trend Correlation
   : The popularity of AI concept stocks in the Hong Kong stock market is an important external driver for Qianbaidu’s stock to receive attention, and the company’s AI transformation strategy exactly aligns with this market sentiment [0].
2. Investor Behavior Analysis
   : The high trading volume on December 30, 2025 may reflect profit-taking or short-term selling pressure from some investors, while the subsequent stock price rebound indicates that there are still funds holding a wait-and-see or cautiously optimistic attitude towards the company’s AI transformation [0].
3. Transformation Challenges
   : The company has no AI technology accumulation; the effect of AI transformation and investment returns have high uncertainty, and its strategic value needs to be evaluated in combination with subsequent actual implementation actions [4].

1. Fundamental Risks
   : The company continues to lose money, with a net profit TTM of -HK$161 million, and insufficient fundamental support [4]; the price-to-book ratio is 1.42, and combined with the current loss situation, there may be a risk of overvaluation.
2. Transformation and Event Risks
   : The effect of AI transformation is difficult to predict; the share placement and warrant issuance (accounting for 16.67% of the enlarged share capital) may dilute the equity of existing shareholders [3].
3. Market Risks
   : Recent price amplitude is large, short-term speculation is strong, and volatility is increasing [1].

The application of AI technology in the consumer retail field (such as intelligent supply chain, personalized marketing, etc.) may improve the company’s operational efficiency and bring new driving factors for business growth [0].

• Qianbaidu (01028.HK) is a women’s footwear and apparel sales enterprise in the Hong Kong stock market’s consumer retail sector, with a current stock price of HK$0.720 (closing on January 2, 2026) [1].
• The AI transformation strategy announcement on December 23, 2025 is the core reason for the company’s stock to become a hot topic recently; the proceeds will be used to explore the application of AI technology in multiple business areas [2][3].
• Recent stock prices have fluctuated significantly, and trading volume shows the characteristics of “volume spike followed by decline and then rebound with reduced volume”, reflecting the complexity of market sentiment [1].
• Investors need to pay close attention to risks such as the company’s continuous losses, uncertainty of AI transformation, and share dilution; at the same time, the potential business optimization opportunities brought by AI transformation are worth tracking [4][0].