HK Stock Market Move | MEITUAN-W(03690) surged over 4% in the afternoon. The new generation of the large basic model LongCat-2.0-Preview has recently opened for testing.

MEITUAN-W(03690) rose more than 4% in the afternoon, up 4.23% as of press time, at HK$83.7, with a turnover of HK$2.045 billion. On the news side, on April 24th, according to industry sources, MEITUAN-W's new generation basic large model LongCat-2.0-Preview has been opened for testing, with a total parameter scale exceeding trillions, ranking among the top large models globally. According to insiders, the new generation V4 large model released by DeepSeek on the same day has a total parameter and activation parameter scale that is basically the same as MEITUAN-W's LongCat-2.0-Preview. It is reported that both LongCat-2.0-Preview and DeepSeek V4 support a 1M context window, able to process millions of words in a single inference, with the processing scale equivalent to the newly released GPT-5.5. In addition, the new LongCat model has been deeply optimized for Agent application scenarios, effectively adapting to code generation, complex task planning, enterprise automation, and other production scenarios. In addition to the parameter scale, the greater breakthrough of MEITUAN's new generation basic large model lies in its training and inference being entirely supported by domestic computing power clusters. According to sources, the number of computing cards used during MEITUAN's training phase ranges between 50,000 and 60,000, making it the largest large model training task completed on domestic computing power to date.