Changes in Hong Kong stocks | NetDragon (00777) rose more than 4%, Mewfish AI has been launched simultaneously at home and abroad to test AI full-link deployment and personnel optimization, which is expected to restructure the cost curve

The Zhitong Finance App learned that NetDragon (00777) rose more than 4%. As of press release, it had risen 3.25% to HK$8.095, with a turnover of HK$22.6416 million.

According to the news, recently, at the 2026 Global Smart Education Conference, NetDragon launched Muyu AI. Currently, the platform has been tested online, and the mobile version is simultaneously being tested in overseas markets. According to CITIC Securities, Moyu AI is a multi-scene AI application ecosystem built using AI agents as a technology base. It has various specialized tools in the fields of video creation, teacher preparation, and programming, providing a new AI application paradigm for work, learning, creation and design. The bank believes that NetDragon has made key progress in transforming into an AI-native enterprise and is optimistic about the company's long-term development under the AI wave.

CITIC Construction Investment pointed out that, according to NetDragon's financial report, the share of 1H26AI employees has increased to 35% to 40%. AI employees have already launched 269 positions and achieved dynamic expansion, and the development cost of a single lightweight/native game has been reduced from 10 million yuan to about 2 million yuan. With the downsizing of the entire group's workforce to 2,557, there was a net decrease of 504 compared to the end of 2025 (16.47% reduction in personnel within half a year). The management revealed during the performance call that the impact of AI on labor efficiency costs was concentrated in 25-26, and the degree of optimization will gradually be reduced after 27 years, which is more reflected in the increase in game production capacity when costs increase slightly, which is also the operating leverage effect.