On June 24, Zhipu rose 3.5% in regular trading, trading at HK$2,316.0/share, with turnover of HK$208 million. The stock continues to build on its recent explosive rally after its market capitalization surpassed the 1 trillion HKD milestone last session.

The sustained momentum follows the launch of the company's next-generation flagship model GLM-5.2, which scored 51 on the Artificial Analysis benchmark — ranking as the state-of-the-art among open-source models. The model's pricing undercuts Anthropic's flagship by 82%, while a U.S. Commerce Department order forcing Anthropic to delist two frontier models has fueled a powerful narrative of Chinese AI openness versus American restriction. Southbound capital has been a persistent buyer, with net inflows of approximately HK$3.96 billion over three consecutive days in mid-June.

Fundamentally, Zhipu reported full-year revenue of RMB 724 million for 2025 (up 131.9% YoY), though adjusted net losses stood at RMB 3.18 billion. Its core product GLMCoding Plan has raised prices by 83% cumulatively while remaining oversubscribed, signaling rare pricing power. The stock has surged over 1,900% year-to-date from its IPO price of HK$116.2.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)