Losing 4.7 billion, revenue below expectations, Zhipu's first financial report saw its stock price rebound by 32%, with market capitalization surpassing HKD 400 billion.

CoinNetwork · 2026-04-01T07:21:09+00:00

Zhipu (2513.HK) stock price rose 32.44% today, with a market capitalization of HKD 409.5 billion, reaching a record high. Despite revenue in 2025 increasing by 131.9% year-on-year to 724 million yuan, it fell short of expectations, and net loss widened to 4.718 billion yuan. R&D expenditure surged to 3.18 billion yuan.

CoinNetwork

2026-04-01 07:21:09

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CoinWorld News. According to monitoring by 1M AI News, the AI large-model company Zhipu (2513.HK) saw its stock price surge 32.44% today, with a total market cap of HKD 409.5 billion, setting a new all-time high. Zhipu listed on the Hong Kong Stock Exchange on January 8 at an issue price of HKD 116.20, with a market value of about HKD 52.8 billion on its first day of trading. After yesterday’s close, Zhipu released its first annual financial report since listing. In 2025, total revenue was RMB 724 million, up 131.9% year over year, but below analysts’ prior expectation of RMB 756 million. Net loss was RMB 4.718 billion, expanding 59.5% year over year. Gross profit grew 68.7% year over year to RMB 297 million, while the gross margin fell from 56.3% to 41.0%. The company said this was mainly due to an increased share of its cloud business, which dragged down overall results. Research and development expenses were RMB 3.18 billion, up 44.9%, which was 4.4 times its revenue for the same period.

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