Macquarie: Zhipu launches GLM-5.2 with a positive outlook, strengthening pricing capabilities

Deep Tide TechFlow news: On June 16, Macquarie published a research report saying that Zhipu (02513.HK) released the GLM-5.2 model and was the first to roll it out to all GLM Coding Plan subscription users (Lite/Pro/Max/Team). The model is positioned as the company’s most powerful open-source model to date, with a focus on long-cycle code writing, agent engineering, and complex systems tasks.

Independent API access and pricing, as well as open-source weights licensed under the MIT license, are also planned to be released next week. Although no benchmark data was announced in the initial release, early community feedback from social media and developer forums has been very strong, noting that GLM-5.2’s performance in coding and long-cycle agent tasks is comparable to Claude Opus 4.7. Macquarie believes the launch of GLM-5.2 will have a positive impact and may strengthen the company’s pricing capability in subsequent subscription plans, which should continue to drive strong growth in annual recurring revenue. The firm maintains its Outperform rating on Zhipu, with its 12-month target price unchanged at HKD 1,221.4. (Jin10)