Zhipu announces 2025 performance: Annual revenue exceeds 724 million yuan, a year-over-year increase of 132%

DeepFlowTech · 2026-03-31T09:42:00+00:00

Zhipu MaaS API Platform is expected to achieve an ARR of 1.7 billion yuan by 2025, a 60-fold increase year-over-year, with gross profit margin rising to 18.9%. Revenue in 2025 is projected to exceed 724 million yuan, a 132% increase year-over-year. After price increases in the first quarter of 2026, usage volume continued to rise, demonstrating strong market demand. Zhipu will continue to focus on breakthroughs in model intelligence.

DeepFlowTech

2026-03-31 09:42:00

Abstract generation in progress

Deep Tide TechFlow message. On March 31, according to Caixin Global, in 2025, the Zhipu MaaS API platform achieved ARR of 1.7 billion yuan (about $250 million), up by 60 times year over year. At the same time, the platform’s gross margin increased nearly 5-fold year over year to 18.9%, with a significant improvement in profitability. Zhipu’s 2025 performance exceeded expectations; its financial report shows that the company’s full-year revenue exceeded 724 million yuan, up 132% year over year, making it the domestic company with the largest revenue scale among large model companies; its full-year consolidated gross margin reached 41%. After the Zhipu MaaS API platform raised prices by 83% in the first quarter of 2026, call volume did not decline but instead rose; the market remains in short supply. The company said that improving the upper bound of intelligence is the “first principle” of the AGI era for large models, and it will continue to focus on sustained breakthroughs in model intelligence.

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