HKG:2513

Z.ai Narrows Attributable Loss in H1

Z.ai (HKG:2513), formerly known as Knowledge Atlas Technology, reported 2.07 billion yuan in loss attributable to equity shareholders for the first half, compared with a loss of 2.35 billion yuan a year ago, a Monday bourse filing showed.Loss per share moved to 4.67 yuan from 6.23 yuan year over year.For the six months ended June 30, revenue was 953.9 million yuan, versus 190.9 million yuan previously, the Hong Kong-listed Chinese artificial intelligence firm said.

Hong Kong Stocks End Flat as Investors Await US Fed Rate Signals; Z.ai Falls 6%

Hong Kong stocks closed nearly flat Friday as investors awaited U.S. Federal Reserve Chair Kevin Warsh's speech for clues on the U.S. interest-rate outlook.The Hang Seng Index rose 19.05 points to close at 25,584.79, while the Hang Seng China Enterprises Index gained 0.08 points to finish at 8,490.39.Technology stocks gained after Nvidia's stronger-than-expected results and a bullish outlook for continued AI spending.Investors remained focused on Warsh's remarks at the Federal Reserve's Jackson Hole symposium, with markets pricing a roughly 35% chance of a September rate hike and fully pricing in a move by December.Oil prices remained on track for weekly losses as Iran and Oman agreed on arrangements for traffic through the Strait of Hormuz.In corporate news, Knowledge Atlas Technology (HKG:2513), also known as Z.ai, fell 6% after unveiling its first natively multimodal model in the GLM-5 series, GLM-5.3-Flash, with lower serving costs.

Z.ai Unveils Multimodal GLM-5.3-Flash With Lower Serving Costs

Knowledge Atlas Technology (HKG:2513), also known as Z.ai, unveiled GLM-5.3-Flash, its first natively multimodal model in the GLM-5 series, with 320 billion total parameters and 18 billion active parameters.The model outperforms GLM-5.2 across benchmarks and real-world workloads at one-tenth the price, while approaching Claude Opus 4.8 on coding and agentic benchmarks, according to the company.All of the traffic was served on Chinese AI chips.

Z.ai to Unveil Upgraded Flagship Model to Rival Claude, GPT-5.6

Knowledge Atlas Technology (HKG:2513), also Z.ai, plans to launch its upgraded flagship large language model that aims to rival Anthropic's Claude Fable 5 and OpenAI's GPT-5.6 Sol, the company said in a Friday release on its webpage.The Chinese artificial intelligence firm said the new model, GLM-5.3, has a 50% improvement over GLM-5.2, and its capabilities are quite close to Fable 5 and GPT-5.6 Sol.GLM-5.3 is set to be publicly launched in two weeks.

Jefferies Adjusts Z.AI's Price Target to HK$1,299.80 From HK$912.55, Keeps at Hold

Z.AI (HKG:2513) has an average rating of buy and mean price target of HK$1,681.97, according to analysts polled by FactSet.

Market Chatter: China Mulls Stricter Export Controls on AI Technologies

Chinese authorities are looking to implement stricter export controls on artificial intelligence and semiconductor technologies amid intensifying AI rivalry with the U.S., the Financial Times reported Wednesday, citing two people familiar with the matter.Officials led by the Commerce Ministry have been in talks with local AI and chipmaking groups and companies, including Alibaba (HKG:9988), ByteDance, and Knowledge Atlas Technology or Z.ai (HKG:2513), to ensure Western powers do not pirate Chinese technologies and startups, the report said.Commerce Ministry officials have also consulted stakeholders on possibly restricting overseas chipmakers from manufacturing chips based on designs by Chinese companies, the report said.The Commerce Ministry did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Market Chatter: Z.ai Completes 1 GW AI Data Centre Powered by Domestic Chips

Knowledge Atlas Technology (HKG:2513), also known as Z.ai, has completed a 1-gigawatt AI computing data center powered entirely by domestically produced chips, the South China Morning Post reported, citing people familiar with the matter.The Beijing-based company, formerly known as Zhipu, said the facility will support its GLM family of AI models, including its flagship GLM-5.2, and help ease computing bottlenecks and improve inference efficiency, according to the report.The report also said the company completed the acquisition of Chinese infrastructure software developer XCore Sigma, whose software helps improve AI chip utilization across different vendors and accelerates model deployment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

LUSTER LightTech to Sell Shares in Z.ai

LUSTER LightTech (SHA:688400) subsidiary Linyunguang Technology International will sell up to 334,800 shares it holds in Knowledge Atlas Technology (HKG:2513) or Z.ai for about HK$680.3 million, according to a Saturday filing with the Shanghai bourse.The company plans to sell the shares over the next 12 months.

Market Chatter: Zhipu AI Plans Hong Kong Share Sale

Knowledge Atlas Technology (HKG:2513), also known as Zhipu AI, is considering a share sale in Hong Kong next month to raise several billion U.S. dollars, Bloomberg reported Wednesday.The firm's plans are preliminary and could change, the report said, citing people familiar with the matter.Zhipu AI previously disclosed plans to pursue a secondary listing on Shanghai Stock Exchange's Sci-Tech Innovation Board to raise funds to advance its AI models.Zhipu AI did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Knowledge Atlas Launches Flagship Model; Release Expected Soon

AI company Knowledge Atlas Technology (HKG:2513) launched its latest-generation flagship model GLM-5.2, which will be released soon under the MIT license, according to a Monday Hong Kong bourse filing.The model supports long context lengths of up to 1 million tokens and is designed for long-horizon tasks.The artificial intelligence company believes the model will lead to higher call volumes for its open platform and API services.

Zhipu AI Seeks Shanghai Bourse Sci-Tech Board listing

Knowledge Atlas Technology (HKG:2513), also known as Zhipu AI, proposed applying for a listing on the Shanghai Stock Exchange's Sci-Tech Innovation Board, according to a Monday Hong Kong bourse filing.The company plans to issue between 9.1 million and 38.8 million new A shares, representing 2% to 8% of its enlarged share capital, subject to shareholder, regulatory, and exchange approvals.Net proceeds are intended for artificial intelligence general-purpose foundational large language models, a large-model MaaS one-stop service platform, and working capital.The projects have a total proposed investment of 15 billion yuan, according to the filing.Knowledge Atlas also proposed changing its English name to Z.AI Co. to align with its operational needs.Subject to approval and confirmation by the stock exchange, its English stock short name will also be changed, while its Chinese name will remain unchanged.Zhipu debuted in Hong Kong in January, raising net proceeds of about HK$4.17 billion.

Guosheng Securities Starts Knowledge Atlas Technology at Buy with HK$1,239 Price Target

Knowledge Atlas to Acquire Property in Beijing for 360.5 Million Yuan

Knowledge Atlas Technology (HKG:2513) agreed to acquire Beijing Hongzuan Technology Development for 360.5 million yuan, according to a Hong Kong bourse filing on Tuesday.Shares of the artificial intelligence company fell nearly 5% in morning trade Wednesday.The company will pay 81.6 million yuan in cash to ACREP Diamond Investment, the seller, and assume 278.9 million yuan in loans owed by the target.Hongzuan Technology owns a property in Beijing that the firm said could meet its daily administrative and business operational needs.