HK Stock Market Move | Z.AI (02513) surged over 9% during trading as the competition among AI models shifts to comprehensive comparisons. Institutions are optimistic about the companys potential for commercial explosion.

Z.AI (02513) rose more than 9% during trading, and as of the time of publication, is up 6.72%, trading at 1,111 Hong Kong dollars with a transaction volume of 3.514 billion Hong Kong dollars. On the news front, DeepSeek announced a price increase this morning, planning to raise the overall pricing of its API services significantly in the near term. Goldman Sachs' recent research report indicated that with the accelerating commercialization of CKH HOLDINGS, China's AI model is expected to achieve a total annual recurring revenue (ARR) of $13 billion by the end of 2026, up from the previous forecast of $10 billion. Among this, Z.AI's API business ARR is projected to rise to $2.5 billion. The firm believes that competition among Chinese models is shifting from purely low prices to a comprehensive comparison of performance, price, and commercialization ability. Additionally, recent media reports have suggested that Z.AI's next-generation model, GLM-5.3, may have been prematurely revealed, igniting user anticipation. In June of this year, Z.AI launched its latest flagship model, GLM-5.2, achieving a score of 51 on the Artificial Analysis comprehensive ranking, second only to Anthropic and OpenAI, making it the state-of-the-art among open-source models. CITIC Securities International previously indicated optimism about the GLM model's potential to enhance the competitiveness and market share of Chinese models in the global large model competition, with prospects for exponential commercial growth.