Z.AI (02513) reported nearly a 400% increase in revenue in the first half of the year, with API revenue accounting for nearly 90%, supported by domestic computing power for the large-scale supply of cutting-edge intelligence.

Z.AI (02513) today released its mid-year results for 2026. The data shows that Z.AI achieved revenue of 954 million yuan in the first half of 2026, a year-on-year increase of nearly 400%. Among this, the revenue from the Maas open platform and API business reached 825 million yuan, an increase of 2736% year-on-year, accounting for nearly 90% of total revenue. As of the end of August, the number of enterprise and developer users on the Z.AI Maas platform has exceeded 7.4 million, with token call volume increasing over 40 times since the beginning of the year. At the same time, Z.AI's computing power deployment has also further expanded. According to official information, Z.AI has achieved a scalable reasoning capability with domestic chips at the scale of 100,000 units, and the unit cost of token reasoning has decreased by 80% since the beginning of the year, creating a complete chain of "independent models - domestic computing power - large-scale applications." The latest release, GLM-5.3-Flash, showcases the optimal frontier of "intelligence - cost."