Zhipu AI Shares Surge Over 42% in Hong Kong, Market Cap Tops HKD 323 Billion
The Hong Kong stock market kicked off its first trading day of the Lunar Year of the Horse with a generally subdued performance, yet the AI large model sector stood out with remarkable energy. Leading players Zhipu and MINIMAX both recorded substantial stock gains, capturing significant market attention.
Zhipu, a key player in the large model space, surged impressively during the session, closing 42.72% higher at 725 HKD. This pushed its total market capitalization above 323.2 billion HKD.

Notably, another major large model firm, MINIMAX, also delivered a strong performance the same day. Its share price climbed 12% to 957 HKD, lifting its market cap past the 300 billion HKD mark and making it another standout in the Hong Kong market alongside Zhipu.
Zhipu’s impressive rally was well-supported. On February 12, the company introduced its next-generation flagship model, GLM-5, which increased parameter scale from 355B to 744B, boosted programming performance by more than 20% compared to its predecessor, and delivered top results across three Agent evaluations in the open-source domain.
In addition, Zhipu raised the price of its programming packages by 30% or more. Following the release of the new packages, they sold out rapidly—marking the first sell-out of paid AI programming model packages in the domestic market and underscoring strong product acceptance.
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The Hong Kong stock market kicked off its first trading day of the Lunar Year of the Horse with a generally subdued performance, yet the AI large model sector stood out with remarkable energy. Leading players Zhipu and MINIMAX both recorded substantial stock gains, capturing significant market attention.
Zhipu, a key player in the large model space, surged impressively during the session, closing 42.72% higher at 725 HKD. This pushed its total market capitalization above 323.2 billion HKD.

Notably, another major large model firm, MINIMAX, also delivered a strong performance the same day. Its share price climbed 12% to 957 HKD, lifting its market cap past the 300 billion HKD mark and making it another standout in the Hong Kong market alongside Zhipu.
Zhipu’s impressive rally was well-supported. On February 12, the company introduced its next-generation flagship model, GLM-5, which increased parameter scale from 355B to 744B, boosted programming performance by more than 20% compared to its predecessor, and delivered top results across three Agent evaluations in the open-source domain.
In addition, Zhipu raised the price of its programming packages by 30% or more. Following the release of the new packages, they sold out rapidly—marking the first sell-out of paid AI programming model packages in the domestic market and underscoring strong product acceptance.
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