---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/42444772.md"
description: "Zhipu will have 25.6816 million shares (5.76% of the total) unlocked on July 8th. The unlock time, quantity, and target were announced half a year ago — it's something the whole world knows, so why do you think only you know about it?When everyone is anxious about the same thing, it has long been priced in. Unlock ≠ sell-off, the premise is that they are willing to sell. Zhipu's cornerstone investors include a large number with state-owned backgrounds. They can slowly offload shares through block trades or over-the-counter agreements before the unlock date, with absolutely no need to dump shares on the unlock day itself.The biggest risk in the market has never been the "widely known" negative news, but the "you think you know" expectation gap. There is no expectation gap regarding this unlock event.Moreover, you need to think clearly about one thing: the unlock changes the shareholding structure, not the company's value.Zhipu's models are iterating, and commercialization is advancing. These are the things you should really be focusing on. The unlock is just a gust of wind; once it passes, the ship sails on.Most importantly, if one day, when Zhipu is competing with other large models, its development path goes completely wrong and it falls far behind, that's when it should be sold.$Z.AI(02513.HK)"
datetime: "2026-07-06T13:52:28.000Z"
locales:
  - [en](https://longbridge.com/en/topics/42444772.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/42444772.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/42444772.md)
author: "[阿修AX](https://longbridge.com/en/profiles/12691394.md)"
---

# Zhipu will have 25.6816 million shares (5.76% of t…


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## Comments (8)

- **大魔法师芙莉莲 · 2026-07-16T01:54:46.000Z**: Don't look at news reports, look at stock price trends
  - **阿修AX** (2026-07-16T02:11:19.000Z): That's definitely more indicative of the stock price trend, let's see how the stock price moves in the future.
- **南海港湾 · 2026-07-08T07:12:29.000Z**: Your edit is not convincing.
- **啊这样子吗 · 2026-07-07T00:12:43.000Z · 👍 2**: State-owned capital is here to harvest naive investors.
  - **阿修AX** (2026-07-07T06:00:17.000Z): No, state-owned capital is also for the long-term development of our country's large model. The independent and controllable AI semiconductor industry chain is something we must achieve and cannot be 
- **Morii · 2026-07-06T15:05:10.000Z · 👍 1**: It's all money given by the higher-ups from one hand to the other. If you don't cash out now, when will you run?🤣
- **投资亦是修心 · 2026-07-06T13:59:08.000Z · 👍 5**: Main players: I knew retail investors would find reasons to convince themselves.
  - **阿修AX** (2026-07-06T14:05:44.000Z): Yeah, my reason isn't strong enough. And I think Zhipu's AI route is correct at the moment, and it's quite popular in the market. But the future direction of AI development is towards AGI, and by then