--- title: "Zhipu's Stock Soars After Chinese AI Startup's Annual Revenue More Than Doubles" type: "News" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/281294543.md" description: "Shares of Zhipu AI surged 27% to HKD878 after the company reported a 132% revenue increase to CNY724 million for the year ending Dec. 31. Despite a net loss widening to CNY4.7 billion, gross profit rose 69% to CNY297 million. The annualized recurring revenue from its open platform and API business reached CNY1.7 billion, a 60-fold increase. Zhipu's CEO emphasized the need for a simple business model and noted that API pricing has increased by 83%, with demand still exceeding supply. The company aims to continue its growth trajectory in the AI sector." datetime: "2026-04-01T03:21:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/281294543.md) - [en](https://longbridge.com/en/news/281294543.md) - [zh-HK](https://longbridge.com/zh-HK/news/281294543.md) --- > 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/281294543.md) | [English](https://longbridge.com/en/news/281294543.md) # Zhipu's Stock Soars After Chinese AI Startup's Annual Revenue More Than Doubles (Yicai) April 1 -- Shares of Knowledge Atlas Technology Joint Stock, better known as Zhipu AI, surged after the Chinese artificial intelligence developer said it more than doubled revenue last year, with on-premises deployment making up most of the income. Zhipu \[HKG: 2513\] soared 27 percent to HKD878 (USD112.01) a share as of 10.45 a.m. in Hong Kong today. The stock has skyrocketed more than seven times in value since its first day of trading on Jan. 8. Revenue climbed 132 percent to CNY724 million (USD99 million) in the 12 months ended Dec. 31 from the previous year, the Beijing-based firm said in a financial report released yesterday. On-premises deployment accounted for 74 percent of the total. Zhipu's net loss widened 60 percent to CNY4.7 billion (USD646 million). Its gross profit jumped 69 percent to CNY297 million, but the gross profit margin fell to 41 percent from 56 percent, dragged down by a higher share of lower-margin cloud deployment business. The annualized recurring revenue of Zhipu's open platform and API business reached about CNY1.7 billion, a 60-fold increase over the past 12 months, Chief Executive Zhang Peng said at an earnings conference call. Engineering optimizations on the inference side lifted the Model-as-a-Service platform's gross margin to 19 percent from 3.3 percent, above the industry average, he added. Zhipu would continue on its path as "China's Anthropic," with API revenue as the starting point of a structural, long-term trend, Zhang stressed, noting that the industry needs a simple and economical business model. Zhipu's API pricing has surged 83 percent since the end of last year, yet demand still outstrips supply, Zhang said. Customers continue to accept the price increases in a competitive market crowded with compute-based API providers, which validates the company's leading model capabilities, he pointed out. Income from enterprise general-purpose large language models was CNY366 million, from the open platform and application programming interface business almost quadrupled to CNY190 million, and from the enterprise AI agent segment jumped 249 percent to CNY166 million, Zhipu noted. Nine of China's top ten internet firms are deeply integrated with Zhipu's GLM models, the company said, adding that the platform had more than four million registered corporate and developer users as of this month, serving customers in over 218 countries and regions. Independent LLM developers hold an inherent advantage in a period of rapid technological iteration, as large tech companies, constrained by resources, cannot remain competitive across all use cases and will continue to source technology from best-in-class external vendors, he noted. Regarding whether OpenClaw-driven price increases across the industry represent a lasting trend or a cyclical boom, Zhipu Chairman Liu Debing said volume-price growth is sustainable, driven by improved model capabilities and shifting user demand. The company's API prices soared, but token consumption and user growth remained rapid, he added. Future token pricing will become tiered: low-complexity, lightweight tasks will tend toward low-cost or even free, ad-supported models, while high-complexity, high-reliability tokens will command sustained pricing power, with customers focused on return on investment rather than unit price, according to Liu. Over the next two to three years, the industry's core growth driver will likely be the scaled rollout of standardized API capabilities, with cloud LLM costs continuing to fall and AI compute increasingly concentrated in the cloud, he said. 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