Overview
- Zhipu’s Hong Kong-listed shares jumped as much as 35% Wednesday after its first earnings update as a public company.
- The company reported 2025 revenue of 724.33 million yuan, up about 132% from the prior year.
- Net loss reached 4.72 billion yuan for 2025, and adjusted net loss was 3.18 billion yuan as research spending increased.
- CEO Zhang Peng said the company is moving more workloads to domestic chips to handle higher demand for computing since February.
- In the first quarter, Zhipu raised API prices by 83% as request volume rose about 400%, which raises costs for developers who rely on its cloud access.