On September 22, Z.AI rose 3.84% in regular trading, trading at 813.0 HKD/share, with turnover of 2.33 billion HKD. The stock continued its recovery trajectory following the resolution of the ZCode data security controversy.

On September 21, Z.AI formally completed rectification of its AI coding tool ZCode, open-sourcing the product to GitHub and publishing results from third-party security audits conducted by the China Academy of Information and Communications Technology and NSFOCUS. The audits confirmed zero data retention on cloud storage, with the ZCode v3.14.0 client having removed the Repo Wiki feature and severed all local repository snapshot upload pathways. The company also launched a zero-data-retention mechanism on its MaaS platform.

Southbound capital has net purchased Z.AI for seven consecutive trading days, accumulating over 4 billion HKD in a single session. East Wu Securities maintained a Buy rating, noting the open-source move has limited fundamental impact while the company retains optimization advantages through its proprietary model integration. Separately, Z.AI recently raised its year-end ARR guidance from 24 billion to 30 billion USD, with cloud service revenue recognition beginning in October.

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