Z.AI (02513) shares rose more than 6% in early trading. As of press time, the stock was up 5.49% at HK$449.6, with a turnover of HK$965 million.

On the news front, China Mobile and Z.AI have officially signed a cooperation agreement, under which the two parties will engage in deep collaboration around domestic computing power, large model services, and AI commercialization.

According to the cooperation arrangement, the two sides will carry out joint innovation in areas including domestic computing power adaptation, Token production efficiency improvement, AI Coding product development, and industry applications in finance and government affairs. The Z.AI GLM series models will also be integrated into China Mobile's model service system, accelerating the large-scale deployment of large models in key industries.

For Z.AI, this partnership will further connect the industrial chain from underlying computing power and model services to commercial distribution, enhance model inference efficiency, expand the scale of GLM model invocations and commercialization channels, and drive the accelerated transformation of domestic large models from independent technological innovation to large-scale industrial application.