On August 5, Z.AI rose 3.07% in regular trading, trading at 1056.0 HKD/share with turnover of HKD 548 million, extending the previous session's over 10% rally.

On the news front, the company's next-generation model GLM-5.3 was suspected to have been prematurely leaked. On August 3, users discovered that the official GLM-5.3 documentation page was briefly accessible to the public for approximately one hour. The current flagship model GLM-5.2, launched in June, scored 51 on the Artificial Analysis composite benchmark, trailing only Anthropic and OpenAI among all models and representing the open-source state-of-the-art.

Additionally, a deep analysis highlighted that Z.AI's valuation floor is supported by high switching costs among government and enterprise clients. Privatized deployment revenue accounted for 73.7% of total revenue, with domestic certification barriers making client migration extremely costly, underpinning downside protection for the stock's valuation.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)