On July 16, Zhipu fell 9.2% in regular trading, trading at HK$1,621/share, with turnover of HK$1.377 billion. The decline reflects continued selling pressure following the company's completion of a massive share placement.

On July 13, Zhipu completed the placement of 19.78 million new H shares at HK$1,588 per share, raising approximately HK$31.411 billion in gross proceeds. The placement shares represent about 4.25% of pre-issuance total share capital, but effectively increased H-share supply by nearly 9%. Notably, no lock-up period was disclosed for the placees, significantly impacting the scarcity of tradable shares.

The stock had already dropped over 7% on July 14 due to dilution concerns, followed by a technical rebound on July 15. Today's renewed selling brings the share price close to the HK$1,588 placement price, a critical support level where market participants are intensifying positioning battles. Proceeds are earmarked for AGI research, computing infrastructure, and business expansion.

(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.)