KNOWLEDGE ATLAS (Zhipu AI) experienced a significant intraday decline, plummeting 5.03% during Monday's trading session.

The sharp drop was primarily driven by market concerns over a potential share placement and the approaching expiry of post-IPO lock-up periods. Reports indicate the company is in discussions regarding a potential share placement in Hong Kong that could raise several billion U.S. dollars as early as next month, raising dilution concerns among investors.

Additionally, the six-month lock-up period for cornerstone investors holding approximately 25.68 million shares is set to expire on July 8, intensifying worries about near-term supply expansion in the market. The end-of-June period also coincides with semi-annual performance settlement for funds, creating concentrated profit-taking pressure on high-valuation AI stocks like Zhipu AI.