On June 10, Zhipu (02513.HK) declined 3.26% in regular trading, trading at HKD 1,054.0 per share, with trading volume of HKD 507 million. The stock has continued its pullback after reaching a record high on May 29, with cumulative maximum drawdown exceeding 36%.

On the news front, multiple headwinds are pressuring the stock. Approximately 11.99 million cornerstone investor shares are set to be unlocked on July 8, fueling market concerns over potential selling pressure. Meanwhile, competition in China's AI large language model space has intensified sharply, with rivals Step Star and MiniMax successively launching new products competing on model speed and context length, raising concerns about Zhipu's future profit margins.

Within the Systems Software sector, performance was mixed. HAIZHI TECH GP rose 8.96%, while MINIMAX-WP fell 2.67%, DEEPEXI TECH declined 1.23%, EXTREME VISION dropped 2.81%, and ONEFORCE HLDGS fell 4.88%.

(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.)