On July 3, Zhipu AI rose 4.68% in regular trading, trading at 2018.0 HKD/share, with turnover of 13.91 billion HKD. The stock staged a technical rebound after consecutive steep losses, with short-term capital stepping in near key support levels.

On the previous trading day, Zhipu AI plunged over 16%, pushing its market capitalization below 800 billion HKD. The sell-off was driven by multiple headwinds: the company's IPO lock-up period expires on July 8, when approximately 25.68 million cornerstone investor shares will be unlocked, expanding the free float from roughly 11.74 million to 37.43 million shares — more than tripling available supply. Additionally, market reports indicate Zhipu AI is discussing a potential Hong Kong share placement worth several billion USD with advisors, possibly as early as this month. Meituan management has also explicitly stated intentions to actively exit positions in listed investments including Zhipu AI at appropriate times.

Despite the near-term rebound, supply expansion pressure from the imminent lock-up expiry and potential share placement continues to overhang the stock.

(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.)