On July 15, Zhipu (02513.HK) rose 4.38% in regular trading, trading at HK$1,635 per share, with turnover of HK$478 million.

On the news front, the company announced on July 14 that it has completed its English name change from Knowledge Atlas Technology to Z.AI Co., Ltd., with the new English stock short name Z.AI effective from July 17, sharpening its brand positioning around artificial intelligence.

Additionally, the stock plunged over 7% in the prior session after completing a HK$31.4 billion placement of 19.78 million new H shares at HK$1,588 per share, representing approximately 4.25% dilution of pre-issuance shares. Today's rebound reflects a technical recovery from that oversold condition. JPMorgan recently raised its target price to HK$2,400, while CLSA upgraded the stock to Outperform with a HK$2,061 target, citing accelerated revenue conversion from new computing resources and an earlier path to breakeven, providing valuation support for the recovery.

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