On July 2, Zhipu (02513.HK) fell 4.47% in regular trading, trading at HKD 1,830.0 per share, with turnover of HKD 754 million.

On the news front, Zhipu's six-month post-IPO lock-up period is set to expire on July 8, with approximately 25.68 million cornerstone investor shares becoming eligible for sale. This will cause the free float to surge from approximately 11.74 million shares to roughly 37.43 million shares — an expansion of more than two-fold — creating significant near-term supply pressure. Concurrently, market reports indicate that Zhipu is in discussions with advisors regarding a potential Hong Kong share placement that could raise several billion US dollars, with execution possible as early as July.

The stock had previously experienced sharp declines in late June, falling over 15% on June 26 when placement rumors first surfaced. Despite intermittent technical rebounds near the HKD 2,000 level, the dual overhang of imminent lock-up expiry and dilutive fundraising continues to suppress sentiment on a stock that had surged dramatically since its January listing.

(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.)