智谱（02513.HK）今日盘中大跌5.05%，引起了市场的广泛关注。
消息面上，此次股价下跌主要受到多重因素影响。首先，该股在前期经历大幅上涨后，获利盘持续兑现，形成技术性抛压。更为关键的是，公司基本面隐忧发酵，其上市后首份年度业绩显示年内亏损同比扩大59.5%至47.18亿元，且每月现金消耗高达3.27亿元，现金流状况紧张。此外，市场担忧即将于7月到来的大规模基石股份解禁，其规模相当于当前流通盘的2.2倍，可能逆转股票的供需关系。同时，公司当前静态市销率高达580倍，估值与业绩的严重背离也加剧了短线的抛售压力。
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