KNOWLEDGE ATLAS (02513) experienced a significant surge in its stock price during the afternoon session, with gains expanding to over 30%. At the time of writing, the stock was up 27.95%, trading at HKD 260, with a turnover of HKD 581 million. The rally follows an announcement on the company's official social media account on February 4, revealing that its hybrid reasoning model, GLM-4.7-Flash, achieved over one million downloads on Hugging Face within just 14 days of its open-source release. Additionally, market discussions have been sparked by the appearance of a top-ranked mysterious anonymous model named Pony Alpha on the Open Router platform, with analysts speculating it could be related to models such as DeepSeek-V4 or a new iteration from KNOWLEDGE ATLAS's GLM series. GF Securities released a research note stating that as a leading provider of large language model services in China, KNOWLEDGE ATLAS has built a comprehensive model matrix—including multimodal, agent, and coding capabilities—around its self-developed GLM foundation model, offering API services, localized deployment, and industry-specific solutions to enterprise clients. The brokerage forecasts that the company will maintain rapid revenue growth from 2025 to 2027, with scaling effects gradually becoming apparent and long-term profitability showing strong certainty.