本报讯 2月12日，记者获悉，智谱官方GLM Coding Plan上线即售罄。一个国产AI编程模型的付费套餐被抢空，这在行业历史上较为罕见。 截至2月12日收盘，智谱股价上涨28.68%，市值达1792.29亿港元。 （文章来源：证券日报） | | 连续包月 连续包季 9折 连续包年(7折 | | | --- | --- | --- | | GLM Coding Lite | GLM Coding Pro 最受欢迎 () | GLM Coding Max ®* | | 连续包年 7 折 | 连续包年 7 折 | 连续包年 7 折 | | ¥ 411/年 ¥588/年 | ¥ 1251/年 ¥1788/年 | ¥ 3939/年 ¥5628/年 | | 下个年度续费金额:¥411.6 | 下个年度续费金额:¥1251.6 | 下个年度续费金额:¥3939.6 | | 暂时售罄 02月13日 10:00 补货 | 暂时售罄 02月13日 10:00 补货 | 暂时售罄 02月13 B | | * Claude Pro 套餐的 3倍 用量 | * Lite 套餐的 5倍 用量 | ¥ Pro 套餐的 4倍 用量 | ...

GLM系列模型受到全球开发者喜爱，市场需求持续强劲增长，用户规模不断扩大，调用量也快速攀 升。目前，GLM-5已完成与华为昇腾、摩尔线程、寒武纪、昆仑芯、沐曦、燧原、海光等国产算力平 台的深度推理适配。通过底层算子优化与硬件加速，GLM-5在国产芯片集群上已经实现高吞吐、低延 迟的稳定运行。 在国际权威榜单Artificial Analysis中，GLM-5的表现同样亮眼，位居全球第四、开源模型第一。这一成 绩不仅彰显了智谱的技术实力，也为国产大模型在国际舞台上赢得了更多关注。随着GLM-5的发布和 开源，智谱有望进一步推动国产大模型生态的发展，为行业创新注入新动力。 智谱今日(2月12日)凌晨正式开源发布新一代基座模型GLM-5，被誉为智能体工程时代最强开源模型。 它宣告大模型编程从"写代码片段"的Vibe Coding时代，正式迈入"完成系统工程"的智能体工程时代。据 悉，GLM-5在编程能力上实现了对齐Claude Opus 4.5，性能超过Gemini3 Pro。官方GLM Coding Plan上 线即售罄，一个国产AI编程模型的付费套餐被抢空，这在行业历史上尚属首次。 ...

2月12日，智谱(02513.HK)股价一度涨超41%。截至收盘，该股股价报402港元/股，涨幅为28.68%，市 值为1792.3亿港元。 智谱 HK2513 HK 市值 1792.3亿 量比 443.000 2.58 402.000 恒 换 3.08% 318.800 流通 889.68亿 TH 89.600 28.68% 开 市盈™ 亏损 26.48亿 339.800 客员 同在顺 #快讯#智谱:对GLM Coding Plan套餐价 ... × 据 房 स्त्र H2 日K 周K 月K 五日 更多 ▲ 均价:388.601 最新:402.000 89.600 +28.681% 10406.600 3200 443.000 +41.81% 406.400 406.200 900 406.000 405.800 405.600 2000 405.400 U U 405.200 200 405.000 100 404,800 -0.00% 3.12.400 402.000 1900 200 401.800 401.600 5900 401.400 4200 401.200 5000 401.000 630 ...

Market Overview - The Hong Kong stock market declined today, influenced by technology stocks, with the Hang Seng Index stopping its three-day rise and barely holding above the 27,000 mark. The index closed down 0.86% or 233.84 points at 27,032.54, with a total turnover of HKD 238.7 billion. The Hang Seng China Enterprises Index fell 1% to 9,175.18, and the Hang Seng Tech Index dropped 1.65% to 5,408.98 [1] Blue Chip Performance - Zijin Mining (601899) (02899) led blue-chip gains, rising 3.45% to HKD 45.02 with a turnover of HKD 4.993 billion, contributing 14.47 points to the Hang Seng Index. Citigroup raised its target price for Zijin's A-shares and H-shares by over 30% due to increased gold and lithium price forecasts and higher gold sales. The target price for Zijin's H-shares was raised from HKD 39 to HKD 51.8, a 32.8% increase [2] - Other notable blue-chip movements included WuXi AppTec (603259) (02359) up 2.91% to HKD 127.5, contributing 2.69 points; Sun Hung Kai Properties (00016) up 2.85% to HKD 133.5, contributing 8.63 points; while Budweiser APAC (01876) fell 5.21% to HKD 7.83, dragging down the index by 1.42 points [2] Sector Highlights - Technology stocks dragged the market lower, with Tencent down over 2% and Alibaba nearly 1%. However, several major companies launched new models, with Zhizhu's flagship model GLM-5 seeing a price increase and its stock rising over 40% to a new high. MINIMAX also rose over 14% [3] - The chip sector saw significant gains, with domestic GPU leader Tianzuo Zhixin and storage chip leader Zhaoyi Innovation both rising over 20%. Optical communication concepts rebounded, with Yangtze Optical Fibre (601869) benefiting from rising fiber prices, increasing over 12% [4] Notable Stock Movements - Zhongyuan Shipping (600026) (01138) surged 8.61% to HKD 17.6, driven by heightened shipping rates due to geopolitical tensions and increased demand for oil transportation [8] - China National Heavy Duty Truck (000951) (03808) reached a new high, rising 5.58% to HKD 42.38, with January heavy truck exports exceeding 16,000 units, marking a historical high [9] - Rebio Biotech (06938) also performed well, increasing 5.26% to HKD 74.05 after announcing a global exclusive licensing agreement with Madrigal Pharmaceuticals for innovative siRNA therapies [9] Company-Specific News - Budweiser APAC reported a revenue of USD 5.764 billion for the year ending December 31, 2025, a decrease of 7.7% year-on-year, with net profit attributable to shareholders down 32.6% to USD 489 million. The company also reported a loss of USD 105 million in the last quarter, compared to a loss of USD 16 million in the same period last year [10]

Market Overview - The A-share market experienced a slight upward trend on February 12, with the Shanghai Composite Index rising by 0.05%, the Shenzhen Component Index increasing by 0.86%, and the ChiNext Index gaining 1.32% [2][17] - The total trading volume reached 21,607.71 billion, with 2,108 stocks rising and 3,280 stocks falling [19] Stock Performance - Notable stocks in the computing power industry saw significant gains, with companies like Yuke and Capital Online hitting the daily limit of 20% [19][20] - The top gainers included: - Yuke (20.01% increase, current price 45.05) - Capital Online (20.01% increase, current price 33.76) - Xinlei Co. (19.99% increase, current price 48.62) [20][21] AI Sector Surge - The Hong Kong stock market's AI sector saw a remarkable surge, with Zhipu Technology's stock price increasing by 30%, bringing its market capitalization close to 200 billion HKD [10][25] - Zhipu announced the launch of its new flagship model GLM-5, which has shown strong performance in programming and agent capabilities, leading to increased demand for its GLM Coding Plan [10][25] Price Adjustments - Zhipu also announced a structural adjustment to its GLM Coding Plan pricing, with an overall increase starting from 30%, while maintaining prices for existing subscribers [10][25] Industry Trends - The cooling server sector saw stocks like Chuanrun and Yingweike reaching their daily limit [20][21] - The non-ferrous metal sector continued its upward trend, with stocks like Xianglu Tungsten and Zhangyuan Tungsten hitting the daily limit [22][23] Declining Stocks - The film and entertainment sector faced declines, with companies like Hengdian Film and Bona Film hitting their daily limit down [24]

2月12日，智谱官方宣布上线并开源 GLM-5。据介绍，GLM-5 在全球权威的 Artificial Analysis 榜单 中，位居全球第四、开源第一，号称"从代码到工程，迈向 Agentic Engineering 时代"，从国内一众模型 之中，以一匹黑马的姿态强势杀出。 智谱官方表示，GLM-5 实现了从代码到工程的跨越：从单纯的 Vibe Coding，进化为具备系统性思维的 Agentic Engineering。它能够更深入地理解工程逻辑，应对复杂的开发场景。GLM-5 在编程能力和 Agent 的多项主流基准测试中取得开源模型 SOTA 分数。在 SWE-bench-Verified 和 Terminal Bench 2.0 中分别获得 77.8 和 56.2 的开源模型 SOTA 分数，性能超过Gemini 3 Pro。 在发布新模型和提价双重刺激下，智谱今日再次大涨超40%，四天内股价轻松翻倍！ 2月12日，智谱大幅高开7%之后，继续疯狂暴涨，早盘轻松突破400元大关，午后一度大涨超过40%， 最高报443港元/股，总市值突破4900亿港元。值得注意的是，从2月9日开始，智谱突然开始暴涨， ...

Core Viewpoint - The stock price of Zhipu AI (2513.HK) surged significantly, with an increase of over 40% at one point, reaching 417 HKD per share and a market capitalization exceeding 170 billion HKD, following the announcement of a price adjustment for its GLM Coding Plan and the launch of its new flagship model, GLM-5 [1] Group 1: Company Developments - Zhipu AI announced a structural price increase of at least 30% for its GLM Coding Plan, citing strong market demand and a rapid increase in user scale and usage [1] - The new pricing structure eliminates first-time purchase discounts but retains quarterly and annual subscription discounts, with existing subscribers' prices remaining unchanged [1] - The GLM-5 model has been confirmed as the top-performing model on the OpenRouter platform and has achieved high scores in programming capability benchmarks, outperforming competitors like Google's Gemini 3 Pro [3] Group 2: Industry Context - The AI model industry is experiencing a surge in new releases and resource investments, with major players like Tencent, Alibaba, Baidu, and ByteDance collectively investing over 4.5 billion CNY to capture the Spring Festival traffic [2] - The competitive landscape is shifting towards a focus on inference efficiency, multi-modal integration, and cost-effective deployment, with several companies reducing model invocation costs significantly [2] - The introduction of GLM-5 is seen as a strategic move for Zhipu AI to transition from customer acquisition to high-quality commercial operations, as indicated by industry analysts [2][3] Group 3: Technological Advancements - GLM-5 features significant enhancements in programming and agent capabilities, with an increase in pre-training data from 23TB to 28.5TB and the introduction of a new "Slime" framework for larger models and complex tasks [3] - The model has been optimized for compatibility with major domestic chip platforms, ensuring high throughput and low latency performance on domestic computing clusters [4] - The evolving landscape of AI models is expected to drive a new wave of innovation, shifting the industry focus from traditional traffic scale to behavior execution and capability invocation [4]

公开信息显示，智谱是国内专注于通用人工智能研发的科技企业，核心业务围绕全栈大模型技术体系展 开，拥有国产原创GLM大模型架构，旗下涵盖GLM系列大模型、智谱清言、AutoGLM等多款产品，业 务覆盖模型服务、智能体应用、全流程开发套件等多个领域。 基于实际使用情况与资源投入变化，公司决定对GLM Coding Plan套餐价格体系进行结构性调整：取消 首购优惠，保留按季按年订阅优惠，套餐价格整体涨幅自30%起，已订阅用户价格保持不变，调整自2 月12日起正式生效。 此外，在产品层面，公司今日还上线并同步开源GLM-5模型。信息显示，在Coding与Agent能力上， GLM-5已取得开源SOTA表现，在真实编程场景的使用体感逼近Claude Opus4.5，擅长复杂系统工程与 长程Agent任务。 值得一提的是，此前在全球模型服务平台OpenRouter登顶热度榜首的神秘模型"Pony Alpha"，经智谱证 实即为GLM-5，目前该模型已正式上线chat.z.ai平台；此外，智谱透露GLM-5已与摩尔线程、寒武纪等 主流国产芯片平台完成深度适配与算子级优化，可在国产算力集群上实现稳定高效运行。 12日早盘， ...

Core Viewpoint - The company, Zhipu, announced a price adjustment for its GLM Coding Plan due to strong market demand and increased user engagement, leading to a structural change in pricing with an overall increase starting from 30% [1] Group 1: Pricing Adjustments - Zhipu has decided to cancel the initial purchase discount while retaining seasonal and annual subscription discounts [1] - The price adjustment will take effect on February 12, 2026, with existing subscribers' prices remaining unchanged [1] Group 2: Market Performance - On February 12, Zhipu's stock opened significantly higher, reaching a peak of 418 HKD per share, with a market capitalization exceeding 180 billion HKD [1] Group 3: Product Developments - Zhipu launched and open-sourced GLM-5 on February 12, achieving state-of-the-art (SOTA) performance in coding and agent capabilities, closely rivaling Claude Opus 4.5 in real programming scenarios [3][4] - GLM-5 ranks fourth globally and first among open-source models in the Artificial Analysis leaderboard [3] Group 4: Engineering and Adaptation - GLM-5 has completed deep reasoning adaptation and operator-level optimization with major domestic chip platforms, enabling stable operation with high throughput and low latency on domestic computing clusters [4] - The model "Pony Alpha," which topped the global model service platform OpenRouter, is confirmed to be Zhipu's new model GLM-5 [4]

2月12日，"国产大模型第一股"智谱（股票代码：02513.HK）股价延续强势表现，截至午间收盘，报390港元/股，涨幅达24.84%，市值攀升至1738.8亿港 元。午后继续大涨，涨幅超40%。继2月9日和2月10日两个交易日，单日涨幅分别达36.22%、14.81%，截至目前区间最大涨幅超过100%，股价持续突破上市 以来的历史新高。 消息面上，智谱于2月12日同步披露两项重要动态。其一，公司发布GLM Coding Plan价格调整函，称近期GLM Coding Plan市场需求持续强劲增长，用户规 模与调用量快速提升。为保障高负载下的服务稳定性与服务质量，公司已加大算力与模型优化投入，产品能力得到持续升级。基于实际使用情况与资源投入 变化，智谱决定对GLM Coding Plan套餐价格体系进行结构性调整。 据弗若斯特沙利文数据，按2024年收入计算，智谱在中国独立通用大模型开发商中排名第一，在整体通用大模型开发商中排名第二，市场份额达6.6%。截 至2025年上半年，公司已服务超过8000家机构客户，中国前十大互联网公司中有9家使用GLM模型；开源模型全球下载量超过4500万次，MaaS平台注册开 ...