每经AI快讯，"全球大模型第一股"智谱(02513.HK)在港交所主板挂牌上市，发行价为每股116.20港元， 以120港元/股的价格开盘后，最高冲至121港元/股，但是之后震荡下行，最终在9：50分跌破发行价， 跌至116.10港元/股，后有所回升。 ...

机器之心发布 「全球大模型第一股」来了！ 2026 年 1 月 8 日，北京智谱华章科技股份有限公司（02513.HK）（以下简称「智谱」）正式在香港联合交易所挂牌上市。 他回顾称，智谱在 2021 年推出了自研的算法架构 GLM，而今年 GLM-4.7 的发布使其跻身世界领先，为冲刺 AGI 打下重要根基。 「智谱的 Z 是字母表中的最后 一个，代表终极境地，我们希望在 AGI 的探索历程上能走到智能的终极境地。」 凭借「全球大模型第一股」标的的独特稀缺性，智谱吸引了一支由北京核心国资、头部保险资金、大型公募基金、明星私募基金和产业投资人构成的全明星基石 投资阵容，JSC International Investment Fund SPC、JinYi Capital Multi-Strategy Fund SPC、Perseverance Asset Management 等 11 家基石投资者合计认购 29.8 亿港元。 以基座模型为核心，持续探索智能上界 智谱是中国最早投身大模型研发的厂商之一，原创性地提出了基于自回归填空的通用预训练范式 GLM，率先发布了中国首个百亿模型、首个开源千亿模型、首个 对话 ...

每经AI快讯，港股智谱涨幅收窄至0.09%，此前涨超3%。 ...

作者 | 褚杏娟 今天，北京智谱华章科技股份有限公司（以下简称"智谱"，股票代码 02513）在港交所正式挂牌上市。发行价为 116.2 港元 / 每股，募资规模预计将达 43 亿港元，预估市值 511 亿港元。开盘后，智谱股价涨超3%，但随后有所回落。截至发文，股票价格为116.5 港元 / 每股。 此时上市，会太早吗？ "全球大模型上市第一股"的头衔无疑让智谱获得更多的出圈效应，可以获得更多的潜在用户。而选择此时冲击上市，郭炜认为，主要还是因为智谱需要 更多的现金流与确定性。 他分析称，大模型不是互联网产品那种"先增长后盈利"的轻资产模式，它更像"研发 + 算力 + 工程化"三台发动机一起烧油才能在大模型军备竞赛里获得 生存空间。私募融资能解决一段时间的研发成本，但每一轮都要讲更大的故事、给更高估值，整体公司和股东可获得收益的确定性越来越少。所以，智 谱上市代表着在估值没有触达最高的时候，把确定性先确定下来。从资本运作来讲，这不失为一步好棋。 不过，郭炜认为，500 亿左右人民币预估市值，对于未来中国大模型头部企业来讲，还是过低了。 | 营销 | | | --- | --- | | 02513 交易中 0 ...

三只新股首日上市均高开，天数智芯高开31.54%，精锋医疗-B高开36.45%，智谱高开3.27%。 | < W | 天数智芯(9903) | | | | | --- | --- | --- | --- | --- | | | 集合竞价 01-08 09:20:08 | | | | | 190.200 | 额 4.14亿 股本 2.54亿 市盈 -40.2 | | 万得 | | | +45.600 +31.54% | 换 0.90% 市值1483亿 市净 17.53 | | 型口 | | | 分时 五日 | 日K | 周K 月K | 电子 | | | 置加 | | 均价:187.905 盘口 | 成交 | | | 200.000 | | 38.31% - | | 0.00(0) | | | | 卖9 191.800 | | 0.00(0) | | | | 卖8 191.700 | | 0.00(0) | | | | 卖7 191.600 | | 0.00(0) | | | | 卖6 191.500 | | 0.00(0) | | | | 卖5 191.400 | | 0.00(0) | | 144.600 | ...

Core Viewpoint - The company, Zhipu (02513), has successfully listed its shares at a price of HKD 116.2, raising approximately HKD 4.173 billion through the issuance of 37.4195 million shares, indicating strong market interest in its offerings [1] Company Overview - Zhipu is recognized as a leading artificial intelligence company in China, focusing on the development of advanced general large models [1] - Founded in 2019, the company aims to innovate in general artificial intelligence (AGI) within China [1] - The company has made significant advancements in AI research and has steadily expanded its commercial applications to achieve rapid revenue growth [1] Product Development - In 2021, Zhipu launched China's first proprietary pre-trained large model framework, the GLM framework, and introduced its Model as a Service (MaaS) product development and commercialization platform [1] - The platform provides large model services, enhancing the company's market position [1] - In 2022, the company open-sourced its first model with a scale of 100 billion parameters, known as GLM-130B [1] Market Position - According to Frost & Sullivan, Zhipu ranks first among independent general large model developers in China based on projected revenue for 2024, and second among all general large model developers [1]

Market Overview - The A-share market opened lower with the Shanghai Composite Index down 0.20%, the Shenzhen Component down 0.42%, and the ChiNext Index down 0.63% [2][3] - Over 3,000 stocks declined in the market, with notable drops in sectors such as non-ferrous metals, brokerage firms, insurance, retail, and CPO [1][3] Sector Performance - Non-ferrous metals and brokerage sectors experienced significant declines, while the commercial aerospace concept stocks saw a pullback [1][3] - The brain-computer interface concept remained active, with stocks like Prit and Innovation Medical achieving four consecutive trading limits [1] - The electronic gas sector opened strongly, with companies like Sanfu and Heyuan Gas hitting the daily limit [1] Notable Stocks - Zhongke Lanyun opened over 12% higher, projecting a net profit increase of 367%-377% year-on-year for 2025 [3] - Yijing Photovoltaic approached the daily limit down, announcing an expected negative net profit for the fiscal year 2025 [5] Hong Kong Market - The Hang Seng Index opened down 0.59%, with the Hang Seng Tech Index down 0.44% [6][7] - Major stocks like Tencent Music, Baidu, Alibaba, and Zijin Mining saw significant declines, while China Shenhua, China Telecom, and China Merchants Bank showed strength [6] IPO Activity - Zhizhu's first trading day saw a 3.27% increase, with an IPO plan to issue 37.42 million H-shares at a price of HKD 116.20, raising approximately HKD 4.348 billion [7][8]

Core Viewpoint - The article highlights the successful IPO of Zhiyu, referred to as the "first stock of global large models," marking a significant milestone for Chinese AGI companies in the international capital market [1][36]. Group 1: IPO Details - Zhiyu officially listed on the Hong Kong Stock Exchange with the stock code 2513, opening at 120 HKD per share and achieving a market capitalization of over 52.8 billion HKD [2][3]. - The IPO raised over 4.3 billion HKD, with a subscription rate of 1159.46 times for the public offering and 15.28 times for the international offering [5][6]. - The company attracted a star-studded lineup of cornerstone investors, including major state-owned enterprises and international institutions, securing 29.8 billion HKD in subscriptions [10]. Group 2: Technological Strength - Zhiyu's flagship model, GLM-4.7, has achieved top rankings in various global AI benchmarks, showcasing its competitive edge against international models [15][18]. - The GLM architecture is compatible with over 40 domestic chipsets, and its AutoGLM 2.0 can control 80 million devices, with a daily token usage of 4.6 trillion [18][21]. - The company has established partnerships with over 50 international platforms, integrating its GLM model as a core capability [19][20]. Group 3: Financial Performance - Zhiyu's revenue has shown impressive growth, with a compound annual growth rate of 130%, increasing from 57.4 million HKD in 2022 to 312.4 million HKD in 2024, and a 325% year-on-year increase in the first half of 2025 [22][28]. - The company has adopted a MaaS model, with over 2.7 million enterprises and developers using its platform, and its subscription product has surpassed 100 million HKD in annual recurring revenue [25][27]. Group 4: Investment in R&D - Zhiyu has invested over 4.4 billion HKD in R&D from 2022 to the first half of 2025, with 74% of its employees dedicated to research and development [30][29]. - The company plans to allocate 70% of its IPO proceeds to continue R&D efforts, aiming to strengthen its technological barriers [33]. Group 5: Industry Impact - The listing of Zhiyu signifies a pivotal moment for Chinese AGI companies, representing their entry into the global pricing system as a complete commercial entity [36][37]. - This event marks a transition for Chinese large models from "following technology" to "global competition," indicating a new phase in the industry [37].

每经AI快讯，1月8日，恒生指数开盘跌0.59%，恒生科技指数跌0.44%。国产大模型公司智谱上市首日 开盘涨超3%。 ...

热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 美股周三个别发展，美国私人机构职位增长逊预期，大市破顶后反复倒跌，三大指数收市升跌不一。美 元走势向好，美国十年期债息回落至4.15厘水平，金价表现受压，油价走势向下。 客户端 美股周三个别发展，美国私人机构职位增长逊预期，大市破顶后反复倒跌，三大指数收市升跌不一。美 元走势向好，美国十年期债息回落至4.15厘水平，金价表现受压，油价走势向下。 今日港股三大指数集体低开，恒指开盘跌0.59%，报26302.78点，恒科指跌0.44%，国企指数跌0.43%。 盘面上，科网股普跌，百度、阿里巴巴跌超1%；创新药概念延续涨势，先声药业涨超1%；锂电池股活 跃，宁德时代涨近1%；石油股走弱，上海石油化工跌超1%；今日3只新股上市，智谱涨超3%，天数智 芯涨超31%，精锋医疗-B涨超36%。 | 名称 | 最新价 | 涨跌幅 へ | | --- | --- | --- | | 恒生指数 | 26302.78 | -0.59% | | 800000 | | | | 恒生科技指数 | 5713.53 | -0.44% | | 800700 | | | | 国企指数 ...