Group 1 - The core viewpoint of the article highlights that Zhipu (2513.HK) is a leading enterprise in the domestic general large model sector, with revenue experiencing continuous growth of over 100% in the past two years, primarily targeting internet and technology companies [1] - The domestic large language model market is expected to grow 20 times in the next six years, with enterprise demand dominating the trillion yuan opportunity, and the company holds a competitive advantage in this market [1] - The company is projected to achieve revenues of 738 million yuan in 2025, 1.6 billion yuan in 2026, and 2.68 billion yuan in 2027, driven by its strong model capabilities and the rapid increase in global paid user numbers [1] Group 2 - In terms of local deployment business, 50% of the company's revenue in 2024 is expected to come from the internet and technology sectors, with plans to prioritize the consumer electronics and IoT industries in the next six months [2] - The company aims to leverage its model capabilities to enter high-barrier industries such as education and healthcare, anticipating a rapid increase in both customer numbers and average transaction value in its local deployment business [2]
智谱明日登陆港交所，研报称企业级需求主导千亿机会，预计25年收入7.38亿元及26年收入16亿元
Ge Long Hui·2026-01-07 15:55