Group 1 - The core viewpoint of the article highlights the successful IPO of Zhipu, which opened at HKD 120 per share, achieving a market capitalization exceeding HKD 52.8 billion and receiving approximately 1160 times oversubscription [1] - Zhipu's IPO attracted a diverse group of cornerstone investors, including major state-owned enterprises, leading insurance funds, large public funds, and prominent private equity firms, with a total subscription amounting to HKD 2.98 billion from 11 cornerstone investors [1] Group 2 - Zhipu's business model is centered around a standardized product system based on MaaS, delivering "general intelligence capabilities" through API calls, model subscriptions, and localized deployments, rather than traditional heavy delivery and customization [2] - This model is more easily understood and comparable in the Hong Kong and international capital markets, and is considered to have scalable attributes similar to leading overseas companies like OpenAI and Anthropic [2] - According to a Frost & Sullivan report, Zhipu ranks first among independent general large model developers in China and second among all general large model developers based on projected revenue for 2024 [2]
智谱上市受资本市场看好 市值突破528亿港元