Summary of Conference Call Notes Company and Industry Involved - The company discussed is **智谱 (Zhipu)**, which operates in the **AI and machine learning** industry, specifically focusing on the **GLMCoding Plan** product line. Core Points and Arguments - **Price Adjustment Announcement**: Zhipu announced a structural adjustment to the pricing of the GLMCoding Plan, with an overall increase starting at **30%** due to strong market demand and rapid growth in user scale and usage volume [1] - **Investment in Infrastructure**: To ensure stability and service quality under high load conditions, the company is increasing investments in computing power and model optimization, leading to continuous upgrades in product capabilities [2] - **Changes to Subscription Structure**: The company will eliminate the first purchase discount while retaining seasonal and annual subscription discounts. The pricing structure will be adjusted, with existing subscribers' prices remaining unchanged [2] - **Effective Date**: The new pricing structure will take effect on **February 12, 2026** [2] Other Important but Possibly Overlooked Content - The decision to adjust pricing is based on actual usage conditions and changes in resource investment, indicating a responsive approach to market dynamics [2]