Movement Alert｜Zhipu Falls 4.35% in Regular Trading, STAR Market IPO Plan Sparks Concerns Over Heavy Losses and Financial Risks

Market Focus06-05

On June 5, Zhipu declined 4.35% in regular trading, trading at HK$1,311.0 per share, with trading volume of HK$179 million.

On the news front, Zhipu announced that its board of directors proposed to apply to the CSRC for the issuance of A-shares and listing on the STAR Market (Science and Technology Innovation Board). The move comes less than six months after the company's Hong Kong listing, raising market concerns over its substantial losses and cash flow pressures.

According to the company's annual report, its full-year net loss reached RMB 4.718 billion, a 59.5% year-over-year expansion, while adjusted net loss stood at RMB 3.182 billion, widening 29.1% YoY. Additionally, the company's dynamic price-to-sales ratio has exceeded 170x, far surpassing the industry average. With the lock-up period expiration approaching in July, concerns over valuation frothiness and potential selling pressure have triggered concentrated position reductions among investors. Broader sector weakness was also evident, with peer MINIMAX-WP declining 10.25% on the same day.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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