Movement Alert｜Z.AI Intraday Decline 4.02%, Profit-Taking After Goldman Sachs Upgrade Rally

Market Focus10-08 09:34

On October 8, Z.AI fell 4.02% in regular trading, with the stock trading at 671.5 Hong Kong dollars and turnover reaching 270 million Hong Kong dollars. The decline reflects short-term profit-taking pressure following a strong rebound, as earlier gains driven by Amazon Web Services integrating GLM-5.3 with a revenue-sharing model lost momentum. Goldman Sachs recently upgraded the stock from neutral to buy with a target price of 1560 Hong Kong dollars, noting its annual recurring revenue run-rate ranks first among Chinese peers, with the estimate raised to 3.2 billion US dollars. However, concerns over upcoming pre-IPO share unlocks and equity dilution from approximately 9 billion US dollars in financing continued to weigh on sentiment.

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