On July 7, Zhipu (02513.HK) rose 3.66% in regular trading, trading at HKD 1,608.0 per share, with turnover of HKD 860 million. The rebound follows a sharp 16% decline the previous session.

On the news front, multiple new warrants (covered warrants) targeting Zhipu were listed today, issued by major financial institutions including BNP Paribas, Macquarie, Citigroup, JPMorgan, Morgan Stanley, HSBC, and CITIC Securities. The concentrated launch of new derivative instruments typically attracts broader investor participation in the underlying stock, enhancing liquidity and serving as the primary catalyst for the intraday strength.

Notably, Zhipu is set to face its first post-IPO lock-up expiry on July 8, with approximately 25.68 million shares — representing roughly 11.6% of HK-listed share capital — becoming eligible for trading. The previous session's steep selloff is widely viewed as the market having partially priced in unlock-related supply pressure in advance. Separately, China Merchants Securities International maintains a Recommended rating on the internet sector and highlights Zhipu as a key beneficiary of model capability iteration driving valuation upside.

(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.)