On August 12, Z.AI rose 3.1% in regular trading, trading at HKD 1,233.0 per share, with turnover of HKD 409 million.

On the news front, Z.AI announced a comprehensive upgrade of its AI coding product ZCode on August 11, launching four major features — Goal, Subagents, Remote Control, and Idle Tasks — with total users surpassing 1 million. The upgrade pushes Coding Agent capabilities from conversational assistance toward autonomous delivery of complex tasks. Internal benchmarks show GLM-5.2 paired with ZCode achieves an overall task pass rate 2.39% higher than when paired with Claude Code, particularly excelling in cross-file, multi-step collaborative tasks.

The stock had declined over 5% in the prior session due to profit-taking following Morgan Stanley's 72% target price raise to HKD 1,700. Today's rebound reflects capital flowing back after the short-term oversold condition, supported by the product upgrade catalyst and the ongoing digestion of the bullish institutional outlook.

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