On July 14, Zhipu AI (02513.HK) declined 4.01% in regular trading, trading at HK$1,489 per share with turnover of HK$1.968 billion. The selloff was triggered by the formal completion of the company's massive share placement.

According to company filings, Zhipu AI completed its placement on July 13, issuing 19.78 million new H shares to no fewer than six placees at HK$1,588 per share, raising a total of approximately HK$31.411 billion. The placement price was set at the bottom of the HK$1,588-1,698 indicative range, representing a discount of approximately 13% to the prior trading price. The new shares account for roughly 4.25% of the pre-issue total share capital, expanding total issued shares from 445.84 million to 465.62 million.

The placement proceeds, net of fees at approximately HK$31.375 billion, are earmarked for AGI research and development, computing infrastructure, business expansion, and capital structure optimization. Market participants noted that the IPO proceeds of roughly HK$5 billion raised in January had been nearly fully deployed within six months, underscoring the capital-intensive nature of large model operations.

(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.)