GoKawiilThe Zhipu AI logo is seen displayed on a smartphone screen.
Shares of Chinese artificial intelligence company Knowledge Atlas Technology JSC , better known as Zhipu, surged as much as 35% on Wednesday, after posting strong revenue growth in its first earnings report.
The Beijing-based company later pared gains but was still up roughly 30% in afternoon trading. Listed in Hong Kong in January following a $558 million initial public offering, Zhipu was the first major pure-play AI model company in China, and arguably the world, to go public.
Zhipu said in its earnings report released Tuesday that its revenue rose about 132% to 724 million yuan in 2025 from the previous year, though that figure missed the mean analyst estimate of 760 million yuan, polled by Reuters.
The firm reported a net adjusted loss of 3.18 billion yuan, up 29.1% from the previous year, as research and development spending increased.