Z.AI is trading at HK$1249, up +4.52%, after reporting first-half revenue of RMB953.9 million, up 400% year over year.

  • Net loss narrowed to RMB2 billion.
  • Added to the MSCI China Index, effective after the August 31, 2026 close, potentially supporting index-related demand.
  • R&D spending rose 36.6% amid intensifying Chinese AI competition.