CMB International: Reiterates the Smart Spectrum (02513) “Buy” Rating Target Price of HK$1503.9

The Zhitong Finance App learned that CMB International released a research report saying that Zhi Spectrum (02513) recently released GLM-5.3. The bank believes that the programming and agent capabilities of GLM-5.3 have improved significantly, while at the same time achieving a better balance between model performance and token efficiency. The model also shows initial cybersecurity capabilities. In particular, the cybersecurity task chain performs better than the front-end link, but there is still room for further improvement in the complete vulnerability utilization chain tasks. The bank believes that the release of GLM-5.3 will be a positive catalyst for the stock price, and continues to be optimistic about Zhipu's long-term growth prospects and reaffirms its “buy” rating, with a target price of HK$1503.9.