Changes in Hong Kong stocks | Zhi Spectrum (02513) rose more than 5%, the company's monetization path is more clear, Goldman Sachs believes valuations are already attractive

The Zhitong Finance App learned that Smart Spectrum (02513) rose by more than 5%. As of press release, it had risen 5.35% to HK$660, with a turnover of HK$512 million.

According to the news, Goldman Sachs upgraded the Zhi Spectrum investment rating from “neutral” to “buy,” believing that the company is still one of the leading artificial intelligence model companies in China, and that the valuation is already attractive. Goldman Sachs said in the research report that considering that Zhipu has signed new commercial terms with hyperscale cloud service providers in China and the world, which is expected to bring additional high profit margin revenue, it raised the company's year-end annualized recurring revenue estimate from the previous 2.7 billion US dollars to 3.2 billion US dollars.

Recently, Smart Spectrum has completed the rectification of zCode product safety issues and made zCode open source. The agency expects the incident to have little impact on fundamentals. Previously, management revealed a number of key information during a telephone conversation with analysts and investors. These include: the supply of computing power is no longer the main constraint on revenue growth in the short term; cloud service providers have achieved breakthroughs in revenue sharing cooperation; Co-work commercialization progressed faster than expected. Within 1 month after GLM-5.3 was released, the Co-work industry's order amount had already exceeded 1 billion yuan; at the same time, Zhipu's year-end ARR guidelines were raised from 2.4 billion US dollars to 3 billion US dollars.