Z.AI is trading 5% down now at HK$967 as investors continued repricing the stock after first-half results showed CNY953.89 million in sales and a CNY2.071 billion net loss.

  • Reuters reported revenue surged 400% year over year, while research spending remained elevated.
  • Jefferies cut its target price to HK$1,183.79, citing sustainability, customer concentration, computing-power supply, and margin risks.