Zhipu, a Chinese AI model developer listed in Hong Kong, said on November 10 that it plans to repurchase H shares in the open market for up to HK$4 billion (US$510 million), capped at 1% of its issued shares.

The board will decide whether to proceed based on market conditions, and the company said there is no guarantee any shares will be bought.

Zhipu’s stock swung sharply on November 11.

It closed up 3.57% at HK$499.2 (US$64), but the shares remain down more than 58% since the company released its first-half results.

The listed entity is Z.AI Co. Ltd., whose H shares trade under code 2513.

For the first half of 2026, Zhipu reported revenue of 954 million yuan (US$143 million).

Its net loss attributable to shareholders was 2.1 billion yuan (US$311 million).

Du Xianjie, investment director at Tianai Capital, said the volatility likely reflected the buyback’s limited scale, weak market sentiment, and Zhipu’s continued losses.

🔗 Source: 36Kr

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