On June 22, 2026, Zhipu (02513.HK) experienced a remarkable surge in its stock price on the Hong Kong Stock Exchange, climbing over 35% and achieving a total market capitalization of HK$1.27 trillion. This impressive performance represents an increase of over 2000% since the beginning of the year. Earlier, on June 17, Zhipu unveiled and open-sourced its latest flagship model, GLM-5.2. This innovative model excelled in the Code Arena blind test, which engaged millions of users worldwide, securing the top spot among all competing models. Specifically tailored for long-term tasks, GLM-5.2 boasts a 1M lossless context window, improved programming capabilities, and efficient performance on domestic computing platforms. In several authoritative evaluations, the performance gap between GLM-5.2 and the leading overseas model, Claude Opus 4.8, has narrowed to a mere 1% to 4%, positioning it among the highest-ranked open-source models. Furthermore, in response to Elon Musk's forecast that Chinese large language models may not match the capabilities of Anthropic Fable until the first quarter of 2027, Tang Jie, co-founder and chief scientist of Zhipu AI, expressed confidence that such a milestone would be achieved much sooner.