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本頁面由Tiger Trade Technology Pte. Ltd.提供服務
智譜
762.000
+42.000
5.83%
手動刷新
成交量：
431.26萬
成交額：
32.46億
市值：
3,718.56億
市盈率：
-63.34
高：
776.000
開：
740.000
低：
732.000
收：
720.000
52周最高：
2,980.000
52周最低：
116.100
股本：
4.88億
香港流通股本：
2.63億
量比：
2.27
換手率：
1.64%
股息：
- -
股息率：
- -
每股收益(LYR):
-12.030
淨資產收益率：
--
總資產收益率：
-34.32%
市淨率：
72.02
市盈率(LYR):
-63.34
市銷率:
213.88
資料載入中...
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公司
新聞資訊
公告
智譜發布2026年8月股份變動月報，股本維持穩定
公告速递
·
09/02
《大行》匯研降智譜(02513.HK)目標價至1,375元 續予「持有」評級
阿斯达克财经
·
09/02
智譜推進和海外雲廠商合作，中國開源模型「出海」如何變現？
南方都市报
·
09/02
招商證券國際：升智譜(02513.HK)目標價至1,600港元 商業化進展超預期
智通财经
·
09/02
【券商聚焦】廣發證券維持智譜（02513）增持評級 指雲端業務量價齊升
金吾财讯
·
09/02
《大行》海通國際降智譜(02513.HK)目標價至2,200元 上半年收入遜預期API業務增長強勁
阿斯达克财经
·
09/02
《港股》恒指半日跌242點 金礦股及新能源汽車股受壓 智譜績後續跌逾5%
阿斯达克财经
·
09/02
港股午評：恒指、恒科齊跌；黃金股重挫，汽車、煤炭、半導體下跌，醫藥生物上漲；科網股多數飄綠，智譜跌超5%，「蔚小理」齊跌
中新经纬
·
09/02
《大行》摩通：智譜(02513.HK)上半年API業務增長凌厲 升目標價至2,000元
阿斯达克财经
·
09/02
《大行》招商證券國際升智譜(02513.HK)目標價至1,600元 或提前到2028年轉虧為盈
阿斯达克财经
·
09/02
智譜首家官方旗艦店落地天貓
新浪科技
·
09/02
《焦點》中國智譜、MiniMax半年考：商業化提速，但能否抵禦模型商品化衝擊？
路透中文
·
09/02
智譜(02513)出現大手賣出1.33萬股，成交價$1110.0，涉資1.476千萬
阿斯达克财经
·
09/02
異動解讀｜智譜盤中下跌3.73%，中報營收不及預期疊加經調整虧損擴大引發持續拋壓
行情直击
·
09/02
港股開盤 | 三大指數低開，蔚來、智譜跌超2%
老虎资讯综合
·
09/02
智譜：年內詞元調用量增4倍，推理成本下降80%
经济参考网
·
09/01
智譜(02513)出現大手買入6800股，成交價$1189.0，涉資808.52萬
阿斯达克财经
·
09/01
智譜回應模型技術質疑，下一代模型聚焦「自進化」
每日经济新闻
·
09/01
智譜電話會：ARR年底指引24億美元，坦言落後Anthropic 17個月，API提價101%後調用量仍增40倍
华尔街见闻
·
09/01
智譜回應「只會後訓練」質疑：下一代基座模型已在推進 GLM-6.0瞄準「自進化」
每日经济新闻
·
09/01
更多
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16:41","pubTimestamp":1788338493,"startTime":"0","endTime":"0","summary":"根据北京智譜華章科技股份有限公司于2026年9月2日披露的股份变动月报表，截至2026年8月31日，公司股本维持不变。公司公告显示，截至8月末，智谱普通股H股的已发行股份总数为241,094,605股，面值为每股人民币0.1元；未上市普通股则为224,528,485股，面值同为每股人民币0.1元。此外，公司结合数量与上市规则确认，现有公众持股量符合香港联交所相关规定。报告亦显示，公司在8月期间无任何股权激励或可转换债券发行计划变化。","market":"sh","thumbnail":"","type":0,"news_type":0,"thumbnails":[],"rights":null,"property":[],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"0","news_top_title":null,"news_tag":"SGX","news_rank":0,"length":0,"strategy_id":0,"source":null,"symbols":["02513"],"isVideo":false,"video":null,"gpt_icon":0},{"id":"2664797892","title":"《大行》匯研降智譜(02513.HK)目標價至1,375元 續予「持有」評級","url":"https://stock-news.laohu8.com/highlight/detail?id=2664797892","media":"阿斯达克财经","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2664797892?lang=zh_tw&edition=fundamental","pubTime":"2026-09-02 16:22","pubTimestamp":1788337320,"startTime":"0","endTime":"0","summary":"汇丰研究发表报告指，智谱(02513.HK) 将今年12月的年度经常性收入(ARR)指引上调至24亿美元，符合市场介乎20亿至25亿美元的预期。不过，由于公司主动缩减本地部署软件授权业务，以转向开放平台及API业务，导致收入及毛利逊预期。该行表示，虽然上调智谱ARR预测，但考虑到公司缩减高利润业务，下调智谱总收入预测6至15%，又降盈测10至40%，目标价由1,500港元下调至1,375港元，续予“持有”评级。(sl/u)(港股报价延迟最少十五分钟。沽空资料截至 2026-09-02 12:25。)AASTOCKS新闻","market":"sh","thumbnail":"https://plib.aastocks.com/aafnnews/image/medialib/20251230085213619_s.png","type":0,"news_type":0,"thumbnails":["https://plib.aastocks.com/aafnnews/image/medialib/20251230085213619_s.png"],"rights":{"source":"aastocks_highlight","url":"http://www.aastocks.com/tc/stocks/news/aafn-con/NOW.1542633/latest-news/AAFN","rn_cache_url":null,"directOrigin":true},"property":["rate"],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"http://www.aastocks.com/tc/stocks/news/aafn-con/NOW.1542633/latest-news/AAFN","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"0","news_top_title":null,"news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":"aastocks_highlight","symbols":["02513"],"isVideo":false,"video":null,"gpt_icon":0},{"id":"2664929338","title":"智譜推進和海外雲廠商合作，中國開源模型「出海」如何變現？","url":"https://stock-news.laohu8.com/highlight/detail?id=2664929338","media":"南方都市报","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2664929338?lang=zh_tw&edition=fundamental","pubTime":"2026-09-02 16:08","pubTimestamp":1788336480,"startTime":"0","endTime":"0","summary":"8月31日，智谱管理层在公司2026年中期业绩发布后透露，公司正在推进与海外云厂商的合作，计划以开源模型本地托管加收入分成的模式拓展“出海”，预计在未来1-2个月内公布进展。凭借日渐媲美海外前沿模型的性能以及显著的价格优势，中国大模型“出海”势头增强。财报发布前的8月26日，智谱认领被外界戏称为“牛来”的匿名模型OxAlpha。","market":"hk","thumbnail":null,"type":0,"news_type":0,"thumbnails":[],"rights":{"source":"stock_eastmoney","url":"http://finance.eastmoney.com/a/202609023862771415.html","rn_cache_url":null,"directOrigin":true},"property":[],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"http://finance.eastmoney.com/a/202609023862771415.html","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"0","news_top_title":null,"news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":"stock_eastmoney","symbols":["02513","BK1117","LU0593848301.USD"],"isVideo":false,"video":null,"gpt_icon":0},{"id":"2664891097","title":"招商證券國際：升智譜(02513.HK)目標價至1,600港元 商業化進展超預期","url":"https://stock-news.laohu8.com/highlight/detail?id=2664891097","media":"智通财经","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2664891097?lang=zh_tw&edition=fundamental","pubTime":"2026-09-02 14:43","pubTimestamp":1788331397,"startTime":"0","endTime":"0","summary":null,"market":"hk","thumbnail":null,"type":0,"news_type":0,"thumbnails":[],"rights":null,"property":[],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"https://www.zhitongcaijing.com/immediately.html?type=ganggu","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"0","news_top_title":null,"news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":"live_zhitongcaijing","symbols":["06099","BK1147","BK1564","BK1117","02513","LU0593848301.USD"],"isVideo":false,"video":null,"gpt_icon":0},{"id":"2664896050","title":"【券商聚焦】廣發證券維持智譜（02513）增持評級 指雲端業務量價齊升","url":"https://stock-news.laohu8.com/highlight/detail?id=2664896050","media":"金吾财讯","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2664896050?lang=zh_tw&edition=fundamental","pubTime":"2026-09-02 13:47","pubTimestamp":1788328072,"startTime":"0","endTime":"0","summary":"金吾财讯 | 广发证券发布研报指，智谱 26H1实现营收9.5亿元人民币，同比增长399.7%；毛利2.5亿元人民币，同比增长163.7%；净利润为-20.7亿元人民币，上年同期-23.6亿元人民币，亏损收窄。云端业务收入占比大幅提升。26H1云端部署业务收入8.3亿元人民币，同比增长2735.7%，收入占比由去年全年的15.2%提升至86.5%。截至26年8月底，MaaS平台Tokens调用量较年初增长超过40倍，其中Coding Plan调用量增长超过23倍，同期API平均售价提高约101%。","market":"sg","thumbnail":"https://static.szfiu.com/news/20250106/ZmQ4YWNjMjZmNDUwZDg4ZTlkYjEwZTY1NmI3NmEzMzkwOTI4OTA5.jpg","type":0,"news_type":0,"thumbnails":["https://static.szfiu.com/news/20250106/ZmQ4YWNjMjZmNDUwZDg4ZTlkYjEwZTY1NmI3NmEzMzkwOTI4OTA5.jpg"],"rights":null,"property":["rate"],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"1990436","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"0","news_top_title":null,"news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":null,"symbols":["KCE","01776","02513"],"isVideo":false,"video":null,"gpt_icon":0},{"id":"2664212895","title":"《大行》海通國際降智譜(02513.HK)目標價至2,200元 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12:25。)AASTOCKS新闻","market":"fut","thumbnail":"https://plib.aastocks.com/aafnnews/image/medialib/20251230085213619_s.png","type":0,"news_type":0,"thumbnails":["https://plib.aastocks.com/aafnnews/image/medialib/20251230085213619_s.png"],"rights":{"source":"aastocks_highlight","url":"http://www.aastocks.com/tc/stocks/news/aafn-con/NOW.1542602/latest-news/AAFN","rn_cache_url":null,"directOrigin":true},"property":["rate"],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"http://www.aastocks.com/tc/stocks/news/aafn-con/NOW.1542602/latest-news/AAFN","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"0","news_top_title":null,"news_tag":"dataReport","news_rank":0,"length":0,"strategy_id":0,"source":"aastocks_highlight","symbols":["02513"],"isVideo":false,"video":null,"gpt_icon":0},{"id":"2664895444","title":"《港股》恒指半日跌242點 金礦股及新能源汽車股受壓 智譜績後續跌逾5%","url":"https://stock-news.laohu8.com/highlight/detail?id=2664895444","media":"阿斯达克财经","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2664895444?lang=zh_tw&edition=fundamental","pubTime":"2026-09-02 12:38","pubTimestamp":1788323880,"startTime":"0","endTime":"0","summary":"相关内容《大行》高盛：理想汽车指引逊市场预期 降目标价至55元智谱绩后获大行上调目标价，但股价续受压，半日收跌5.6%；MINIMAX-W升1.9%，公司成上月成港股通最受欢迎港股；迅策则跌1.84%个股方面，建滔积层板升3.52%，花旗料公司10月初再加价，同系建滔集团亦升3.31%；国泰跌近2%，遭太古折让7.7%配售3.6亿股。(港股报价延迟最少十五分钟。","market":"sh","thumbnail":"https://plib.aastocks.com/aafnnews/image/medialib/20221020124424218_s.jpg","type":0,"news_type":0,"thumbnails":["https://plib.aastocks.com/aafnnews/image/medialib/20221020124424218_s.jpg"],"rights":{"source":"aastocks_highlight","url":"http://www.aastocks.com/tc/stocks/news/aafn-con/NOW.1542599/latest-news/AAFN","rn_cache_url":null,"directOrigin":true},"property":[],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"http://www.aastocks.com/tc/stocks/news/aafn-con/NOW.1542599/latest-news/AAFN","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"0","news_top_title":null,"news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":"aastocks_highlight","symbols":["03115","02833","09115","82800","HSI","83115","02800","LU0593848301.USD","MCHmain","03419","HHImain","HSImain","07300","BK1117","MHImain","07200","03037","07500","02513","513600"],"isVideo":false,"video":null,"gpt_icon":0},{"id":"2664895183","title":"港股午評：恒指、恒科齊跌；黃金股重挫，汽車、煤炭、半導體下跌，醫藥生物上漲；科網股多數飄綠，智譜跌超5%，「蔚小理」齊跌","url":"https://stock-news.laohu8.com/highlight/detail?id=2664895183","media":"中新经纬","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2664895183?lang=zh_tw&edition=fundamental","pubTime":"2026-09-02 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升目標價至2,000元","url":"https://stock-news.laohu8.com/highlight/detail?id=2664895304","media":"阿斯达克财经","labels":["dataReport"],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2664895304?lang=zh_tw&edition=fundamental","pubTime":"2026-09-02 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或提前到2028年轉虧為盈","url":"https://stock-news.laohu8.com/highlight/detail?id=2664589334","media":"阿斯达克财经","labels":["dataReport"],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2664589334?lang=zh_tw&edition=fundamental","pubTime":"2026-09-02 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套餐等产品。据介绍，目前在售商品包括个人版的Lite、Pro、Max等类别，可按月/季/年购买订阅。","market":"hk","thumbnail":null,"type":0,"news_type":0,"thumbnails":[],"rights":null,"property":[],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"https://finance.sina.com.cn/tech/shenji/2026-09-02/doc-iniqkzma1316533.shtml","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"0","news_top_title":null,"news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":"sina","symbols":["BK1117","02513","LU0593848301.USD"],"isVideo":false,"video":null,"gpt_icon":0},{"id":"2664898888","title":"《焦點》中國智譜、MiniMax半年考：商業化提速，但能否抵禦模型商品化衝擊？","url":"https://stock-news.laohu8.com/highlight/detail?id=2664898888","media":"路透中文","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2664898888?lang=zh_tw&edition=fundamental","pubTime":"2026-09-02 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09:21","pubTimestamp":1788312084,"startTime":"0","endTime":"0","summary":"9月2日，港股三大指数低开，恒指跌0.19%，恒科指跌0.41%。科指成分股中，联想集团涨2.03%，MINIMAX-W涨1.78%，蔚来-SW跌2.12%，智谱跌2.04%，比亚迪电子跌2.01%。","market":"hk","thumbnail":"https://static.tigerbbs.com/09caddfc0c2d2ea28b3db992baa72dbf","type":0,"news_type":0,"thumbnails":["https://static.tigerbbs.com/09caddfc0c2d2ea28b3db992baa72dbf"],"rights":null,"property":[],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"","is_publish_highlight":true,"source_rank":0,"column":"","sentiment":"0","news_top_title":null,"news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":null,"symbols":["00992","LU0791590937.USD","BK4555","LU0593848301.USD","83115","LU1046422090.SGD","BK1607","07200","BK4534","LU1267930227.SGD","IE0034224299.USD","03037","LU0052756011.USD","HK0000306701.USD","LU0049112450.USD","LU0791591158.USD","03115","LU0862451753.SGD","BK1582","LU0572940350.SGD","LU0310800965.SGD","LU1785774172.SGD","LU0052750758.USD","BK4504","BK4099","BK1580","BK4509","BK1540","HK0000320264.USD","80992","LU0128522157.USD","BK1193","HK0000306685.HKD","03419","TCHI","BK1589","LU0890818403.SGD","BK1515","LU0348766576.USD","LU1235295612.USD","BK4588","VXUS","LU0320764599.SGD","02513","BK4581","IE00B0JY6N72.USD","BK1588","BK4532","LU0708995583.HKD","BK6125","LU0320764755.SGD","BK4548","NIO.SI","LU0348767384.USD","07300","LU1366334651.USD","IDRV","02800","EVS.SI","00285","HK0000320223.HKD","BK4505","HSI","BK1119","LU0972618739.USD","LU0128525689.USD","07500","BK1117","BK4526","82800","LU0543330483.HKD","LU0370786039.SGD","LU0672654166.SGD","LU0572939691.SGD","BK4531","BK1504","LNVGY","NIO","LU0029875118.USD","LU1366334578.USD","LU0048580855.USD","IE0032431581.USD","BK4574","00100","LU2242644610.SGD","IE0003895053.USD","BK4585","09115","09866","LU0274383008.USD","KCAI","BK1526","LU0264606111.USD","NIOG","BK1167","BK1149","LU0862451837.USD"],"isVideo":false,"video":null,"gpt_icon":0},{"id":"2664285996","title":"智譜：年內詞元調用量增4倍，推理成本下降80%","url":"https://stock-news.laohu8.com/highlight/detail?id=2664285996","media":"经济参考网","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2664285996?lang=zh_tw&edition=fundamental","pubTime":"2026-09-01 20:15","pubTimestamp":1788264930,"startTime":"0","endTime":"0","summary":"8月31日，大模型公司智谱发布2026年半年报。上半年，智谱营收近9.54亿元，同比增长399.7%，比2025年全年营收高出30%。其中，开放平台及API收入约8.25亿元，同比增长2735.7%，成为主要增长引擎。截至8月31日，智谱MaaS（模型即服务）平台Token（词元）调用量较年初增长超过40倍，同期API（应用程序编程接口）平均售价提高约101%。","market":"sh","thumbnail":null,"type":0,"news_type":0,"thumbnails":[],"rights":{"source":"stock_eastmoney","url":"http://finance.eastmoney.com/a/202609013861669598.html","rn_cache_url":null,"directOrigin":true},"property":[],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"http://finance.eastmoney.com/a/202609013861669598.html","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"0","news_top_title":null,"news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":"stock_eastmoney","symbols":["BK1117","02513","LU0593848301.USD"],"isVideo":false,"video":null,"gpt_icon":0},{"id":"2664839394","title":"智譜(02513)出現大手買入6800股，成交價$1189.0，涉資808.52萬","url":"https://stock-news.laohu8.com/highlight/detail?id=2664839394","media":"阿斯达克财经","labels":["shareholding"],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2664839394?lang=zh_tw&edition=fundamental","pubTime":"2026-09-01 14:55","pubTimestamp":1788245700,"startTime":"0","endTime":"0","summary":"[大手成交]智谱(02513)在下午02:55出现大手买入，成交量为6800，成交价为港币$1189.0，涉资808.52万。至目前为止，股价跌0.586%，今日最高价为$1263.0，而最低价为$1141.0，总成交量为665.805万股，总成交金额港币$80.759亿。","market":"sh","thumbnail":"https://plib.aastocks.com/aafnnews/image/medialib/20180815142908927_s.jpg","type":0,"news_type":0,"thumbnails":["https://plib.aastocks.com/aafnnews/image/medialib/20180815142908927_s.jpg"],"rights":{"source":"aastocks_highlight","url":"http://www.aastocks.com/tc/stocks/news/aamm-content/AAT2609016001/aamm-all-category","rn_cache_url":null,"directOrigin":true},"property":[],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"http://www.aastocks.com/tc/stocks/news/aamm-content/AAT2609016001/aamm-all-category","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"0","news_top_title":null,"news_tag":"shareholding","news_rank":0,"length":0,"strategy_id":0,"source":"aastocks_highlight","symbols":["02513","LU0593848301.USD","BK1117"],"isVideo":false,"video":null,"gpt_icon":0},{"id":"2664571836","title":"智譜回應模型技術質疑，下一代模型聚焦「自進化」","url":"https://stock-news.laohu8.com/highlight/detail?id=2664571836","media":"每日经济新闻","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2664571836?lang=zh_tw&edition=fundamental","pubTime":"2026-09-01 14:37","pubTimestamp":1788244653,"startTime":"0","endTime":"0","summary":"截至9月1日13时44分，市场震荡活跃，恒生科技ETF（513580）跟踪指数下跌1.01%。相关个股方面，MINIMAX-W上涨4.81%，联想集团上涨1.46%，智谱上涨0.59%。消息面上，在8月31日晚举办的半年度业绩沟通会上，智谱创始人唐杰回应了市场对智谱\"只会后训练\"的质疑，表示下一代模型仍将扩大基座规模，同时管控激活参数以平衡推理速度与成本。","market":"sh","thumbnail":null,"type":0,"news_type":0,"thumbnails":[],"rights":{"source":"stock_eastmoney","url":"http://finance.eastmoney.com/a/202609013861412586.html","rn_cache_url":null,"directOrigin":true},"property":[],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"http://finance.eastmoney.com/a/202609013861412586.html","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"0","news_top_title":null,"news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":"stock_eastmoney","symbols":["BK1117","02513","LU0593848301.USD"],"isVideo":false,"video":null,"gpt_icon":0},{"id":"2664740887","title":"智譜電話會：ARR年底指引24億美元，坦言落後Anthropic 17個月，API提價101%後調用量仍增40倍","url":"https://stock-news.laohu8.com/highlight/detail?id=2664740887","media":"华尔街见闻","labels":["dataReport"],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2664740887?lang=zh_tw&edition=fundamental","pubTime":"2026-09-01 14:08","pubTimestamp":1788242928,"startTime":"0","endTime":"0","summary":"智谱在业绩会和分析师call back会上，首次披露ARR年底指引为24亿美元，同时承认仍落后于Anthropic；毛利率方向性指引首次明确，目标12-18个月内奔向50%；API均价涨101%但调用量暴增40倍，前十大客户日均调用增长98倍；唐杰详解下一代模型路线，下一代基座已在训练，“自主训练”被定义为终局技术愿景。","market":"hk","thumbnail":"https://static.tigerbbs.com/61acaedc56e1a899fef3f1a3351d2a0d","type":0,"news_type":0,"thumbnails":["https://static.tigerbbs.com/61acaedc56e1a899fef3f1a3351d2a0d"],"rights":null,"property":[],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"https://wallstreetcn.com/articles/3780798","is_publish_highlight":true,"source_rank":0,"column":"","sentiment":"0","news_top_title":null,"news_tag":"dataReport","news_rank":0,"length":0,"strategy_id":0,"source":null,"symbols":["BK6100","02513","BK1117","BK6520","MORT","REM","LU0593848301.USD","BK4110"],"isVideo":false,"video":null,"gpt_icon":1},{"id":"2664833132","title":"智譜回應「只會後訓練」質疑：下一代基座模型已在推進 GLM-6.0瞄準「自進化」","url":"https://stock-news.laohu8.com/highlight/detail?id=2664833132","media":"每日经济新闻","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2664833132?lang=zh_tw&edition=fundamental","pubTime":"2026-09-01 13:36","pubTimestamp":1788240968,"startTime":"0","endTime":"0","summary":"【智谱回应“只会后训练”质疑：下一代基座模型已在推进 GLM-6.0瞄准“自进化”】过去数月，GLM-5.1、GLM-5.2、GLM-5.3版本沿用同一基座，模型能力迭代提升主要依靠后训练完成，这也引发市场关于智谱是否过度依赖后训练的讨论。对此，智谱创始人唐杰回应表示，这是公司结合现有数据、算力资源，权衡不同训练阶段边际收益作出的主动选择，并非停止基础大模型的迭代升级。","market":"sh","thumbnail":null,"type":0,"news_type":0,"thumbnails":[],"rights":{"source":"stock_eastmoney","url":"http://finance.eastmoney.com/a/202609013861365840.html","rn_cache_url":null,"directOrigin":true},"property":[],"language":"zh","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"http://finance.eastmoney.com/a/202609013861365840.html","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"0","news_top_title":null,"news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":"stock_eastmoney","symbols":["02513","LU0593848301.USD","BK1117"],"isVideo":false,"video":null,"gpt_icon":0}],"pageSize":20,"totalPage":20,"pageCount":9,"totalSize":400,"code":"91000000","status":"200"}]}}