HK Stock Market Move | Knowledge Atlas (02513) increased by more than 35%, with a total market value exceeding HK$300 billion. JP Morgan said that the enhancement of the encoding scheme price is proof that the model's ability has strengthened.

KNOWLEDGE ATLAS (02513) further expanded its gains in the final period, with its total market value officially breaking through 300 billion Hong Kong dollars. As of the press release, it rose by 36.22% to 692 Hong Kong dollars, with a trading volume of 29.1 billion Hong Kong dollars. On the news front, KNOWLEDGE ATLAS recently launched its new flagship model GLM-5, and announced a price increase for its AI programming subscription package GLM Coding Plan, with an overall price increase of at least 30%. JP Morgan released a research report stating that API pricing is a signal of leading edge capabilities, and the real-time market clearing signal it provides contains multidimensional information about model capabilities. This price increase is the most direct manifestation of enhanced model capabilities. The report pointed out that KNOWLEDGE ATLAS has reached an important turning point, especially in its global API business. The releases of GLM-4.5/4.6/4.7, as well as a significant strategic shift towards intelligent agent systems and tools for enhanced reasoning and developer infrastructure, indicate that the company is aligning its technological roadmap with the evolving global frontier technological capabilities. The report predicts that with the increasing recognition of GLM-5 among developers, its usage will quickly rise, especially in coding-centric workflows where there is a high willingness to pay and usage intensity.