Ignite the AI circle! Hai Zhi (02706) and KNOWLEDGE ATLAS (02513) enter into strategic cooperation to accelerate model training and application implementation.

Recently, the AI large model field has once again welcomed a heavyweight cooperation news! HAIZHI TECH GP (02706) and KNOWLEDGE ATLAS (02513) have joined forces and officially signed a strategic cooperation framework agreement. The two parties will carry out in-depth strategic cooperation in fields such as model training and application scenarios landing, relying on Haizhi's graph fusion technology (such as Atlas graph) and KNOWLEDGE ATLAS's large model capabilities to complement each other. From the perspective of the entire industry, AI large models are moving from accelerated technological research and development to the key stage of large-scale commercial landing. Policy and market double benefits continue to be released. The latest weekly data from OpenRouter platform shows that the total number of tokens for the top ten models is approximately 8.7 trillion, of which Chinese models account for 5.3 trillion, accounting for as high as 61%. Guolian Minsheng Securities pointed out that in the long term, with the continuous iteration of inference, multimodal large models, the continuous integration of large factory ecosystems, and the continuous increase in penetration rates in various industries, the call volume of tokens is expected to maintain rapid growth, and the commercial application and industrial landing of large models are worth looking forward to. In this round of AI capital frenzy, related concept stocks have performed well. KNOWLEDGE ATLAS recently ignited the secondary market with the release of its new generation flagship model GLM-5, soaring nearly 30% on February 12th and doubling in price in four days. As the "first stock of AI except illusion," Haizhi Technology has been sought after since its listing on February 13th, with a high opening and high performance on the first day of listing, rising as much as 268% intraday, closing up 242%, becoming the best performing new stock in Hong Kong this year. The stock price continued to rise, closing at 154.1 Hong Kong dollars as of February 20, accumulating a more than 4-fold increase from the offer price of 27.06 Hong Kong dollars. Market analysts believe that the core reason why Haizhi Technology can experience a "surging" market is that it accurately positions the core pain point of "AI trust and security." Haizhi focuses on developing industry-level intelligent body through graph fusion technology. Its Atlas intelligent body can effectively reduce the illusion problems of large language models and build solid technological barriers in areas such as accuracy of facts and complex logical reasoning. So far, its Atlas intelligent body is compatible with over one hundred large models and covers over one hundred application scenarios. By the 2024 operating revenue calculation, the company ranks first among Chinese AI intelligent body providers with a graph-based core, with a market share of 50%. From a fundamental perspective, the revaluation of Haizhi Technology's value has solid performance support and perfectly fits the core pricing logic of top investment banks for the AI industry. J.P. Morgan explicitly stated in its latest AI industry report that the Chinese artificial intelligence industry is moving from the "hundred models battle" to a new stage with commercialization landing capabilities at its core, and for the first time covered KNOWLEDGE ATLAS and MiniMax, giving them a "buy" rating. Financial data shows that Haizhi Technology's revenue scale far exceeds that of the top large model companies that have been listed. Haizhi's total revenue in 2024 reaches 503 million RMB, which is 2.28 times that of MiniMax (220 million RMB) and 1.61 times that of KNOWLEDGE ATLAS (312 million RMB) for the same period. J.P. Morgan's latest report points out that the long-term core of the global AI market lies in B2B applications (with a scale expected to be more than three times that of the C end), and the revaluation of B-end applications has just begun. The deep strategic cooperation between Haizhi Technology and KNOWLEDGE ATLAS can not only share the dividends of large model technological iterations, but also achieve rapid expansion of scenarios relying on KNOWLEDGE ATLAS's developer ecosystem, highly fitting the growth path of "API monetization + global ecosystem expansion" favored by J. P. Morgan.