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Zhipu Reports 724 Million Performance as API Price Jumps 80% and Usage Surges, Leading Domestic AGI Race
Zhipu, a leading Chinese large model company, released its 2025 annual performance report today. The financial data reveals that over the past year, Zhipu achieved significant progress in commercialization, retaining its top revenue ranking in the domestic large model sector while also seeing exponential growth in key business metrics.
Zhipu's total revenue for 2025 surpassed 724 million yuan, representing a notable year-over-year increase of 132%. Despite the rapid growth, the company's profit quality also stands out:
Comprehensive Gross Profit Margin: reached 41% for the full year, well above the industry average, reflecting effective cost management and economies of scale.
MaaS API Platform: As a key growth driver, this platform generated an annual recurring revenue (ARR) of 1.7 billion yuan (about 250 million USD), skyrocketing 60 times year over year.
Platform Profit: The gross profit margin of the MaaS API platform increased from a low base last year to 18.9%, nearly five times higher, indicating that the platform model is now on a healthy growth trajectory.
In the first quarter of 2026, Zhipu implemented an aggressive pricing strategy, increasing API prices by 83%. Surprisingly, the price hike did not drive away customers; in fact, usage volume rose rather than fell. This supply-demand imbalance highlights the strong market appetite for high-quality AI capabilities and confirms Zhipu's leading position in model performance.
Zhipu's official statement noted that the ongoing advancement of intelligence is the "first principle" for large models to enter the era of Artificial General Intelligence (AGI). The company plans to continue investing resources, focusing on sustained breakthroughs in model intelligence, and strengthening its competitive moat as a benchmark enterprise in China's large model industry.
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Zhipu, a leading Chinese large model company, released its 2025 annual performance report today. The financial data reveals that over the past year, Zhipu achieved significant progress in commercialization, retaining its top revenue ranking in the domestic large model sector while also seeing exponential growth in key business metrics.
Zhipu's total revenue for 2025 surpassed 724 million yuan, representing a notable year-over-year increase of 132%. Despite the rapid growth, the company's profit quality also stands out:
Comprehensive Gross Profit Margin: reached 41% for the full year, well above the industry average, reflecting effective cost management and economies of scale.
MaaS API Platform: As a key growth driver, this platform generated an annual recurring revenue (ARR) of 1.7 billion yuan (about 250 million USD), skyrocketing 60 times year over year.
Platform Profit: The gross profit margin of the MaaS API platform increased from a low base last year to 18.9%, nearly five times higher, indicating that the platform model is now on a healthy growth trajectory.
In the first quarter of 2026, Zhipu implemented an aggressive pricing strategy, increasing API prices by 83%. Surprisingly, the price hike did not drive away customers; in fact, usage volume rose rather than fell. This supply-demand imbalance highlights the strong market appetite for high-quality AI capabilities and confirms Zhipu's leading position in model performance.
Zhipu's official statement noted that the ongoing advancement of intelligence is the "first principle" for large models to enter the era of Artificial General Intelligence (AGI). The company plans to continue investing resources, focusing on sustained breakthroughs in model intelligence, and strengthening its competitive moat as a benchmark enterprise in China's large model industry.
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