Knowledge Atlas (02513.HK) surged as much as 33% on June 15 and extended gains another 9% on June 16 after CICC and JPMorgan raised price targets following the launch of its GLM-5.2 coding model. CICC lifted its target 39% to HKD 1,250, while JPMorgan raised its target 47% to HKD 1,400, citing the model's coding performance reaching Claude Opus 4.6 levels.
Knowledge Atlas surged 33% on June 15 and another 9% on June 16 after two brokerages raised price targets on its GLM-5.2 model launch.
JPMorgan raised its price target 47% to HKD 1,400 from HKD 400, maintaining a buy rating, according to a note published earlier this month. CICC followed on June 15 with a 39% increase to HKD 1,250, keeping an outperform rating and expressing optimism that the company's lead in coding capabilities will further consolidate.
The stock traded at HKD 1,592 as of 9:27 a.m. HKT on June 16, extending a two-day rally that began after the company on June 13 made GLM-5.2 fully available under its GLM Coding Plan. The model features a 1-million-token context window, up from 200,000 in GLM-5.1, and can output up to 131,072 tokens per response. Its coding performance ranks first among domestic models and has reached parity with Claude Opus 4.6, according to developer evaluations cited by CICC.
The upgrades reflect growing conviction that Knowledge Atlas has established a durable lead in AI coding, a market that has attracted billions in investment from global technology companies. The GLM-5.2 API is scheduled to launch and be open-sourced under the MIT license in the third week of June.
The 52-week range for Knowledge Atlas spans HKD 116.10 to HKD 1,993.00, with the stock up more than 12-fold from its low. Short selling totaled HK$331.63 million on June 15, representing 4.1 percent of turnover.
Among 13 analysts covering the stock, 11 rate it a buy, two rate it a hold and none recommend selling, according to data compiled by Investing.com. The average 12-month price target stands at HKD 1,209.44, implying a 24 percent downside from the current price, though the most bullish target of HKD 2,003 suggests further upside.
The GLM-5.2 launch marks the fourth flagship coding release in roughly four months from Knowledge Atlas, following GLM-5 in February, GLM-5-Turbo in March and GLM-5.1 in April. The model is compatible with eight agentic coding tools including Claude Code, Cline and OpenCode from day one.
This article is for informational purposes only and does not constitute investment advice.
