Companies Technology
Z.AI
HK$484.20+HK$42.20 (+9.55%) on the day
Technology, Software - Infrastructure. Revenue of CN¥724m in the year to Dec 2025, up 131.9%, with an operating margin of −521.9%.
Against its peers
Z.AI (filled) against the other 48 technology companies among the 200 largest in the six Asian markets. Tap or hover a dot to read it.
Yahoo Finance, 4 Nov 2026. P/E on the last four quarters' diluted EPS; revenue growth and operating margin for each company's last fiscal year; debt to equity at the last balance sheet; dividend yield on the last 12 months' dividends.
Valuation
Not modelled yet: free cash flow was −CN¥2.3bn in the year to Dec 2025, and a cash flow model needs a positive starting point to mean anything.
Where revenue goes
In the year to Dec 2025 costs exceeded revenue: Z.AI lost CN¥656 for every CN¥100 of revenue.
Annual report for the year to Dec 2025, via Yahoo Finance. Items under 0.5% of revenue are folded into the next line.
Revenue and profit, 4 years
Revenue and net income each fiscal year, in billions of yuan. Tap or hover a year to read it.
RevenueNet income
Annual reports, via Yahoo Finance.
Cash flow and investment
Cash from operations, what went into capital spending, and the free cash flow left, in billions of yuan.
Cash from operationsCapital spendingFree cash flow
Annual reports, via Yahoo Finance.
Balance sheet
Cash and short-term investments, debt and shareholders’ equity at each fiscal year end, in billions of yuan.
Cash and investmentsDebtEquity
Annual reports, via Yahoo Finance. Debt excludes leases.
Returns to shareholders
Dividends paid and shares bought back each fiscal year, against net income, in billions of yuan.
DividendsBuybacksNet income
Annual reports, via Yahoo Finance.
Share price returns
Price change over each period to the close of 4 Nov 2026, without dividends.
| Series | 1 month | 3 months | Year to date | 1 year |
|---|---|---|---|---|
| Z.AI | −27.2% | −53.5% | n/a | +268.2% |
| Technology average (49) | n/a | n/a | n/a | n/a |
| Hang Seng | −0.5% | −7.7% | −6.7% | −7.8% |
Yahoo Finance daily closes, in Hong Kong dollars. The sector average is the simple average of its companies among the 200 largest in the six Asian markets.
Against the market
Z.AI and the Hang Seng over the past year, both rebased to 100, each in its own currency.
Z.AIHang Seng
Yahoo Finance, daily closes to 4 Nov 2026.
Risk
How much the shares move, and how far they have fallen from their high over the past year.
- Volatility, 1 year177%Annualised daily moves; the Hang Seng moved 19%
- Beta to the Hang Seng1.371.0 moves with the market
- Deepest fall, 1 year−81.7%22 Jun 2026 to 3 Nov 2026
- Below its high−79.9%Against the year’s highest close
Yahoo Finance daily closes. Beta from daily returns against the Hang Seng.
Investment memo
Coming with the Andra Markets subscription: a full memo on Z.AI, written for professionals.
- The thesis and what would change it
- Segment by segment, with the model's full workings
- Three scenarios with their assumptions
- What to watch at the next results
Ahead
No results date in the calendar yet. It appears here once the company or Yahoo Finance posts one.
For information only. Not investment advice.