TechFlow News, March 31: According to Cailian Press, in 2025, Zhipu’s MaaS API platform achieved an Annual Recurring Revenue (ARR) of RMB 1.7 billion (approximately USD 250 million), a 60-fold year-on-year increase. Concurrently, the MaaS API platform’s gross margin rose nearly fivefold year-on-year to 18.9%, significantly enhancing profitability.
Financial results show that the company’s full-year revenue exceeded RMB 724 million, representing a 132% year-on-year growth—making it the largest large-model company in China by revenue scale. The company’s overall gross margin for the year reached 41%. Following an 83% price increase for its APIs in Q1 2026, the group reported a net loss of RMB 4.718 billion for fiscal year 2025, up from RMB 2.958 billion in 2024, primarily driven by continued increases in R&D investment. The company stated that “raising the intelligence ceiling” is the “first principle” of the AGI era and reiterated its commitment to achieving continuous breakthroughs in model intelligence.
