Z.AI
$626.50Change from previous close: −2.26%Absolute change: −$14.50
At a glance
- Revenue growth
- +131.85%
- 2025 vs 2024
- Net margin
- -648.6%
- 2024: -946.3%
Financial data
Amounts in millions of CNY; per-share values in CNY; shares in millions.
| Item | Q2 2026 | Q4 2025 | Q2 2025 | Q4 2024 | Q2 2024 |
|---|---|---|---|---|---|
| Operating cash flow | -3,374 | -919 | -1,327 | -1,250 | -995 |
| Depreciation and amortization | 135 | 141 | 139 | 143 | 136 |
| Capital expenditure | -586 | 1.2 | -12.7 | -27.6 | -98.4 |
| Investing cash flow | -703 | 180 | -556 | 90.2 | -139 |
| Financing cash flow | 5,786 | 449 | 2,165 | 2,496 | 816 |
| Debt issued | 1,572 | 689 | 700 | 267 | — |
| Debt repaid | -172 | -209 | -106 | -85.6 | -61.8 |
| Effect of exchange rates | -76.4 | -7.5 | 2.2 | 0.4 | 0.0 |
| Net change in cash | 1,633 | -297 | 284 | 1,336 | -317 |
| Free cash flow | -3,960 | -918 | -1,340 | -1,278 | -1,093 |
| Levered free cash flow | -12,493 | 119 | 2,376 | 2,167 | — |