Zhipu AI's MaaS platform has reached 1.7 billion yuan in annual recurring revenue, driven by explosive API demand that grew 60x over the past year. The Hong Kong-listed company posted 724 million yuan in 2025 revenue, up 132% year-on-year, with nine of China's top 10 internet companies now using its GLM models. https://pandaily.com/zhipu-s-maa-s-arr-hits-rmb-1-7-billion-driven-by-api-boom #China #Tech #AI #Zhipu