Floating loss of $367,000; Zhipu's largest long position, using 10x isolated margin, still adds 409.1 units

According to monitoring by HyperInsight, ZHIPU fell before the Hong Kong stock market opened, dropping to a low of $120.7 within approximately one hour, a decline of about 17%, with losses continuing during Hong Kong trading hours. On the news front, Zhipu completed a placement of 19.78 million new H-shares on July 13; on July 17, Moonshot AI released the 2.8 trillion parameter open-source model Kimi K3, causing Zhipu's Hong Kong-listed shares to fall by 28.49% that day. As of press time, no new company-level negative news has been reported today.

The largest long position holder of Zhipu, a certain whale, is currently long on 7,300 units using 10x isolated margin, with a position value of approximately $905,000, an average entry price of $174.2, and a liquidation price of about $78.3. The floating loss is roughly $367,000, representing a loss of about 288.2% in return, equivalent to 2.88 times the initial investment of $127,000. This whale first opened a long position near $198.45 on the evening of July 6 and has not sold since; at 10:12 AM today, they added 409.1 units at $129.6.