[Macquarie: Zhipu Launches GLM-5.2 with Positive Impact, Enhancing Pricing Power] DeepTech TechFlow reports that on June 16, Macquarie released a research report stating that Zhipu (02513.HK) has launched the GLM-5.2 model and made it available first to all GLM Coding Plan subscribers (Lite/Pro/Max/Team). This model is positioned as the company's most powerful open-source model to date, focusing on long-cycle code writing, agent engineering, and complex system tasks. Independent API access and pricing, as well as open-source weights under the MIT license, are planned to be released next week. Although no benchmark data was disclosed at the time of launch, initial community feedback from social media and developer forums has been excellent, indicating that GLM-5.2's performance in coding and long-cycle agent tasks is comparable to Claude Opus 4.7. Macquarie believes the launch of GLM-5.2 brings positive impacts and may enhance the company's pricing power in subsequent subscription plans, which should continue to drive strong annual recurring revenue growth momentum. The firm maintains its Outperform rating on Zhipu, with a 12-month target price unchanged at HK$1,221.4. (Jin10)