Zhipu (2513) on Sunday announced a compensation and refund arrangement for users affected by the rollout of its new flagship large language model GLM-5 after admitting to three mistakes.
The company's share price decreased by 22.76 percent yesterday despite a rally in the Hong Kong stock market. Since February, its stock price has surged about 1.49 times.
It said that following the launch of its new flagship model GLM-5, it had made three main mistakes, including insufficient transparency in rules, an overly slow gray rollout pace for GLM-5, and a poorly designed upgrade mechanism for existing users.
In the letter, the company wrote: "After the launch of GLM-5, it was supposed to be a great time for everyone to enjoy coding. But over the past few days, we realized many of you were frustrated. We carefully reviewed every piece of feedback from the community and backend, and we feel deeply ashamed. We are sorry. This time, we truly fell short, but we will take full responsibility."
Zhipu said traffic after the launch exceeded expectations and capacity expansion failed to keep pace, prompting the model to be opened gradually under its Max, Pro and Lite tiers. Max users now have full access, while Pro users may face traffic limits during peak hours due to heavy cluster loads. Lite users will be gradually granted phased access during off-peak hours after the Chinese New Year.
For affected Lite and Pro users, the company said it supports voluntary refund applications. Refund requests will open within one week after the Chinese New Year, and users may log in to the "My Subscription" page before March 6 to cancel and request a refund.
Cynthia ZHONG
