Lyon: The training ability of Zhipu GLM-5.3 has significantly improved, maintaining the "outperform the market" rating BlockBeats news, on August 19th, Lyon released a research report stating that the GLM-5.3 API of Zhipu (02513. HK) will be open for call from now on, demonstrating leading performance in complex encoding and long-period proxy tasks among domestic peers. Although the parameter scale is small, it has achieved open weight SOTA performance in various benchmark tests and scored 60 points in the Artificial Analysis Intelligence Index, which is on par with Kimi 3 and surpasses Tongyi Qianwen's 3.8 Max. The bank estimates that the OpenRouter revenue share of the GLM model has increased from 1% in January this year to 7% in July, leading DeepSeek by 6% and the monthly dark side by 3%. It is believed that DeepSeek's recent price increase reflects healthy competition in the industry, while GLM 5.3 has regained its position as a Pareto front. The recent weak stock price may reflect the market's overreaction to Anthropic's annualized recurring income slowdown, maintaining the "outperform the market" rating of Zhipu, with a target price of HKD 2061. (Golden Ten)