GLM-5.2 rolls out first to GLM Coding Plan subscribers
According to TechFlow, Macquarie published a research report on June 16 saying that Zhipu, listed in Hong Kong as 02513.HK, has released its GLM-5.2 model. The model has first been made available to all GLM Coding Plan subscribers, including users on the Lite, Pro, Max and Team plans. Macquarie said GLM-5.2 is positioned as the company’s most powerful open-source model to date, with a focus on long-horizon code writing, agent engineering and complex system tasks.
The report noted that independent API access and pricing for GLM-5.2, as well as open-source weights under the MIT license, are scheduled to be introduced next week. Macquarie also stated that benchmark data was not released at the initial launch stage, so the early discussion around model performance is based on community feedback rather than published benchmark results.
Early developer feedback and Macquarie’s view
Macquarie cited initial feedback from social media and developer forums as highly positive. According to the report, early users said GLM-5.2 performed strongly in coding and long-horizon agent tasks, with some community comments comparing its performance to Claude Opus 4.7. The feedback described in the report centers on coding workflows, agent engineering use cases and tasks that require sustained multi-step execution.
Macquarie said the launch of GLM-5.2 is a positive development for Zhipu and may strengthen the company’s pricing power in later subscription plans. The firm said this should continue to support strong annual recurring revenue growth momentum. Macquarie maintained its Outperform rating on Zhipu and kept its 12-month target price unchanged at HK$1,221.4. The item was attributed to Jinshi.