Chinese labs cut LLM API prices six times in the first half of 2026, and three of those cuts were declared permanent. DeepSeek V4-Pro now costs $0.87 per million output tokens. Xiaomi MiMo V2.5 flattened its long-context tier to $3 output. Alibaba’s Qwen3 Max ships at $3.90. Moonshot’s Kimi K2.6 holds the cache-hit floor at $0.07. Zhipu’s GLM-5...