On May 21, MINIMAX-WP rose 5.75% in regular trading, trading at HK$749.5/share, with trading volume of HK$46.45 million. The stock rebounded sharply after declining over 10% across the prior two sessions.

On the news front, Alibaba Cloud announced at the Alibaba Cloud Summit that its Bailian platform is now fully open, onboarding MiniMax M2.7 among other top-tier models. The partnership enables unified SDK access and flexible billing, significantly lowering the barrier for enterprise and developer adoption of MiniMax's capabilities.

Additionally, Morgan Stanley previously raised its target price for MiniMax to HK$1,100, projecting ARR to exceed US$1 billion by year-end. The company's ARR surged from US$100 million in December to US$150 million by February, a 50% jump in just two months following the M2.5 model launch. Multiple analysts have highlighted MiniMax's superior unit economics, with text API gross margins at 40% and multimodal API margins reaching 60%-70%, underpinning its competitive moat amid industry price wars.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)