MINIMAX-WP's stock price plummeted 5.02% during intraday trading on Monday.

The sharp decline coincides with a broader wave of IPO lock-up share expirations hitting the Hong Kong market this week. MiniMax is among the companies facing such expirations, with a significant 45% of its outstanding shares set to be unlocked from their post-listing restrictions.

Analysts note that the expiration of lock-up periods, which prevent early investors from selling their shares, can create substantial selling pressure and liquidity headwinds in the market. Historical data suggests prices typically dip following such events, adding to investor caution regarding affected stocks like MINIMAX-WP.