On August 21, MINIMAX-W declined 3.09% in regular trading, trading at 303.0 HKD/share, with turnover of HKD 153 million. The stock failed to sustain the previous session's technical rebound triggered by the launch of its MiniMax Design product.

On the news front, the company is scheduled to report interim results on August 26, and market participants remain divided on the sustainability of ARR growth. Short-selling activity has been elevated, with single-day short volume reaching 1.55 million shares on August 14 and consistently exceeding 1 million shares daily since August 6. Some investors have opted to reduce positions ahead of earnings disclosure. The stock has now retreated over 70% from its March high of HKD 1,330. Additionally, JPMorgan previously cut its target price from HKD 240 to HKD 160, highlighting significant institutional divergence on valuation, while Goldman Sachs maintains a 12-month target of HKD 800 citing API business momentum and H3 multimodal launch potential.

(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.)