On July 2, MINIMAX-WP declined 3.21% in regular trading, trading at 400.0 HKD/share, with turnover of approximately 44.88 million HKD. The stock continues its downward trajectory as the company's first major post-IPO lock-up expiry on July 9 draws imminent.

The upcoming unlock involves approximately 146 million shares, representing 63% of total issued capital. With the current actual free float at only about 5% of total shares, post-unlock supply is set to surge nearly tenfold. Although strategic shareholders Alibaba and miHoYo have publicly stated their long-term commitment and the founding team has voluntarily extended their lock-up to 12 months, financial investors comprise a significant portion of the unlocking cohort and are expected to have strong selling motivation. Additionally, lingering damage from previous API pricing hikes and the abrupt shift from per-call to per-token billing continues to weigh on developer sentiment, with some users having already migrated to competing platforms.

(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.)