MINIMAX-W (00100) surged 7.89% during Monday's intraday trading, driven by strong investor optimism surrounding its imminent entry into the Stock Connect program and the recent launch of its MiniMax H3 open-source multimodal generation model.

The stock, which listed on the Hong Kong Stock Exchange in January under a weighted voting rights structure, has now met the required six-month listing period and 20 trading days threshold, opening the window for inclusion in the Stock Connect scheme in early August. Analysts at CICC previously highlighted MINIMAX-W as a top candidate for Hang Seng Index inclusion, with formal results expected later this month.

Further fueling the rally, the company's July 31 debut of MiniMax H3 — its first open-source multimodal generation model — propelled shares over 11% that day. Goldman Sachs reiterated a Buy rating and a target price of HKD 860, naming the upcoming Stock Connect inclusion and the H3 launch as key catalysts for a significant valuation recovery in the second half of the year.