On August 5, MINIMAX-W rose about 8%, rebounding from the previous session's decline to 232.6 HKD.

On the news front, the stock was supported by the recent open-source release of MiniMax H3, a next-generation multimodal generation model that ranks in the global top tier on the Artificial Analysis video model benchmark, achieving first place in video editing capability. The model is priced at just RMB 0.8 per second at default 2K resolution, demonstrating strong cost competitiveness among peers. Multiple brokerages issued positive notes: China Merchants Securities maintained a Strong Recommend rating citing M3's acceleration of productivity use cases; Citi maintained a Buy/High Risk rating highlighting H3's cost advantage; and Jefferies reiterated Buy, noting cost efficiency will accelerate commercial deployment.

Additionally, as a weighted voting rights company listed on January 9, MINIMAX-W has now satisfied the six-month and 20-trading-day requirements for Stock Connect inclusion. Goldman Sachs reiterated a Buy rating with a target price of 860 HKD, citing Stock Connect inclusion and H3 as catalysts for second-half valuation recovery.

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