On August 3, MINIMAX-W rose 9% in regular trading, trading at 251 HKD/share.

On the news front, as a weighted voting rights company listed on the Hong Kong Stock Exchange on January 9, MINIMAX-W has now met the required six-month listing period and 20 trading days threshold, entering the formal Stock Connect inclusion window in early August. Additionally, CICC previously published a Hang Seng Index adjustment preview report, noting that MINIMAX-W meets the criteria for index inclusion and ranks among the top potential candidates, with formal results to be announced after market close on August 21 and implementation on September 7.

Meanwhile, sentiment was further lifted by the company's recent launch of MiniMax H3, its first open-source multimodal generation model, which drove shares up over 11% on July 31. Goldman Sachs reiterated a Buy rating with a target price of HKD 860, citing the upcoming Stock Connect inclusion and H3 as catalysts for significant valuation recovery in the second half.

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