On June 11, MINIMAX-WP declined 3.45% in regular trading, trading at 448.0 HKD/share, with trading volume of approximately 53.60 million HKD.

On the news front, although MINIMAX has been officially included in the Hang Seng Tech Index, its weighted voting rights (WVR) structure means it cannot be added to Stock Connect until August at the earliest, preventing it from accessing mainland capital inflows. This stands in stark contrast to peer Zhipu, which is already eligible for Stock Connect trading and has attracted significant southbound fund flows, creating a notable capital diversion effect.

Additionally, the company currently has a true free float of less than 6%. Approximately 34.25% of shares are set to be unlocked on July 9, with financial investors holding over one-third of that portion. Market concerns over the potential supply-side shock from these investors seeking exits continue to weigh on the stock price.

(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.)