MINIMAX-W's stock surged 5.05% during intraday trading, propelled by a wave of buying interest following its formal inclusion in the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect programs.

The Stock Connect eligibility, effective from August 6, triggered substantial northbound capital inflows, with mainland investors net buying HKD 26.96 billion on the first day of trading. Goldman Sachs reiterated a Buy rating with a target price of HKD 860, citing the inclusion and the rapid ecosystem deployment of MINIMAX's open-source H3 multimodal model as key drivers for a valuation recovery in the second half of the year.

Management further bolstered investor confidence by projecting at least USD 1 billion in annual recurring revenue by year-end, underscoring the company's strong growth outlook.