On July 9, MINIMAX-WP declined 19.53% in regular trading. The stock faced significant selling pressure as the company formally entered its first major post-IPO lock-up expiry date.

Approximately 146 million shares became eligible for trading, representing 63% of total share capital, with an unlocked market value of roughly HK$59.39 billion. Financial investors account for over one-third of the newly unlocked shares. Prior to the expiry, the actual free float was only about 5%, and the potential tradeable share pool is now set to expand dramatically to approximately 50%.

While over 80% of pre-IPO and cornerstone shareholders — including Aspex, Boyu Capital, IDG, Alibaba, miHoYo, and state-backed entities such as China Life Investment — publicly committed to holding long-term, and the founding team voluntarily extended their lock-up to 12 months, the market remains cautious about potential profit-taking by financial investors given the stock still trades well above its HK$165 IPO 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.)