On June 2, MINIMAX-WP declined 3.39% in regular trading, trading at 673.0 HKD/share with trading volume of HKD 348 million, extending the prior session's sharp 15.71% sell-off.

The decline follows the company's May 31 announcement that it has engaged CITIC Securities as its sponsor and signed a tutoring agreement to formally pursue a listing on Shanghai's STAR Market, aiming to build an A+H dual-listing platform. The filing was publicly disclosed on the CSRC website, confirming the agreement was signed on May 29.

Market concerns center on potential equity dilution from the proposed A-share issuance, given the company listed in Hong Kong only in January at HKD 165 per share. Despite the recent pullback, the stock has still accumulated gains exceeding 300% from its IPO price. The substantial profit accumulated among early investors has intensified selling pressure as holders lock in gains. MiniMax remains loss-making, reporting an adjusted net loss of USD 251 million for 2025 on revenue of USD 79 million, further weighing on sentiment regarding near-term re-financing plans.

(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.)