0913 GMT - MiniMax is set to benefit from China's AI commercialization trend, Daiwa analyst John Choi says in a research note. "MiniMax has steadily narrowed the capability gap with leading Western model developers while maintaining a strong cost-efficiency advantage," he says. Its flagship M3 model currently ranks competitively on global benchmarks despite "significantly lower" research and development spend and fewer resources. Daiwa keeps a buy rating on the stock with a target price of HK$530.00. Shares closed at HK$357.40.