On July 6, MINIMAX-WP fell 4.5% in regular trading, trading at HK$327.2/share, with turnover of approximately HK$40.55 million.

On the news front, the company is set to face its first major post-IPO lockup expiry on July 9, involving approximately 146 million shares representing 63% of total share capital. With the current free float at only about 5%, the unlocking will dramatically expand market supply by nearly tenfold, intensifying investor concerns over imminent selling pressure.

While strategic shareholders Alibaba and miHoYo have publicly pledged long-term commitment and the founding team has voluntarily extended their lockup to 12 months, financial investors among the unlocked shareholders are perceived to have stronger motivation to reduce holdings. The stock has already retreated over 75% from its March high of HK$1,330. Additionally, the company recently launched an approximately HK$600 million equity incentive plan to retain core talent, though market sentiment remains dominated by near-term supply overhang fears.

(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.)