7月20日，MINIMAX-W盘中下跌4.72%，报209.6港元/股，成交额1.72亿港元，股价逼近52周新低。
消息面上，公司此前完成配售3560万股新A类股份及发行65亿港元零息可转换债券，合计融资约160亿港元，股本扩张约11.35%，对现有股东形成显著摊薄压力。同时，7月9日首批约48.9%限售股解禁后，财务投资者的集中抛售仍未充分消化，短期多重卖压持续施压。此外，竞争对手月之暗面于7月16日发布2.8万亿参数开源模型KimiK3，进一步加剧行业竞争格局，板块龙头智谱同日亦大跌逾7%，行业整体表现偏弱。
（以上内容均基于市场公开消息，由程序或算法智能生成，仅作为股价异动提醒，不作为投资建议或交易依据。）
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