7月27日，MINIMAX-W午后涨超13%，报222.6港元/股，成交额超7亿港元。
消息面上，高盛发布针对MiniMax的CEO交流会纪要研报，重申MiniMax“买入”评级，目标价860港元。高盛称，MiniMax核心战略主打模型极致性价比，M3模型日处理万亿token且API业务毛利率健康，预期9月至10月将推出的M3 Pro将拥有显著成本效益。高盛预期MiniMax将于今年8月纳入港股通，加上目前市值对比中国视频生成模型同业在明显折让，公司阐述的M3模型竞争力策略及即将推出的H3多模态产品，可望成为年度经常性收入(ARR)增长的正面驱动力，于下半年带动显著估值修复空间。
花旗发表报告称，管理层对行业前景及公司策略释出正面讯号。MiniMax将聚焦“极致智能及极致成本效益”策略。管理层认为，自建运算基础设施是其重要竞争优势，其GPU集群利用率超过90%，高于行业平均水平。公司已于去年自建数据中心，在硬件价格近期急升前锁定较低成本，形成结构性成本优势。
（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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