---
title: "Hong Kong stock movement: Goldman Sachs upgrades rating, boosting MINIMAX-W by 10.24%. What are the hidden concerns behind the market's enthusiasm?"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285041220.md"
description: "MINIMAX-W rose 10.24%; Zhipu rose 9.56%, with a transaction volume of HKD 1.362 billion; Dipu Technology rose 0.84%, with a transaction volume of HKD 42.84 million; Jishijiao fell 2.81%, with a transaction volume of HKD 41.75 million; Haizhi Technology Group rose 0.04%, with a market value of HKD 18.9 billion"
datetime: "2026-05-04T07:46:04.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285041220.md)
  - [en](https://longbridge.com/en/news/285041220.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285041220.md)
---

# Hong Kong stock movement: Goldman Sachs upgrades rating, boosting MINIMAX-W by 10.24%. What are the hidden concerns behind the market's enthusiasm?

**Hong Kong Stock Movement**

MINIMAX-W rose by 10.24%. Based on recent key news:

1.  On May 4th, MINIMAX-W saw large transactions amounting to HKD 23.888 million, driving the stock price up. The large transaction amount exceeded HKD 20 million, indicating strong market interest in the stock.
    
2.  On May 4th, Goldman Sachs upgraded MINIMAX-W's rating from Neutral to Buy, setting a target price of HKD 1,000. Goldman Sachs analysts pointed out that the robust annual recurring revenue trend and the upcoming release of the M3 model and Sea Conch 3 are the main driving factors.
    
3.  On May 4th, after a 40% pullback in the stock price of Xiyu Technology, the market risk-reward is favorable. The stock price pullback over the past month is attributed to concerns over model competition and technical selling pressure. Market attention on AI technology continues to rise, with clear capital flows.
    

**Stocks with High Trading Volume in the Industry**

Zhipu rose by 9.56%. There has been no significant news recently; trading is active, and capital flows are clear. Considering the sector and industry trends, the stock shows significant volatility, and specific reasons need further observation. no\_news

Dipu Technology rose by 0.84%, with a trading volume of HKD 42.84 million, and there has been no significant news recently. Trading is active, and capital flows are clear. Considering the sector and industry trends, the stock shows significant volatility, and specific reasons need further observation.

Jishijiao fell by 2.81%, with a trading volume of HKD 41.75 million, and there has been no significant news recently. Trading is active, and capital flows are clear. Considering the sector and industry trends, the stock shows significant volatility, and specific reasons need further observation.

**Stocks with High Market Capitalization in the Industry**

Haizhi Technology Group rose by 0.04%, with a market capitalization of HKD 18.9 billion, and there has been no significant news recently. Trading is active, and capital flows are clear. Considering the sector and industry trends, the stock shows significant volatility, and specific reasons need further observation

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