MINIMAX-W Plunges 18% as Lock-up Period Ends

HK Stock Market Update

Jul 9, 2026 at 12:30 AM

MINIMAX-W (100.HK) tumbled 18% during regular trading to HK$295.40.

The decline comes as the company's first batch of shares becomes unlockable, raising liquidity concerns among investors. While over 80% of cornerstone and early-stage shareholders, including Alibaba and miHoYo, have expressed intent to hold long-term, the sell-off pressure remains significant.

Additionally, JPMorgan recently cut its price target to HK$300, maintaining a "neutral" rating due to insufficient premium for the company's model capabilities.

MINIMAX-W (100.HK) tumbled 18% during regular trading to HK$295.40.

Additionally, JPMorgan recently cut its price target to HK$300, maintaining a "neutral" rating due to insufficient premium for the company's model capabilities.