MiniMax (100.HK) climbed as much as 3% in Hong Kong trading, extending a two-day rally of more than 20%, on the launch of its next-generation AI video model and strong first-half results. The stock was last at HK$339.80, up 0.89%.
The company recently unveiled H3 Max, a video generation model that produces five seconds of 768p audio-video content in just three seconds — roughly 35 times the throughput of its predecessor — and topped multiple benchmarks. An AI livestreaming application built on the model has drawn significant market attention.
Separately, MiniMax reported first-half revenue of $117 million, up 2.8 times from a year earlier, with annualized recurring revenue surpassing $800 million. A co-founder said the company is increasingly confident of reaching a $1 billion ARR target by year-end.
Southbound flows via Stock Connect net bought approximately HK$763 million of MiniMax shares on September 1, with the stock ranking among the most actively traded on both the Shanghai and Shenzhen Connect channels.