JPMIMAX@EC2610E

Alipay Partners with AI Firms and Car Makers to Launch Full-Stack AI Payment Solutions and New Products

MiniMax stock price rises more than 6% again

MiniMax Upgrades Desktop Agent to Mavis with New Agent Teams Feature

MiniMax Launches '10xTeam' Collaboration Plan

MiniMax Analyzes Technical Reasons for M2 Model's Failure to Recognize Ma Jiaqi

Total valuation of China's Four AI Giants exceeds 1 Trillion Yuan

Five Departments Jointly Issue New Regulations Banning Virtual Intimate Services to Minors

Goldman Sachs Upgrades MiniMax Stock Rating to Buy with a Target Price of HKD 1,000

Visual China's Q1 Net Profit Soars 1,240%, Primarily Due to MiniMax Stock Price Fluctuations

Morgan Stanley Raises MiniMax Target Price, Sees Value in China's AI

UBS Report: MiniMax Stock Undervalued, Target Price at HKD 1,000

Citibank first covers MINIMAX-W with a Buy rating

VP of Xiyu Technology Xu Zizhao Analyzes the Development of Large Model Industry at the Forum

JP Morgan Maintains Overweight Ratings for KNOWLEDGE ATLAS and MINIMAX-W

Macquarie Initiates Coverage of MiniMax with a Target Price

Jefferies Gives MiniMax a Buy Rating with a Target Price of HKD1,118

Morgan Stanley Sees Strong AR Growth for MiniMax-W, Maintains Overweight Rating

MiniMax Changes Open Source Agreement for MiniMax2.7 Model, Sparks Controversy

MiniMax Reports 158.9% Increase in 2025 Revenue and Launches New Products

MiniMax Launches M2.7 Model

QPL INT'L

TRIGIANT

NICHE-TECH SEMI

BJ DIGITAL

NATURE ENERGY T

C.BANNER

CHUNCHENG HEAT

GW TERROIR

JLOGO HLDGS

KWONG MAN KEE

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The Hang Seng Index Company announced its quarterly review results this evening. According to Odaily, the Hang Seng Tech Index will include MINIMAX-Wand Zhipu, while removing Kingdee Internationaland Kingsoft. The number of constituent stocks remains at 30.

CoinLive

MINIMAX-W

KNOWLEDGE ATLAS

Hang Seng TECH Index

KINGDEE INT'L

KINGSOFT

Hang Seng Tech Index Adds MINIMAX-W and Zhipu, Removes Kingdee and Kingsoft

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KNOWLEDGE ATLAS(02513) rose 26.93%, with a trading turnover 3.6 Billion HKD, and a year-to-date rose 1003.3%. LENOVO GROUP(00992) rose 19.77%, with a trading turnover 8.3 Billion HKD, and a year-to-date rose 70.1%. BEKE-W(02423) fell 5.26%, with a trading turnover 875.3 Million HKD, and a year-to-date rose 5.1%. EASTROC(09980) fell 3.03%, with a trading turnover 14.8 Million HKD, and a year-to-date fell 38.7%.

Top Gainers&Losers

LENOVO GROUP

KB LAMINATES

BEKE-W

EASTROC

AKESO

CITIC SEC

GF SEC

Top 5 HK Stock Gainers/Losers (>100B) (5.22)

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02431

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51WORLD(06651) rose 28.57%, with a trading turnover 2.2 Billion HKD, and a year-to-date rose 140.4%. KNOWLEDGE ATLAS(02513) rose 26.93%, with a trading turnover 3.6 Billion HKD, and a year-to-date rose 1003.3%. MINIEYE(02431) rose 23.64%, with a trading turnover 669.7 Million HKD, and a year-to-date fell 27.5%.

51WORLD

MINIEYE

IMPACT THERAP-B

CAOCAO INC

GPIXEL

LEGENDHOLDING

Top 10 HK Stock Gainers (5.22)

STECH

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The Hang Seng Index Company will announce the quarterly review results on May 22, and the market generally expects MiniMax to be successfully included in the Hang Seng TECH Index, which is expected to attract hundreds of billions of southbound capital inflows. MiniMax, leveraging its technological iteration and product matrix advantages, has launched the M2.5 and M2.7 models, which have significant cost advantages, promoting the development of the AI intelligent ecosystem and becoming a mainstream choice in the market

同壁财经

HSTECH ETF

CAM HS TECH

ISHARESHSTECH

Hang Seng TECH ETF I

ChinaAMC Hang Seng Technology ETF(QDII)

Dacheng Hang Seng Technology ETF(QDII)

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

CSOP HS TECH

Tianhong Hang Seng TECH ETF(QDII)

CMS HS TECH

GX HS TECH

Morgan Stanley

MORGAN STANLEY DEP SHS EA REP 1/1000 SHS NON CUM PFD O

MORGAN STANLEY DEP SHS REPSTG 1/1000TH PFD SER Q

MORGAN STANLEY DEP SHS REPS 1/1000 7.125% PFD E

MORGAN STANLEY NON-CUM DEP SH REP 1/1000 PFD SER I

MORGAN STANLEY 4.875 DEP SHS REP 1/1000 NCUM PFD SR L

MORGAN STANLEY 6.5%DEP SHS REPSTG 1/1000 NON CUM SER P

MORGAN STANLEY DEP SHS REPS 1/1000 PFD SER 'A'

MORGAN STANLEY DEP SHS REPR 1/1000TH INT PFD SER 'F' FX

MORGAN STANLEY DEP SHS REP 1/1000 NON-CUM PFD STK SER K

The expectation of index inclusion catalyzes, MiniMax leverages technological iteration and product matrix advantages to embrace the trillion yuan capital windfall

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Shares of Zhipu AI surged 26.2% and Minimax Group rose nearly 17% amid speculation of their inclusion in the Hang Seng Indexes. Both companies, part of China's AI sector, have seen stock prices increase over 300% since January. Inclusion could attract significant capital inflows, with estimates of HK$51 billion to HK$92 billion for Zhipu and up to HK$47 billion for Minimax. This potential upgrade highlights the growing focus on technology firms in Hong Kong's stock market.

Stock Invest

Hang Seng Index

ISHARESHSI

Hang Seng Composite Index

Shares of China's Zhipu AI and Minimax Jump on Buzz of Hang Seng Index Inclusion

Hang Seng Indexes Company will announce its quarterly review results today. Analysts suggest KNOWLEDGE ATLAS and MINIMAX-W may be added to the Hang Seng Tech Index due to significant market cap increases. KNOWLEDGE ATLAS could attract up to HKD92 billion in southbound capital, while MINIMAX-W may not meet criteria until August. Other potential candidates for inclusion include BEONE MEDICINES and YUM CHINA. The review results will impact trading eligibility and market dynamics.

AASTOCKS News

BEONE MEDICINES

ZHAOJIN MINING

YUM CHINA

YUM China

Hang Seng China Enterprises Index

SUNNY OPTICAL

BeOne Medicines

Beigene

HSI Quarterly Review Results After Close; Analysts See KNOWLEDGE ATLAS, MINIMAX-W May be Added to HSTECH

MINIMAX-W rose 17.65%; Zhipu surged 29.41%, with a transaction volume reaching HKD 2.182 billion; Dipu Technology rose 10.61%, with a transaction volume reaching HKD 507 million; Haizhi Technology Group rose 13.48%, with a transaction volume reaching HKD 112 million; Jishijiao rose 3.37%, with a market value reaching HKD 10.9 billion

HK Stock Alerts

DEEPEXI TECH

HAIZHI TECH GP

EXTREME VISION

Hong Kong stock movement: MINIMAX-W rises 17.65%, Goldman Sachs optimistic about the dual benefits of inclusion in the Hang Seng Tech Index boosting stock price rebound

At today's close, MINIMAX-W's stock price fell sharply by 7.47% to HKD 687, with an intraday low of HKD 682, showing a clear pattern of opening high and closing low compared to the opening price of HKD 728. The MACD on the daily chart has once again formed a bearish crossover signal below the zero axis, indicating that the previously weak medium-term trend has further deteriorated, and selling pressure is accelerating. The trading volume reached HKD 835 million, ranking among the top in the Hong Kong stock market, with intense capital speculation but a clear bearish direction. From the opening price of HKD 728 to the closing price of HKD 687, the intraday fluctuation exceeded 7%, with increasing divergence between bulls and bears, but bears clearly held the upper hand. On the news front, the global AI industry is in a highly differentiated stage. NVIDIA is set to release its Q1 financial report this week, with market expectations for revenue growth of nearly 80% to reach USD 79.1 billion, and demand for AI infrastructure remains strong. However, the wave of "resisting AI" at the Cannes Film Festival and several university graduation ceremonies reflects growing societal concerns about the AI industry. For AI application companies like MINIMAX-W, despite strong underlying computing power demand, challenges remain in commercialization and user acceptance, leading to ongoing valuation discrepancies in the market. At the Alibaba Cloud Summit, the self-developed AI chip Zhenwu M890 and the Qianwen flagship model were announced, intensifying competition in the domestic AI ecosystem, with increasing competitive pressure on small and medium-sized AI companies. From a technical perspective, the stock price has fallen below several previous short-term support levels, with HKD 682 being today's intraday low and a key short-term position

Technical Forecast

NVIDIA

BABA-W

Alibaba

Micron Tech

NVIDIA Corporation

BABA-WR

Alibaba HK SDR 5to1

Pre-market trend | MINIMAX-W (0100.HK) fell sharply by over 7% on May 20, is short selling accelerating?

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GIGADEVICE(03986) rose 17.03%, with a trading turnover 2.8 Billion HKD, and a year-to-date rose 337.2%. HUA HONG SEMI(01347) rose 13.89%, with a trading turnover 7.5 Billion HKD, and a year-to-date rose 78.7%. MINIMAX-W(00100) fell 7.47%, with a trading turnover 834.9 Million HKD, and a year-to-date rose 316.4%. VGT(02476) fell 5.39%, with a trading turnover 1.7 Billion HKD, and a year-to-date rose 67.3%.

JPMIMAX@EC2610E(28572.HK)