GJMIMAX@EC2610A

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

Guosheng Securities initiates coverage of MINIMAX-W with a 'Buy' rating

RADIANCE HLDGS

ANCHORSTONE

RIVERINE CHINA

REACH NEW HLDGS

FINELAND LIVING

NUR HOLDINGS

GOLDEN LEAF INT

UBOT HOLDING

MAN YUE TECH

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FAST RETAIL-DRS(06288) rose 5.43%, with a trading turnover 12.1 Thousand HKD, and a year-to-date rose 45.5%. LI AUTO-W(02015) rose 4.34%, with a trading turnover 2.2 Billion HKD, and a year-to-date rose 18.5%. VGT(02476) fell 7.95%, with a trading turnover 1.5 Billion HKD, and a year-to-date rose 68.9%. BIREN TECH(06082) fell 6.24%, with a trading turnover 549.5 Million HKD, and a year-to-date rose 164.3%.

Top Gainers&Losers

FAST RETAIL-DRS

LI AUTO-W

MINIMAX-W

BABA-W

NIO-SW

BIREN TECH

DONGFANG ELEC

JD LOGISTICS

SIGENERGY

Top 5 HK Stock Gainers/Losers (>100B) (5.14)

NVDA

NVDL

NVDX

NVDU

SOXL

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07388

NVDY

NVDD

NVDQ

Trump has invited Nvidia CEO Jensen Huang to join a CEO delegation to a high-stakes summit in Beijing, emphasizing the tech firm's significance. Discussions will focus on AI chip market access, semiconductor export restrictions, and the delicate U.S.-China trade truce, along with sales of aircraft and agricultural products. The summit will also address geopolitical issues, including the Iran war and U.S. arms sales to Taiwan, reflecting the broader economic and political pressures influencing both leaders' agendas.

- Trump invited Nvidia's Jensen Huang to join a CEO delegation to Beijing, indicating the company's significance in strategic tech discussions.  
- The talks will focus on AI chip market access, semiconductor export restrictions, and the delicate U.S.-China trade truce, in addition to discussions about aircraft and agricultural sales.  
- The summit will also address the Iran conflict, U.S. arms sales to Taiwan, and the economic and political challenges impacting both nations' leaders.

NVIDIA

GraniteShares 2x Long NVDA Daily ETF

T-Rex 2X Long NVIDIA Daily Target ETF

Direxion Daily NVDA Bull 2X Shares

Direxion Semicon Bull 3X

XL2CSOPNVDA

XI2CSOPNVDA

YieldMax NVDA Option Income Strategy ETF

Direxion Daily NVDA Bear 1X ETF

T-Rex 2X Inverse NVIDIA Daily Target ETF

Trump brings Nvidia CEO to high-stakes Beijing summit

Xie Feng, China's Ambassador to the US, highlighted China's leadership in AI patents and its role in global intelligent transformation, boosting MINIMAX-W's stock by 18.46% to HKD818. The stock had a market cap of HKD256.558 billion and a turnover of HKD1.992 billion. Other Hong Kong-listed AI stocks also surged, with KNOWLEDGE ATLAS rising 36.9% and XUNCE increasing by 23.88%.

AASTOCKS News

CN Ambassador to US' Remarks Boost MINIMAX-W, which Leaps 18%+ at End w/ HKD256.5B+ Mkt Cap

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KNOWLEDGE ATLAS(02513) rose 36.9%, with a trading turnover 3.6 Billion HKD, and a year-to-date rose 889.7%. MONTAGE TECH(06809) rose 21.31%, with a trading turnover 2.7 Billion HKD, and a year-to-date rose 368.7%. GEELY AUTO(00175) fell 5.23%, with a trading turnover 2.5 Billion HKD, and a year-to-date rose 19.4%. GANFENGLITHIUM(01772) fell 3.96%, with a trading turnover 1.1 Billion HKD, and a year-to-date rose 54%.

- The Hang Seng Index rose by 0.15%, with a year-to-date increase of 3%.  
- The Hang Seng Tech Index increased by 0.46%, but has seen a year-to-date decline of 7.7%.  
- Notable stock performances include Zhicheng (02513) up 36.9%, with a total increase of 889.7% for the year, while Geely Auto (00175) fell by 5.23%, reflecting a year-to-date increase of 19.4%.

KNOWLEDGE ATLAS

MONTAGE TECH

HUAQIN

GIGADEVICE

GEELY AUTO

GANFENGLITHIUM

CPIC

SMIC

TIANQI LITHIUM

Top 5 HK Stock Gainers/Losers (>100B) (5.13)

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KNOWLEDGE ATLAS(02513) rose 36.9%, with a trading turnover 3.6 Billion HKD, and a year-to-date rose 889.7%. HANS CNC(03200) rose 30.91%, with a trading turnover 1.2 Billion HKD, and a year-to-date rose 94.5%. XUNCE(03317) rose 23.88%, with a trading turnover 2.0 Billion HKD, and a year-to-date rose 460.8%.

HANS CNC

XUNCE

ASIA TELE-NET

BWI INT'L

INNOSCIENCE

TIMES ELECTRIC

ZHIDA TECH

Top 10 HK Stock Gainers (5.13)

MINIMAX-W rose 15.06%; Zhipu surged 29.17%, with a transaction volume of HKD 2.459 billion; Dipu Technology fell 3.06%, with a transaction volume of HKD 771 million; Haizhi Technology Group fell 0.68%, with a transaction volume of HKD 106 million; Jishijiao rose 3.74%, with a market value of HKD 11.9 billion

HK Stock Alerts

DEEPEXI TECH

HAIZHI TECH GP

EXTREME VISION

Hong Kong stock movement: MINIMAX-W rises 15.06%, driven by the AI industry boom and the "10x Team" plan boosting stock prices

MiniMax, a Chinese AI startup, has launched the "10x Team" program to recruit top experts in various fields, offering competitive salaries in yuan. The program aims to integrate expertise with AI capabilities to enhance research efficiency. Participants can join as full-time researchers or through a fellowship, with opportunities in major cities worldwide. Despite a significant net loss reported, MiniMax's shares rose 6.1% following the announcement. The company aims to support collaboration and maintain relationships with external institutions while providing access to advanced resources.

Yicai

OpenAI

Chinese AI Startup MiniMax Launches New Cross-Sector Recruitment Program for Top Experts

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SIGENERGY(06656) rose 6.7%, with a trading turnover 173.6 Million HKD, and a year-to-date rose 74.3%. HENGRUI PHARMA(01276) rose 4.84%, with a trading turnover 1.4 Billion HKD, and a year-to-date fell 2.5%. KNOWLEDGE ATLAS(02513) fell 6.56%, with a trading turnover 779.8 Million HKD, and a year-to-date rose 622.9%. MINIMAX-W(00100) fell 6.31%, with a trading turnover 881.7 Million HKD, and a year-to-date rose 318.5%.

HENGRUI PHARMA

CRRC

YOFC

PETROCHINA

WEICHAI POWER

Top 5 HK Stock Gainers/Losers (>100B) (5.12)

CMSI's report highlights the unstoppable commercialization of China's large model industry, initiating coverage on KNOWLEDGE ATLASand MINIMAX-Wwith Overweight ratings. The report notes significant growth in China's AI market, projected to reach RMB993 billion by 2030. It emphasizes the narrowing competition between China and the US in large models, with both companies focusing on full-modality AI deployment. Revenue CAGR for KNOWLEDGE ATLAS is forecasted at 172%, while MINIMAX-W is projected at 193% for 2025-2028, with narrowing net loss margins.

Alibaba

BABA-WR

Alibaba HK SDR 5to1

CMSI: China Large Model Industry Agent Commercialization Unstoppable; Initiates KNOWLEDGE ATLAS  and MINIMAX-W at Overweight

MINIMAX-W-22.000 (-2.963%) Short selling $35.05M; Ratio 3.977% announced the launch of its 10x Team collaboration program and simultaneously opened 10x Team researcher positions on recruitment platforms, inviting experts from vertical fields including industrial software, game engines, chip design, finance and financial management. The 10x Team operates more like an industry research partner mechanism, aiming to replicate the tenfold efficiency leap seen in programming across more industries.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-08 16:25.)

MINIMAX-W Switches on 10x Team Program to Recruit Cross-sector Talent

$MINIMAX-W(00100.HK)how low will it goes?

Today’s Key News Recap

0413 | Dolphin Focus — 🐬 Macro/Industry. 1) Trump announced that, after US-Iran talks in Pakistan collapsed, the US military will at 10:00 ET on Apr 13 (10pm Beijing time tonight) impose a full blockade of Iranian ports and the Strait of Hormuz.It will intercept all vessels to and from Iran and cut off its oil exports. Iran's military issued a hardline response, stating any US approach will be treated as a provocation and met with firm retaliation.This would sharply elevate geopolitical risk and disrupt shipping, chemicals and related supply chains. It would also reinforce expectations that the Fed keeps rates higher for longer, putting near-term pressure on HK stocks and growth names.

Apple

HORIZONROBOT-W

HorizonRobo HK SDR1to1

Huawei

MIXUE GROUP

KraneShares 2x Long BABA Daily ETF

YieldMax BABA Option Income Strategy ETF

BABA 2x Long Daily ETF - GraniteShares

MiniMax M2.7 open-sourced globally; AAPL's first foldable slated for Fall 2026 | Daily News Recap

智谱

Financial Analysis

Up 6x in a single quarter, the investor darling and foundation-model poster child—Zhipu—has reported as well.Against such a parabolic stock move, 2H25 performance looks much calmer—but does it even matter?Straight to the point: 1) Revenue: API biz ARR reached RMB 250 mn in Mar.Everything else is minor.Among domestic independent model vendors, $KNOWLEDGE ATLAS(02513.HK) is a pure homegrown LLM player, with talent anchored in universities and a client base largely comprising the Gov. and SOEs on the B2B side.Execution is heavy on on-prem deployment and delivery...

ZHIHU-W

Zhihu

Minim

FiEE

Zhipu: RMB 700mn profit vs. RMB 3.2bn loss? Dream first—fretting over losses is small-minded

MiniMax

Deep Research

In the business-model analysis 'Deep Dive into MiniMax and Zhipu: Are Foundation Models, Compute Intensity and Financing Stamina the Decider?', Dolphin Research argued that amid high costs and rapid iteration, the foundation-model industry has turned into a brutal test of financing endurance. But the true core of that money magnetism rests on two fundamentals for model companies: 1) model capability; 2) product and commercial execution. This piece focuses on how $MINIMAX-W(00100.HK) performs on those two fronts...

Alphabet - C

Alphabet

DeepSeek

Destiny Tech100

MiniMax’s sky‑high valuation: bubble or the future?

美图公司

Beijing time on Mar 27, after the HK close and before the US open, $MEITU(01357.HK) released its FY25 results. The 2H25 read-through was weak, with revenue below expectations and a sizable GP miss.Expense control beat by a wide margin, keeping OP roughly in line. That said, the subscription user ecosystem that underpins recurring revenue is under heavy pressure, so Dolphin Research’s overall take is negative.On the earnings call, management addressed the 'AI will eat software' narrative, stressing that models are infrastructure while applications are the value-delivery layer. The two are complementary rather than substitutes...

MEITU

Meitu: AI Agent Era — Can Niche SaaS Survive?

Xiaomi

Conference Minutes

XIAOMI

NewUser_ILpXjN

1) Xiaomi Spring Launch: Key Points. $XIAOMI-W(01810.HK) The event's highlights were the SU7 refresh and progress on its AI foundation model. a) New-gen SU7: essentially a mid-cycle refresh. Exterior changes are minor, with the focus on hardware upgrades and a small price bump. On configs, the update favors the Standard and Pro trims. Across the lineup, standard kit now includes the V6s Plus super e-motor, lidar and 4D mmWave radar, NVIDIA Thor-U, the Jiaolong chassis, and front four-piston fixed calipers. Pricing-wise...

ePlus

MediaAlpha

Pros

Xiaomi HK SDR 2to1

XIAOMI-W

XIAOMI-WR

Xiaomi Corporation

Kingsoft Office

Intel

INTEL-T

Plus500 Ltd.

Xiaomi (Spring Launch): SU7 gets a quiet refresh; MiMo free for a limited time to climb the charts

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0318 | Dolphin Research Watchlist: 🐬 Macro/Industry 1) The Fed kicked off its two-day FOMC meeting on Mar. 17 local time. The market broadly expects the policy rate to stay at 3.50%–3.75%.However, sticky inflation (PPI at 2.9%) and a Middle East-driven oil spike (WTI above $100) are tightening expectations for 2026 cuts. Investors are dialing back the number of cuts priced in. If the dot plot due on the 18th indicates just one cut in 2026—or none at all...

Microsoft

Meta Platforms

Micron Tech

Lululemon

TME-SW

Tencent Music

HWORLD-S

MiniMax debuts M2.7, shows a 'self-evolving' model; META trims 'metaverse' again | Daily News Recap

GJMIMAX@EC2610A(29161.HK)

Top 5 HK Stock Gainers/Losers (>100B) (5.14)

Trump brings Nvidia CEO to high-stakes Beijing summit

CN Ambassador to US' Remarks Boost MINIMAX-W, which Leaps 18%+ at End w/ HKD256.5B+ Mkt Cap

Top 5 HK Stock Gainers/Losers (>100B) (5.13)

Top 10 HK Stock Gainers (5.13)