HK Stock Market Move | MINIMAX-W (00100) has risen by more than 11%, and the fifth set of standards on the Science and Technology Innovation Board will expand the AI track. The company's return to A shares will bring an opportunity for revaluation.

MINIMAX-W(00100) has risen by more than 11%, and as of the time of writing, it has increased by 9.44%, reaching 484.8 Hong Kong dollars, with a turnover of 7.6 billion Hong Kong dollars. On the news front, on June 17, 2026, the Shanghai Lujiazui Finance & Trade Zone Development Forum released a major signal for the capital market, with the chairman of the China Securities Regulatory Commission, Wu Qing, announcing the expansion of the application scope of the fifth set of standards of the Sci-Tech Innovation Board to the field of artificial intelligence large models, and explicitly supporting compliant Hong Kong-listed companies to list on the domestic market. On the same day, the Shanghai Stock Exchange also released the "Listing Guidelines for AI Large Model Enterprises Applying the Fifth Set of Standards of the Sci-Tech Innovation Board," detailing the listing review rules for AI companies. It is worth noting that earlier, MiniMax had officially signed a contract with CITIC SEC to promote its A-share IPO guidance work. The article titled "Expansion of the AI Race with the Fifth Set of Standards of the Sci-Tech Innovation Board: MiniMax-W(00100) Welcomes the Golden Opportunity to Return to A" points out that the special guidance issued by the Shanghai Stock Exchange is specifically tailored to the AI large model track, no longer simply using profitability and revenue scale as thresholds, while regulators encourage high-quality Hong Kong-listed technology companies to build a dual listing structure with A+H. Companies can leverage both Hong Kong's international financing channels and A-share domestic industry capital platforms to continue to increase their computing power reserves and model iteration research and development. The A-share market has always given higher valuation premiums to hard technology and leading large model companies, and it attracts long-term funds such as social security, industrial funds, and domestic industry capital. With the acceleration of the return to A process, MiniMax will have an opportunity for valuation reassessment.