Frost & Sullivan: The MiniMax-W(00100)H3 multimodal model has significant cost-effectiveness and reaffirms the Buy rating.

date
13:49 03/08/2026
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GMT Eight
Reiterate the "Buy" rating, with a target price of HKD 1,118.
Futu released a research report stating that MiniMax-W (00100) has officially launched the multimodal generative model H3, which supports user inputs from various sources such as text, images, audio, and video, and can generate videos based on complex multimodal content, with a maximum output of 15 seconds in 2K resolution. It features powerful multimodal contextual understanding and can already be applied in various commercial scenarios such as advertising, e-commerce, and product design. In terms of pricing, according to Futu's statistics, H3 is believed to be priced at about half that of its industry peers at 768p resolution, and only one-third at 2K resolution, offering significant cost-effectiveness and is expected to be competitive. Futu believes that the launch of H3 further solidifies MiniMaxs competitive position in the field of AI video generation, and its cost advantages will help expand enterprise clients and accelerate commercialization. They reaffirm a buy rating with a target price of HKD 1,118.