HK Stock Market Move | MINIMAX-W(00100) surged over 20%, entering a phase of valuation recovery. The H3 video model has topped the open-source community leaderboard.

MINIMAX-W (00100) surged more than 20% against the trend, rising 20.02% to HKD 304.6 as of the time of writing, with a transaction volume of HKD 7.837 billion. In terms of news, on August 6, MiniMax was officially included in the Hong Kong Stock Connect, allowing mainland investors the opportunity to trade through this channel. LiveReport predicts that MiniMax may attract no less than HKD 1 billion in initial allocation capital on its first day of inclusion; if its holding ratio through the Stock Connect reaches 20% to 25% in the future, the potential incremental capital could exceed HKD 10 billion. Major brokerages like Bank of America have recently released research reports, all rating it as "buy," suggesting that this inclusion will serve as an important catalyst for MiniMax-W's valuation recovery. Notably, on August 3, MiniMax officially opened the model weights for its next-generation general-purpose multimodal generation model, H3. Within 24 hours of opening the weights, it secured initial adaptations and access from over a hundred domestic and international partners. In addition to ecosystem development, MiniMax H3 also achieved excellent performance in international model evaluations. It ranked first globally in both the Artificial Analysis video editing evaluation list and the Arena images-to-video ranking. On the open-source community platform Hugging Face, the popularity of MiniMax H3 rapidly rose to first place.