On August 24, MINIMAX-W declined 4.84% in regular trading, trading at 334.0 HKD/share, with turnover of HKD 225 million.

On the news front, the company is scheduled to release its interim results on August 26, and market participants remain divided on the sustainability of its ARR growth, prompting some investors to reduce positions ahead of the earnings window. Additionally, the stock surged nearly 12% on August 21 following the launch of its multimodal creation Agent platform MiniMax Design, creating significant short-term profit-taking pressure.

Short-selling data has risen to a phase high, intensifying the tug-of-war between bears and bullish institutions during the pre-earnings period. JPMorgan previously cut its target price from HKD 240 to HKD 160, reflecting notable valuation divergence among institutions, while Goldman Sachs maintains a 12-month target of HKD 800, citing API business growth and H3 multimodal momentum as upside catalysts.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)