Movement Alert｜MINIMAX-WP Falls 4.85% in Regular Trading, July Lockup Expiry Pressure Continues to Weigh on Shares Amid AI Sector Pullback

Market Focus06-24

On June 24, MINIMAX-WP declined 4.85% in regular trading, trading at 487.2 HKD/share, with turnover of HKD 168 million.

On the news front, the company will face its first major post-IPO lockup expiry on July 9, with unlocked shares representing approximately 46% to 63% of total Hong Kong-listed share capital. Given that the current actual free float is only around 5%, the post-unlock supply could surge nearly tenfold, fueling persistent market concerns over selling pressure from early investors sitting on substantial unrealized gains.

Additionally, the broader AI concept sector has seen notable correction in recent sessions, with industry-wide linkage effects amplifying downward pressure on the stock. Notably, the stock had experienced extreme volatility in the prior session, surging over 23% before reversing sharply. Strategic shareholders Alibaba and miHoYo have stated their long-term confidence in the company, while the founding team has set a 12-month voluntary lock-up period, meaning the initial unlock does not involve founder or employee shares.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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