MINIMAX-WP (00100) surged close to 10% during the morning trading session. As of the time of writing, the stock was up 9.26%, reaching HK$57.2, with a trading turnover of HK$285 million. On the news front, MiniMax officially launched its MiniMax Music 2.5 large audio model on January 29th. Compared to the previous generation, this model has achieved breakthroughs in two major technical challenges: "paragraph-level strong control" and "physical-level high fidelity." It is reported that the new version enables more precise control over musical structure and significantly enhances the audio quality of generated content, representing an important industry trend. CSC Financial previously noted that amid the global wave of generative AI, MINIMAX, with its "counter-consensus" strategic focus on advancing model intelligence, is distinguishing itself from industry competition. As one of the first companies in Shanghai to obtain large model filing approval, the firm demonstrates robust growth potential through its technological depth and commercial foresight. The institution forecasts that the company's revenue will maintain a high growth rate of over 90% from 2025 to 2027, with Non-GAAP gross margin expected to rise to 55% and the net loss ratio continuing to narrow. With optimized inference costs and the deployment of a new generation of multimodal models, the company is poised to capture a larger market share in the AI-native application space.
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