Movement Alert｜MINIMAX-WP Falls 3.39% in Regular Trading, A-Share IPO Announcement Continues to Trigger Selling Pressure

Market Focus06-02

On June 2, MINIMAX-WP declined 3.39% in regular trading, trading at 673.0 HKD/share with trading volume of HKD 348 million, extending the prior session's sharp 15.71% sell-off.

The decline follows the company's May 31 announcement that it has engaged CITIC Securities as its sponsor and signed a tutoring agreement to formally pursue a listing on Shanghai's STAR Market, aiming to build an A+H dual-listing platform. The filing was publicly disclosed on the CSRC website, confirming the agreement was signed on May 29.

Market concerns center on potential equity dilution from the proposed A-share issuance, given the company listed in Hong Kong only in January at HKD 165 per share. Despite the recent pullback, the stock has still accumulated gains exceeding 300% from its IPO price. The substantial profit accumulated among early investors has intensified selling pressure as holders lock in gains. MiniMax remains loss-making, reporting an adjusted net loss of USD 251 million for 2025 on revenue of USD 79 million, further weighing on sentiment regarding near-term re-financing plans.

(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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