Movement Alert｜MINIMAX-WP Falls 3.33% in Regular Trading, July Lock-Up Expiry Pressure Compounds Sector-Wide Pullback

Market Focus06-23

On June 23, MINIMAX-WP declined 3.33% in regular trading, trading at 593.0 HKD/share, with turnover of approximately HKD 300 million.

On the news front, MiniMax faces a major lock-up expiry on July 9, with unlocking shares accounting for approximately 46% to 63% of its Hong Kong-listed equity. The company's actual free float currently stands at only around 5%, meaning post-unlock supply could surge nearly tenfold. With early-stage investors sitting on substantial unrealized gains, the market continues to price in significant selling pressure ahead of the expiry date.

Adding to the headwinds, the broader AI software sector traded lower, with peers including Knowledge Atlas down 5.23%, Haizhi Tech down 3.75%, and Deepexi Tech down 2.25%. Analysts note that a market-wide pair trade of going long competitors while shorting MiniMax has emerged, reflecting concerns over its commercial monetization path uncertainty relative to peers with clearer pricing power and profitability visibility.

(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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