MiniMax Hong Kong shares fall below IPO price, closing at HK$160.7

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2026-10-22 19:02:30 Source: Caixin.com Author: Yang Zirui Responsible Editor: Guan Cong

By Caixin's Yang Zirui

October 22, 2026 19:02

MiniMax has not released a model with a high level of intelligence for a long time, and the global technology sector has also been undergoing a sharp correction recently

On October 22, MiniMax's intraday share price fell as low as HK$158.1 per share, down 8.03%; it finally closed at HK$160.7 per share, down 6.52%, corresponding to a market value of HK$56.64 billion. Image: Visual China

Related reports: MiniMax releases a new text model after more than four months of silence, slashing prices to compete for the value-for-money market; Global tech stocks continue to fall, what is the logic behind the market adjustment?; Changxin Technology plunges 7.79%, global tech stocks adjust in sync; MiniMax's first-half revenue of US$117 million exceeds all of 2025, August ARR reaches US$800 million; MiniMax included in Stock Connect today, intraday gain peaks at 22.77%

[Caixin.com] On October 22, MiniMax (00100.HK) share price fell below its IPO price of HK$165 per share. On that day, MiniMax's intraday share price fell as low as HK$158.1 per share, down 8.03%; it finally closed at HK$160.7 per share, down 6.52%, corresponding to a market value of HK$56.64 billion.

MiniMax listed on the Hong Kong Stock Exchange on January 9, with net IPO proceeds of HK$4.596 billion. After listing, MiniMax was more favored by investors because its overseas revenue exceeded that of another listed large-model company, Zhipu (2513.HK). Its share price once reached a high of HK$1,330 per share on March 18. MiniMax's current share price has retraced more than 88% from that high.

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