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AI Firm MiniMax Prepares for Mainland China Listing After Shares Surge ... MiniMax, an AI technology company, is gearing up for a significant listing in mainland China following a remarkable surge in its shares on the Hong Kong stock exchange. This move is poised to enhance its market presence and capitalize on the growing demand for AI solutions in the region. MiniMax, a prominent player in the artificial intelligence sector, is making headlines as it prepares for a potential listing on the mainland Chinese stock market. This development comes on the heels of a substantial surge in its share prices on the Hong Kong stock exchange, where the company has seen its valuation soar amidst increasing investor interest in tech stocks. In recent weeks, MiniMax's shares have experienced a remarkable uptick, reflecting a broader trend of investor enthusiasm for technology firms in Hong Kong. The company's innovative AI solutions, which span various sectors including healthcare, finance, and logistics, have drawn significant attention from both institutional and retail investors. Analysts attribute this surge to the growing recognition of AI's transformative potential in enhancing operatio…

Mainland money pivots towards AI shares — Arabian Post Mainland Chinese investors have turned net sellers of Hong Kong-listed equities through Stock Connect, marking a rare reversal in cross-border flows as enthusiasm for onshore artificial intelligence shares draws capital back towards Shanghai and Shenzhen. The shift reflects a sharp change in investor preference after months of underperformance by Hong Kong equities against mainland peers. Mainland investors sold about HK$3.6 billion of Hong Kong shares through the trading links last month, the first monthly net outflow since June 2023 and one of only a small number of monthly selling episodes since the southbound channel became a key route for mainland money into the city’s market. The move is striking because southbound buying has been one of the strongest supports for Hong Kong stocks over the past year. Mainland funds poured into high-dividend banks, telecoms groups, energy companies and internet platforms during earlier phases of the rally, helping offset caution among global investors. That support is now weakening as domestic funds chase companies tied to AI infrastructure, chips, optical modules, software and computing …

First Price Hike in the Year of the Horse: AI Stocks Go Wild - 36氪 The wealth - creating effect of AI is truly astonishing. Author: Wang Manhua Editor: Wang Qingwu Source: China Venture Capital The AI craze in the Hong Kong stock market has continued from before the Spring Festival to after it. In this frenzy, MiniMax and Zhipu are undoubtedly the most prominent stars. On February 20th, the Hong Kong stock market in the Year of the Horse welcomed its first trading day. The stock prices of the "twin stars" of domestic large - scale AI models both soared. At the close, Zhipu soared 42.72%, closing at HK$725 per share; MiniMax also rose more than 14%, closing at HK$970 per share. The combined market value of the two companies exceeded the HK$300 billion mark. What does HK$300 billion mean? For comparison, JD.com's current market value is about HK$294.584 billion. This means that the market value of these two AI companies, which have been established for less than a decade, has quietly exceeded that of an established Internet giant that has been in business for more than two decades. The wealth - creating effect of AI is truly astonishing. The stock price miracles of MiniMax a…

MiniMax once led Zhipu in Hong Kong’s AI stock race. How the tables have turned When Chinese artificial intelligence developers Zhipu AI and MiniMax made their debuts on the Hong Kong stock exchange in January, investors initially saw one as a better bet than the other. Beijing-based Zhipu closed its first trading day on January 8 with a market capitalisation of HK$57.9 billion (US$7.4 billion). A day later, Shanghai-based MiniMax listed at HK$106.7 billion, almost twice as large. Five months on, however, Zhipu – traded as Knowledge Atlas Technology – has surged ahead. At...

China Daily | MiniMax prepares for A-share launch Chinese artificial intelligence company MiniMax has begun preparations for an initial public offering on the Chinese mainland just months after its Hong Kong debut, setting the stage for a potential A-share rivalry with fellow large language model developer Zhipu AI. The parallel IPO drives by MiniMax and Zhipu underscore how China's AI sector is entering a new phase, with leading model developers seeking not only technological leadership, but also long-term access to public market financing to help cover the costs of increasingly expensive competition in computing power, model training and global expansion. China's securities regulator said on Saturday that MiniMax signed a listing guidance agreement on Friday, formally launching the process toward an A-share IPO. Asked about when MiniMax could become profitable, its founder and CEO Yan Junjie told China Daily at a State Council Information Office briefing on Thursday that the industry's immediate priority remained accelerating development rather than focusing solely on profitability. "The core issue for the large language model sector is still how to accelerate development. C…

AI Firm MiniMax Eyes Mainland China Listing Amid Share Price Surge AI firm MiniMax is preparing for a mainland China listing following a significant surge in its Hong Kong share price, signaling increasing investor confidence in the domestic AI sector. Market Momentum and Listing Plans The Shanghai Composite Index saw substantial movement as speculation intensified regarding MiniMax's potential move to a primary exchange within Mainland China. The company has been closely watched by investors due to its rapid ascent in the competitive large language model space. Recent trading activity in Hong Kong demonstrated robust market appetite for MiniMax, with share prices climbing sharply over recent reporting periods. This upward trajectory positions the firm favorably as it navigates regulatory and structural hurdles associated with a mainland listing. Sources indicate that management is actively engaged in discussions concerning the optimal timeline and venue for the primary offering. A move to Mainland China would provide MiniMax with deeper access to domestic capital pools, potentially accelerating its expansion initiatives within the vast Chinese technology ecosystem. The company's …

After $34 Billion Year, Hong Kong IPOs Continue Pace With Tech ... trade-ideas After $34 Billion Year, Hong Kong IPOs Continue Pace With Tech Listings There’s a flurry of IPO activity taking place in Hong Kong, with China regulators approving tech listings at a rapid rate. Alex Frew McMillan · Jan 8, 2026, 3:15 PM EST You've reached your free article limit You've read 0 of 1 free Pro articles. Register free to read more Pro articles Unlock unlimited Pro access — 70% off Today. Offer Ends soon Already registered or a Pro member? Log in Hong Kong is set to continue its rapid pace of stock listings thanks to a series of market debuts by Chinese technology companies. The "Google of China," Baidu, is looking to raise as much as $2 billion with a Hong Kong listing for its AI chip subsidiary. Thursday alone sees three such listings, with initial public offerings (IPOs) for: Knowledge Atlas Technology (HK:2513), an OpenAI-style company that develops artificial intelligence (AI) models and calls itself Z.ai in brief. Iluvatar CoreX (HK:9903), which develops chips and graphics processing units to power AI training and inference. Shenzhen Edge Medical (HK:2675), which makes surgical robots. …

AI firm MiniMax prepares for mainland China listing after Hong Kong ... Share: ✓ Copied! MiniMax AI logo displayed against a China stock market background. ⚡ Key Points MiniMax plans mainland China listing following a Hong Kong share surge. The firm is one of China's four leading 'AI Tiger' unicorns. The move aims to secure capital for high LLM development costs. Geopolitical pressure is driving Chinese AI firms toward domestic markets. Alibaba and Tencent remain major strategic backers of MiniMax. In a move that underscores the profound restructuring of the Chinese technology sector, MiniMax, one of China's most promising artificial intelligence startups, is laying the groundwork for a listing on mainland Chinese stock exchanges. The news, coming on the heels of a significant rally in AI-related shares in Hong Kong, signals a new phase of maturity for domestic "unicorns" seeking capital to fuel the increasingly expensive war of Large Language Models (LLMs). The Strategic Pivot Inward MiniMax’s decision to explore a mainland listing—likely targeting Shanghai’s STAR Market or Shenzhen’s ChiNext—is not merely a financial choice; it is a strategic necessity. At a time when the United…

Momenta $1B Hong Kong IPO: Physical AI's First Public Play China's dominant urban autonomous driving supplier Momenta is set to launch a Hong Kong IPO by end of June 2026, targeting up to US$1 billion in proceeds at a valuation of approximately US$9 billion (RMB 65 billion)—a listing timed deliberately ahead of Tesla Inc.'s full-scale FSD rollout in the mainland and positioned around a thesis that extends well beyond self-driving cars. The China Securities Regulatory Commission issued Momenta its overseas listing filing notice on June 18, 2026, clearing the final regulatory hurdle for a share sale of up to 43.754 million ordinary shares on the Hong Kong Stock Exchange. According to sources familiar with the transaction, the company has already passed the HKEX listing hearing and is targeting a roadshow launch around June 30. China International Capital Corporation (CICC) and Deutsche Bank AG are serving as joint sponsors. The offering would make Momenta the latest—and potentially highest-valued—autonomous driving company to list in Hong Kong, following Pony.ai and WeRide. A person with knowledge of the deal told Tencent Finance that cornerstone investor negotiations are at an adva…

Zhipu AI Shares Surge Over 42% in Hong Kong, Market Cap Tops HKD 323 ... The Hong Kong stock market kicked off its first trading day of the Lunar Year of the Horse with a generally subdued performance, yet the AI large model sector stood out with remarkable energy. Leading players Zhipu and MINIMAX both recorded substantial stock gains, capturing significant market attention. Zhipu, a key player in the large model space, surged impressively during the session, closing 42.72% higher at 725 HKD. This pushed its total market capitalization above 323.2 billion HKD. Notably, another major large model firm, MINIMAX, also delivered a strong performance the same day. Its share price climbed 12% to 957 HKD, lifting its market cap past the 300 billion HKD mark and making it another standout in the Hong Kong market alongside Zhipu. Zhipu’s impressive rally was well-supported. On February 12, the company introduced its next-generation flagship model, GLM-5, which increased parameter scale from 355B to 744B, boosted programming performance by more than 20% compared to its predecessor, and delivered top results across three Agent evaluations in the open-source domain. In addition, Zhipu rai…

Chinese AI Firm MiniMax Prepares for Mainland China Listing After ... Chinese artificial intelligence model company MiniMax Group has officially kicked off plans to sell shares in mainland China. The move offers onshore investors access to AI players beyond chipmakers and completes a dual-listing status in addition to Hong Kong. Credit: MINIMAX The Shanghai-headquartered company signed an agreement with Citic Securities to help prepare for a sale of yuan-denominated shares. While other details on the listing are scant, it is widely expected that MiniMax will trade on the Star Market. The board is a technology-heavy board dominated by China's leading AI chipmakers under the Shanghai Stock Exchange. MiniMax is the latest AI firm to tap funding on China's onshore stock markets as global investors ramp up their bets on tech companies. This follows hyperscalers' investments in AI infrastructure gaining further momentum and the easing of Middle East tensions boosting the appeal of risk assets. ChangXin Memory Technologies had its first-time stock sale approved by the Shanghai exchange, while the bourse is set to review the initial public offering application by Unitree Robotics. Global …

AI firm MiniMax prepares for mainland China listing after shares surge in Hong Kong MiniMax Group, the Chinese artificial intelligence model company, has officially kicked off plans to sell shares in mainland China. This offers onshore investors access to AI players beyond chipmakers and completes a dual-listing status in addition to Hong Kong. The Shanghai-headquartered company signed an agreement with Citic Securities on Friday, hiring the brokerage to help prepare for a sale of yuan-denominated shares. While other details on the listing are scant, it is widely expected that...

Zhipu AI, MiniMax shares to provide gut check for Hong Kong investors as lock-ups end Hong Kong’s stock market could face sell-off pressure amid a torrent of new share supply in coming days as the six-month lock-up period ends for hot artificial intelligence and semiconductor picks including Zhipu AI and MiniMax. Meanwhile analysts warned of rising fears of a drain on liquidity as many of the same companies were eyeing large secondary share placements. The market was facing dual selling pressure, said Stevan Tam, associate director at Fulbright Financial. “These stocks have...