On September 2, MINIMAX-W rose 3.44% in regular trading to HK$348.4, with turnover of HK$2.032 billion, extending its recent rally following a 16%-plus surge on August 31.

The movement is driven by the continued fermentation of two key catalysts. First, MiniMax announced that H3 Max 768P and 480P have been integrated into its open platform, capable of generating a 5-second 768p video in under 3 seconds with throughput approximately 35 times that of the standard H3 endpoint, claiming the top position on both the Design Arena and Artificial Analysis video generation leaderboards. Second, the company's H1 results showed total revenue surging 283.1% year-over-year to approximately $120 million, with B-end revenue soaring 703.1%. August ARR exceeded $800 million, far surpassing Jefferies' prior estimate of $580 million.

Multiple institutions have raised target prices in response. Citi lifted its target to HK$576, Jefferies to HK$533, and CMBI to HK$580, all maintaining buy ratings. Analysts noted that if model iterations such as M3 Pro launch within Q3, they could further accelerate ARR growth.

(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.)