On July 8, MINIMAX-WP declined 3.21% in regular trading, trading at 323.6 HKD/share, with turnover of 27.97 million HKD.

On the news front, the company faces its first major post-IPO lock-up expiry on July 9, involving approximately 146 million shares representing 63% of total share capital. With the current free float at only around 5%, the potential circulating supply will expand dramatically to approximately 50%. Although strategic shareholders Alibaba and miHoYo have explicitly committed to holding long-term, and the founding team has imposed a 12-month voluntary lock-up period, the high proportion of financial investors among the unlocking shareholders has been viewed as a key overhang.

The stock has already retreated over 75% from its March peak of 1,330 HKD. Bank of America Securities maintains a Buy rating with a 500 HKD target price, noting potential inclusion in Stock Connect by August could provide liquidity support. Management has expressed confidence in reaching at least 1 billion USD ARR by year-end, with April ARR already at 400 million USD.

(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.)