MINIMAX-W (00100) soared 13.88% intraday, reversing earlier losses after Goldman Sachs released a bullish research report.
Goldman Sachs reiterated a "Buy" rating on the stock with a target price of HK$860, emphasizing the company's multimodal strategy as a key competitive advantage. The firm noted that the H3 model is in its final pre-launch stage and is expected to significantly impact the industry. Additionally, Goldman Sachs expects MINIMAX-W to be included in the Southbound Stock Connect in August, which could provide a further catalyst.
The report also highlighted management's focus on cost-effectiveness, with the current M3 model processing trillions of tokens daily and achieving healthy gross margins. The upcoming launches of the M3 Pro and H3 multimodal products are seen as positive drivers for annual recurring revenue growth and a potential valuation recovery in the second half of the year.