Stock price surges by 20%! Hong Kong's AI leader welcomes valuation reevaluation as MiniMax (00100) index is expected to continue to strengthen.

Hang Seng Index Company will announce the quarterly review results after the market closes today. With its strong technical strength and strong market value performance, AI track star company MiniMax (00100) has become the most focused core target in the market. The market expects it to be included in the Hang Seng Technology Index and Composite Index with a high probability, opening a new cycle of capital and development. As a leading AI benchmark in China, MiniMax has recently shown rapid development momentum, frequent product iterations, and continued highlighting of core advantages. On the technical side, the flagship model M2.5 launched in February this year has made breakthrough progress, achieving industry-leading levels in high-value economic tasks such as programming, intelligent body tool calling, and office scenarios, with an SWE-Bench Verified score of 80.2%. It has also achieved a 37% increase in completing complex tasks compared to the previous generation, comparable to the international top model Claude Opus 4.6. On the cost side, it has disruptive competitiveness, with M2.5 running at a rate of 100 tokens/second costing only $1 per hour, dropping to as low as $0.3 per hour at a rate of 50 tokens/second, which is 1/10 to 1/20 of models at the same level, truly achieving low-cost large-scale deployment. In March, MiniMax officially released M2.7, focusing on optimizing core scenarios for AI agents, achieving breakthrough improvements in executing complex tasks, multi-skill coordination, and long text understanding, approaching the level of top international models in authoritative evaluations while also having significant cost advantages, laying the foundation for large-scale commercialization. In May, the company upgraded its AI Agent product to Mavis, introducing the "Agent Teams" intelligent agent collaboration mode to solve the single agent's ability ceiling issue, significantly enhancing landing capabilities; at the same time, it launched the "10x Team" plan, laying out in five major vertical fields such as industrial software, chip design, and finance, deepening alignment with the national development direction of new productive forces. In terms of market value, MiniMax's recent stock price and market value have risen sharply. As of noon on May 22, the total market value reached HK$238.206 billion, with the stock price surging over 20% intraday, becoming a strong candidate for inclusion in the Hang Seng Technology Index. If successfully included, although MiniMax will not be eligible for Hong Kong Stock Connect trading until August due to its weighted voting rights, its long-term capital attraction is extremely strong. Bloomberg industry research predicts that MiniMax is expected to attract up to 47 billion yuan of southbound funds; Morgan Stanley estimates that it and KNOWLEDGE ATLAS jointly will contribute 5%-7% weight to the Hang Seng Technology Index, driving passive fund inflows of 1.25 billion to 1.75 billion US dollars. Within 6 months after the inclusion in the Hong Kong Stock Connect, the mainland ownership ratio may rise to 9%-20% of freely tradable shares. Market analysts generally view MiniMax's future performance favorably. Bloomberg industry research analyst Jason Liao pointed out that there is a shortage of pure AI model targets in the A-share market, and there is a strong demand for high-quality AI assets from southbound funds. MiniMax, as a leader in both technology and commercialization, will continue to benefit from the support of southbound funds. With the results of the Hang Seng Index quarterly review landing, MiniMax is expected to further consolidate its industry position and usher in a double dividend period of capital and industrial development.