HSI Rises 130 Points; HKEX Gains Over 2%; AI Stocks Surge
US Market Performance: The US stock market experienced mixed results with the DJIA down 0.15% and the Nasdaq up 0.4%, while bargain hunting was noted among investors.
Hong Kong Market Opening: The Hong Kong stock market opened higher, with the HSI up 0.5%, the HSCEI up 0.5%, and the HSTECH up 0.6%, indicating a positive start to the trading session.
Tech Sector Movements: Major tech stocks like TENCENT, KUAISHOU, JD, and BIDU saw increases, while MEITUAN experienced a slight decline, reflecting varied investor sentiment in the sector.
Sector Highlights: In the automotive sector, BYD and NIO saw declines, while companies in the AI sector like KNOWLEDGE ATLAS and MINIMAX-WP experienced significant gains, showcasing diverse performance across different industries.
Trade with 70% Backtested Accuracy
Analyst Views on 00100
About the author
CICC: MINIMAX-WP (00100.HK) Exceeds 2025 Results Expectations; Maintains Outperform Rating
Stock Performance: MINIMAX-WP (00100.HK) saw a significant increase of 9.103%, with a short selling volume of $228.03 million and a ratio of 11.216%.
Financial Results: The company's 2025 results exceeded expectations, reporting a revenue of $79.04 million (up 158.9% YoY) and an adjusted net loss of $251 million, which was lower than market projections.
Broker Ratings: CICC maintained its profit forecasts for 2026 and 2027, keeping the rating at Outperform with a target price of $1,109 for the company.
Related News: Guosen Securities also reaffirmed an Outperform rating for MINIMAX-WP following the recent release of MiniMax 2.5.
MiniMax Achieves Over USD 150M in February ARR; Cuts Inference Computing Costs by 50%
Company Performance: MINIMAX-WP reported a significant increase in its Annual Recurring Revenue (ARR), surpassing USD150 million, with new registered users for its open platform products quadrupling since last year.
Cost Optimization: The company achieved over a 50% reduction in inference computing costs for its M2 series text models due to advancements in algorithm optimization and codec engineering.
Strategic Shift: MINIMAX-WP is transitioning from a large model company to an "AI platform company," emphasizing the importance of R&D efficiency and intelligent capabilities for commercial success.
Market Outlook: Morgan Stanley has raised the target price for MINIMAX-WP to HKD990 and reaffirmed an overweight rating, indicating positive market sentiment towards the company's future prospects.
HSI Declines 74 Points at Midday; PETROCHINA Surges 4%; SHANDONG MOLONG Jumps 59%
Market Performance: The HSI fell 74 points (0.3%) to 25,985, while the HSCEI and HSTECH also experienced declines, with total half-day turnover reaching HKD187.565 billion.
Energy Stocks Movement: KUNLUN ENERGY saw a 3.2% increase, while SINOPEC CORP dipped 1.8%. In contrast, PETROCHINA and CNOOC rallied by 4% and 2.3%, respectively.
Tech Sector Trends: Major tech stocks like TENCENT and BABA-W saw slight gains, while KUAISHOU-W and MEITUAN-W experienced minor declines.
Automotive Sector Decline: BYD COMPANY, XIAOMI-W, and other automotive stocks faced significant losses, with declines ranging from 2.2% to 5.5%.
MINIMAX-WP Rises 19% After Results, Driven by Positive Outlook from Several Brokers
Stock Performance: MINIMAX-WP (00100.HK) opened 9.97% higher after announcing its annual results, peaking at $908 and closing at $895.5, a 19% increase with significant trading volume.
Revenue Growth: The company's revenue for 2025 grew by 158.9% year-over-year to $79.038 million, surpassing market expectations.
Analyst Ratings: Morgan Stanley raised its target price for MINIMAX-WP from $930 to $990, maintaining an Overweight rating, while Goldman Sachs set a target price of $1,018 with a Neutral rating.
Market Position: Goldman Sachs highlighted MINIMAX-WP as well-positioned in China's AI model industry, capitalizing on global growth in various AI fields.
JPM: MINIMAX-WP (00100.HK) Sees Surge in Token Demand Driving Revenue Growth; Maintains Overweight Rating
Company Performance: MINIMAX-WP (00100.HK) reported strong 4Q25 results, with revenue surpassing market expectations and a gross margin increase to 29.7% from 23.3% in 9M25.
Token Demand Growth: The company noted a significant increase in token demand, with daily average consumption of the M2 series text model rising sixfold in February 2026 compared to December 2025, indicating potential for revenue growth.
Analyst Ratings: JPMorgan rated MINIMAX-WP as Overweight, citing its technical strength and commercialization potential in the AI field, with a target price set at $1,000 based on a projected 2030 PE ratio.
Market Activity: The stock experienced a notable increase of 17.874%, with short selling activity reported at $194.47M and a ratio of 13.596%.
G Sachs: MINIMAX-WP (00100.HK) Exceeds Expectations in 4Q25 Results; Target Price Set at HKD1,018, Rating Maintained at Neutral
Earnings Performance: MINIMAX-WP's first earnings report since its listing showed a strong performance with 4Q25 revenue of USD26 million, a 131% YoY increase, surpassing broker projections by 19%. The adjusted net loss was USD65 million, better than the expected loss of USD130 million.
Market Position and Outlook: Goldman Sachs views MiniMax as well-positioned in China's AI model industry, anticipating a rise in global market share from 0.3% to 2.5% between 2026 and 2030, with a target price set at HKD1,018 and a Neutral rating.
CICC: MINIMAX-WP (00100.HK) Exceeds 2025 Results Expectations; Maintains Outperform Rating
Stock Performance: MINIMAX-WP (00100.HK) saw a significant increase of 9.103%, with a short selling volume of $228.03 million and a ratio of 11.216%.
Financial Results: The company's 2025 results exceeded expectations, reporting a revenue of $79.04 million (up 158.9% YoY) and an adjusted net loss of $251 million, which was lower than market projections.
Broker Ratings: CICC maintained its profit forecasts for 2026 and 2027, keeping the rating at Outperform with a target price of $1,109 for the company.
Related News: Guosen Securities also reaffirmed an Outperform rating for MINIMAX-WP following the recent release of MiniMax 2.5.
MiniMax Achieves Over USD 150M in February ARR; Cuts Inference Computing Costs by 50%
Company Performance: MINIMAX-WP reported a significant increase in its Annual Recurring Revenue (ARR), surpassing USD150 million, with new registered users for its open platform products quadrupling since last year.
Cost Optimization: The company achieved over a 50% reduction in inference computing costs for its M2 series text models due to advancements in algorithm optimization and codec engineering.
Strategic Shift: MINIMAX-WP is transitioning from a large model company to an "AI platform company," emphasizing the importance of R&D efficiency and intelligent capabilities for commercial success.
Market Outlook: Morgan Stanley has raised the target price for MINIMAX-WP to HKD990 and reaffirmed an overweight rating, indicating positive market sentiment towards the company's future prospects.
HSI Declines 74 Points at Midday; PETROCHINA Surges 4%; SHANDONG MOLONG Jumps 59%
Market Performance: The HSI fell 74 points (0.3%) to 25,985, while the HSCEI and HSTECH also experienced declines, with total half-day turnover reaching HKD187.565 billion.
Energy Stocks Movement: KUNLUN ENERGY saw a 3.2% increase, while SINOPEC CORP dipped 1.8%. In contrast, PETROCHINA and CNOOC rallied by 4% and 2.3%, respectively.
Tech Sector Trends: Major tech stocks like TENCENT and BABA-W saw slight gains, while KUAISHOU-W and MEITUAN-W experienced minor declines.
Automotive Sector Decline: BYD COMPANY, XIAOMI-W, and other automotive stocks faced significant losses, with declines ranging from 2.2% to 5.5%.
MINIMAX-WP Rises 19% After Results, Driven by Positive Outlook from Several Brokers
Stock Performance: MINIMAX-WP (00100.HK) opened 9.97% higher after announcing its annual results, peaking at $908 and closing at $895.5, a 19% increase with significant trading volume.
Revenue Growth: The company's revenue for 2025 grew by 158.9% year-over-year to $79.038 million, surpassing market expectations.
Analyst Ratings: Morgan Stanley raised its target price for MINIMAX-WP from $930 to $990, maintaining an Overweight rating, while Goldman Sachs set a target price of $1,018 with a Neutral rating.
Market Position: Goldman Sachs highlighted MINIMAX-WP as well-positioned in China's AI model industry, capitalizing on global growth in various AI fields.
JPM: MINIMAX-WP (00100.HK) Sees Surge in Token Demand Driving Revenue Growth; Maintains Overweight Rating
Company Performance: MINIMAX-WP (00100.HK) reported strong 4Q25 results, with revenue surpassing market expectations and a gross margin increase to 29.7% from 23.3% in 9M25.
Token Demand Growth: The company noted a significant increase in token demand, with daily average consumption of the M2 series text model rising sixfold in February 2026 compared to December 2025, indicating potential for revenue growth.
Analyst Ratings: JPMorgan rated MINIMAX-WP as Overweight, citing its technical strength and commercialization potential in the AI field, with a target price set at $1,000 based on a projected 2030 PE ratio.
Market Activity: The stock experienced a notable increase of 17.874%, with short selling activity reported at $194.47M and a ratio of 13.596%.
G Sachs: MINIMAX-WP (00100.HK) Exceeds Expectations in 4Q25 Results; Target Price Set at HKD1,018, Rating Maintained at Neutral
Earnings Performance: MINIMAX-WP's first earnings report since its listing showed a strong performance with 4Q25 revenue of USD26 million, a 131% YoY increase, surpassing broker projections by 19%. The adjusted net loss was USD65 million, better than the expected loss of USD130 million.
Market Position and Outlook: Goldman Sachs views MiniMax as well-positioned in China's AI model industry, anticipating a rise in global market share from 0.3% to 2.5% between 2026 and 2030, with a target price set at HKD1,018 and a Neutral rating.
