More than 80% of MINIMAX-W's pre-IPO shareholders and cornerstone investors said they will continue to hold their shares after the lock-up period expired Wednesday. The group includes Aspex, Boyu, IDG, Janchor, Martis Fund, China Life Investment, Xuhui Capital, Alibaba and miHoYo.
More than 80% of MINIMAX-W's pre-IPO shareholders and cornerstone investors said they will continue to hold their shares after the lock-up period expired Wednesday, showing long-term conviction in the Hong Kong-listed AI company.
The group includes cornerstone investors Aspex, Boyu, IDG, Janchor and Martis Fund, state-owned institutions China Life Investment and Xuhui Capital, and early shareholders Alibaba Group Holding Ltd. and miHoYo, according to a company statement.
MINIMAX-W (00100.HK) fell 0.8% on Wednesday, with short selling of $216.6 million representing 18.3% of total turnover. Alibaba, an early investor in the company, rose 2.4% in the same session, with short selling of $5.4 billion.
The lock-up expiry removed a potential overhang that had weighed on the stock since its listing. With more than 80% of early investors choosing to retain their positions, the risk of a wave of secondary selling has been reduced, supporting the case for MINIMAX-W's current valuation.
The decision by blue-chip cornerstone investors and state-backed institutions to hold suggests confidence in MINIMAX-W's business model and growth trajectory. The company competes in Hong Kong's expanding AI sector, where investor interest has grown as the city positions itself as a regional technology hub. Investors will watch the company's next earnings release for signs of operating momentum and updated guidance.
This article is for informational purposes only and does not constitute investment advice.
