Group 1 - The core viewpoint of the article is that MINIMAX-WP, a Hong Kong-based large model company, has seen its stock price increase by 10% following a report from Tianfeng Securities, which initiated coverage with a "buy" rating [1] Group 2 - The report from Tianfeng Securities was published on January 29, 2026, marking the first coverage of MINIMAX-WP by the firm [1]

Core Viewpoint - AI large model concept stocks have shown strong performance, with MINIMAX-WP rising by 15.22% to 545 HKD and Zhiyuan increasing by 6.1% to 240 HKD [1] Group 1: Company Developments - MiniMax has launched desktop and "expert agents," creating a closed loop between agents and local work environments [1] - The AI Agent sector is experiencing a "toolization" explosion, with the release of Kimi2.5 by Moon's Dark Side, which achieves advanced office automation through agent clusters [1] - The open-source project Clawdbot has gained attention for enabling personal AI assistants to run on local Macs or servers [1] Group 2: Market Trends - Guangfa Securities has noted that as the commercial value of AI-assisted programming tools for enhancing R&D efficiency and optimizing business processes becomes recognized, enterprise users are likely to increase their willingness to pay for software development, data analysis, and business process automation scenarios [1] - Domestic AI large models are expected to benefit from this trend, achieving better commercialization [1]

Group 1 - The core viewpoint of the article highlights the strong performance of AI large model concept stocks, with MINIMAX-WP rising by 15.22% to 545 HKD and Zhiyu (智谱) increasing by 6.1% to 240 HKD [1] - MiniMax has launched desktop and "expert agents," creating a closed loop between agents and local work environments, indicating advancements in AI technology [1] - The AI Agent sector is experiencing a "toolization" explosion, with the release of Kimi 2.5 enabling high-level office automation through agent clusters [1] Group 2 - The open-source project Clawdbot has gained attention for enabling personal AI assistants to run on local Macs or servers, showcasing the growing interest in AI tools [1] - Guangfa Securities has noted that as the commercial value of AI-assisted programming tools becomes recognized, enterprise users are likely to increase their willingness to pay for software development, data analysis, and business process automation [1] - Domestic AI large models are expected to benefit from this trend, achieving better commercialization outcomes [1]

Market Overview - On January 29, AI applications experienced a collective surge, with stocks such as Zhejiang Wenhu Internet, InSai Group, People's Daily Online, and Inertia Media hitting the daily limit [1] Event: ClawdBot's Popularity - The AI assistant ClawdBot has gained significant attention in both overseas and domestic markets, emerging as a notable AI product for the beginning of 2026 [2] - On January 29, the Hong Kong stock of MINIMAX, a major model concept stock, surged over 15% [2] - ClawdBot's development was largely AI-generated, with MiniMax 2.1 being highlighted as the most "Agentic" domestic model, achieving stable local deployment on Mac Studio, showcasing the engineering capabilities of domestic models in complex intelligent applications [2] Institutional Insights - ClawdBot signifies a shift in AI product forms from "scene-level assistants" to "system-level Agent platforms," emphasizing comprehensive execution capabilities across tools, systems, and tasks [3] - The Agent's role is not to replace traditional software but to enhance overall efficiency as an intelligent execution hub, with traditional SaaS and software systems continuing to support foundational business logic and data infrastructure [3] - The Agent industry is evolving from single intelligence to multi-agent systems, with products like AnthropicCowork and MiniMaxAgent 2.0 enhancing local workflows and transforming AI from dialogue assistants to digital employees capable of long-term planning [3]

每经AI快讯，1月29日，港股大模型概念股MINIMAX-WP涨幅扩大至20%，股价一度涨至590港元创上 市来新高。 ...

港股大模型概念股MINIMAX-WP涨幅扩大至20%，创上市来新高，报590港元，上市来累计涨超 250%。 ...

Group 1 - MINIMAX-WP (00100.HK) increased by 14.24%, Zhipu (02513.HK) rose by 6.05%, and Weimob Group (02013.HK) grew by 3.31% [1] - The official release of MiniMaxMusic 2.5 has been announced [1] - Compared to the previous generation model, Music 2.5 has achieved breakthroughs in "paragraph-level strong control" and "physical-level high fidelity" [1]

Group 1 - The core viewpoint of the article highlights the increasing market interest in domestic AI large model concept stocks, with MINIMAX-WP rising by 13.22% to 552.5 HKD and Zhizhu (02513) increasing by 6.32% to 242.4 HKD [1] - The personal AI assistant ClawdBot has sparked significant discussion, with its developer Peter Steinberger claiming that the project is almost entirely AI-generated and asserting that the domestic large model MiniMax2.1 is currently the most "Agentic" model [1] - On January 20, Zhizhu AI released and open-sourced a lightweight large language model GLM-4.7-Flash, while MiniMax launched its AI native workspace Agent2.0, which includes Desktop App and Expert Agents as core components [1] Group 2 - Guangfa Securities believes that as the commercial value of AI-assisted programming tools becomes increasingly recognized, enterprise users are likely to enhance their willingness to pay for software development, data analysis, and business process automation scenarios, benefiting domestic AI large models [1]

每经AI快讯，1月29日，港股大模型概念股盘初拉升，MINIMAX-WP涨超10%，智谱涨超6%。 （文章来源：每日经济新闻） ...

Core Viewpoint - The domestic AI large model concept stocks are gaining market attention, with significant price increases for MINIMAX-WP and Zhizhu [1] Group 1: Stock Performance - MINIMAX-WP (00100) has risen by 13.22%, reaching 552.5 HKD [1] - Zhizhu (02513) has increased by 6.32%, reaching 242.4 HKD [1] Group 2: Product Developments - The personal AI assistant ClawdBot has sparked discussions, developed almost entirely using AI, with MiniMax 2.1 being highlighted as the most "Agentic" large model [1] - On January 20, Zhizhu AI released and open-sourced the lightweight large language model GLM-4.7-Flash [1] - MiniMax's AI native workspace Agent 2.0 was launched on the same day, featuring Desktop App and Expert Agents as core components [1] Group 3: Market Trends - According to Guangfa Securities, the recognition of the commercial value of AI-assisted programming tools is increasing, leading to a higher willingness among enterprise users to pay for software development, data analysis, and business process automation [1] - Domestic AI large models are expected to benefit from this trend and achieve better commercialization [1]