Jin Rong Jie·2026-02-16 03:14Core Viewpoint - MiniMax's stock price surged over 14%, reaching a new high of 778 HKD, reflecting strong market interest and investor confidence in the company's growth potential [1]. Group 1: Stock Performance - As of the latest update, MiniMax's stock price increased by 13.97%, currently trading at 775 HKD, with a trading volume of 1.032 billion HKD and a total market capitalization of 243.07 billion HKD [1]. Group 2: Product Launch - On February 12, MiniMax launched its latest flagship programming model, MiniMax M2.5, which is the world's first production-grade model designed natively for agent scenarios, supporting full-stack programming development across PC, App, and cross-platform applications [3]. Group 3: Analyst Coverage - Cathay Securities initiated coverage on MiniMax with a "Buy" rating and a target price of 620 HKD, highlighting the company's leading performance in self-developed multimodal large models, high overseas revenue proportion, and strong cash reserves [3]. - The firm projects MiniMax's revenue to reach 220 million USD by 2026, assigning a valuation of 113x PS, indicating the company's growth potential as a rare global AI player in the Hong Kong stock market [3].