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MiniMax's share price surged, with its first report card since going public showing impressive resul
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joined discussion · Mar 9 19:50

[IPO Tracker] 'Raising Lobsters' goes viral! MiniMax (00100.HK) share price once broke the thousand-dollar mark

On March 9, the domestic AI leader$MINIMAX-W (00100.HK)$ The stock price surged significantly, reaching a high of 1,000 Hong Kong dollars during trading, setting a new record since its listing. At the close, the stock was up 23.77%, at 997 Hong Kong dollars per share. Looking at a longer time frame, as a newly listed stock for only two months, this stock has performed exceptionally well. Currently, compared to its issue price of 165 Hong Kong dollars, the cumulative increase has reached five times. In terms of news, on March 9, domestic AI leader MiniMax also announced the launch of two new 'lobster' capabilities: the Voice Maker voice model and the Music Maker music model. Based on the deep encapsulation of MiniMax Speech technology and the Music model, users can use the OpenClaw platform to allow AI to have customized voice tones, multilingual dubbing abilities, and even create complete songs and vocal hum demo tracks. This capability is now available on ClawHub and supports use across IM platforms like Feishu, WeCom, and DingTalk. Analysts noted that MiniMax's business scope continues to expand, potentially providing new room for valuation imagination. Morgan Stanley stated in its latest research report thatStimulated by the 'Lobster Effect' (OpenClaw ecosystem), the commercial momentum of Chinese AI unicorn MiniMax has far exceeded expectations- Annual Recurring Revenue (ARR) took only two months to grow from 100 million...
On March 9, the leading domestic AI company$MINIMAX-W (00100.HK)$ saw a significant rise in its share price, reaching an intra-day high of 1,000 Hong Kong dollars, setting a new record since its listing. By the market close, the stock had risen by 23.77%, trading at 997 Hong Kong dollars per share.
On March 9, the domestic AI leader$MINIMAX-W (00100.HK)$ The stock price surged significantly, reaching a high of 1,000 Hong Kong dollars during trading, setting a new record since its listing. At the close, the stock was up 23.77%, at 997 Hong Kong dollars per share. Looking at a longer time frame, as a newly listed stock for only two months, this stock has performed exceptionally well. Currently, compared to its issue price of 165 Hong Kong dollars, the cumulative increase has reached five times. In terms of news, on March 9, domestic AI leader MiniMax also announced the launch of two new 'lobster' capabilities: the Voice Maker voice model and the Music Maker music model. Based on the deep encapsulation of MiniMax Speech technology and the Music model, users can use the OpenClaw platform to allow AI to have customized voice tones, multilingual dubbing abilities, and even create complete songs and vocal hum demo tracks. This capability is now available on ClawHub and supports use across IM platforms like Feishu, WeCom, and DingTalk. Analysts noted that MiniMax's business scope continues to expand, potentially providing new room for valuation imagination. Morgan Stanley stated in its latest research report thatStimulated by the 'Lobster Effect' (OpenClaw ecosystem), the commercial momentum of Chinese AI unicorn MiniMax has far exceeded expectations- Annual Recurring Revenue (ARR) took only two months to grow from 100 million...
Over a longer period, as a newly listed stock for only two months, this stock has shown exceptional performance. Currently, compared to its issue price of 165 Hong Kong dollars, the cumulative increase has reached five times.
In terms of news, on March 9, MiniMax, the leading domestic AI firm, announced the launch of two new 'Lobster' capabilities: the all-new Voice Maker voice model and the Music Maker music model. Built on the deep integration of MiniMax Speech voice technology and the Music model, users can leverage the OpenClaw platform to enable AI with customized voice tones, multilingual dubbing abilities, and even the capability to compose entire songs and vocal hum demos. These skills are now available on ClawHub and can be used across IM platforms like Feishu, WeChat Work, and DingTalk.
Analysts pointed out that MiniMax's continuous expansion of business boundaries may provide new valuation potential.
Morgan Stanley noted in its latest research report thatstimulated by the 'Lobster Effect' (OpenClaw ecosystem), the commercial momentum of Chinese AI unicorn MiniMax far exceeded expectations—annual recurring revenue (ARR) soared from 100 million US dollars to 150 million US dollars in just two months, an increase of over 50%. The token usage of the M2 model surged sixfold in February 2026 compared to December 2025, with the cost per token for inference decreasing by more than 50% year-on-year. The upcoming M3 model aims to achieve top-tier global capabilities, with higher expected gross margins.
Recently, OpenClaw has gained massive popularity, emerging as a rising star in the AI field. OpenClaw is an open-source AI agent, acting as a personal assistant capable of performing tasks on behalf of users. Its training process is referred to as 'raising lobsters.'
At the beginning of March, the 'lobster-raising' trend swept across China, becoming a hot topic of discussion. Local governments have launched their 'lobster' battles, with Shenzhen's Longgang and Wuxi's High-Tech Zone successively announcing subsidy policies, offering maximum single subsidies of 2 million yuan and 5 million yuan, respectively.
On the corporate front, major tech giants have quickly joined the race. On March 6, Xiaomi's mobile Agent, Xiaomi Miclaw, entered a small-scale closed beta test. Recently, Tencent held free installation tutorials, attracting nearly a thousand people to queue up. Currently, Tencent’s version of 'Crayfish,' WorkBuddy, has officially launched.
BOCI Research noted that the rising popularity of OpenClaw indicates that users in the AI era require intelligent agents capable of performing complex tasks. OpenClaw is expected to lead AI into the true Agent era.
Author: Pingzi
Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty.Read more
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