MiniMax surged 17.10% on its first day of inclusion in Stock Connect; Creality 3D swung to a net loss in H1 2026 year-over-year | HKEX Morning Briefing

| Friday, August 7, 2026 |

NO.1 MiniMax rose 17.10% on its first day of inclusion in Stock Connect

On August 6, Chinese large-model company MiniMax (HK00100) was officially added to the Stock Connect eligible securities list, granting mainland investors access to trade its shares via Stock Connect. During trading on August 6, MiniMax’s share price surged by more than 20% intraday. At market close, the stock settled at HK$297.20 per share, up 17.10%, with a total market capitalization of HK$103.8 billion.

Commentary:MiniMax's official inclusion in Stock Connect has opened the channel for southbound capital from mainland China, prompting a significant positive market reaction and improved liquidity. The domestic large-model industry remains highly competitive, where technological iteration and successful commercialization are the core foundations supporting long-term valuation.

NO.2 TOM Group expects interim attributable profit after tax to decline by approximately 85% to 90% year-over-year

On August 6, TOM Group (HK00258) announced that it expects the group’s attributable profit after tax for the six months ended June 30, 2026, to decline sharply by approximately 85% to 90% compared to HK$782 million reported for the same period in 2025.

Commentary:In the corresponding period last year, the group recognized substantial sales revenue following the delivery of approximately 90% of the sold units from Phase I of its residential development project, Tomson Junpin, located in Shanghai. In 2026, apart from recognizing the remaining sales revenue from Phase I of Tomson Junpin during the review period, the group will only be able to recognize additional sales revenue upon delivery of Phase II of the project in the second half of 2026.

NO.3 Creality turned from profit to loss in the first half of the year

On August 6, Creality (HK03388) announced that for the first half of 2026, the group is expected to record a loss attributable to owners of the company of approximately RMB 53 million to RMB 63 million, compared to a profit attributable to owners of the company of approximately RMB 107 million in the same period last year.

Commentary:According to the announcement, the loss was primarily driven by a combination of factors, including pricing strategies for overseas market expansion, inventory clearance dragging down gross margins, increased marketing and R&D expenditures, and foreign exchange losses.

NO.4 BioInnovate expects its net profit attributable to shareholders for the first half of the year to increase by 391.87% to 412.71% year-over-year

On August 6, BioInnovate (HKEX: 02315; SSE: 688796) announced that for the first half of 2026, the group expects revenue of RMB 936 million to RMB 946 million, representing a year-over-year increase of 50.80% to 52.41%; net profit attributable to owners of the parent is expected to be RMB 236 million to RMB 246 million, up 391.87% to 412.71% year-over-year.

Commentary:BioInnovate, a platform company focused on antibody drug development, reported significantly higher earnings in the first half of the year, highlighting the success of its commercialization efforts. Continued pipeline output and order stability will be key to sustaining this high growth going forward.

NO.5 Hong Kong market update:

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