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Zhipu Market Cap Holds 906 Billion HKD While MiniMax Tumbles to 93.3 Billion on Share Unlock July 8-9

GateNews
Stocks
ZHIPU AI-19.29%
According to CNYes, Hong Kong AI stocks experienced extreme divergence on July 8-9 following the first share unlocks for Zhipu (02513-HK) and MiniMax (00100-HK). Zhipu's market cap surged to 906 billion HKD after rising 13.35% on July 8 and gaining further strength on July 9 when it announced a share placement raising approximately 31.4 billion HKD, closing at 2,032 HKD. In contrast, MiniMax's market cap plummeted to 93.3 billion HKD—roughly one-tenth of Zhipu's valuation—after a 17.98% drop on July 9. The divergence stemmed from vastly different unlock scales: Zhipu released 25.68 million shares (5.76% of total shares), while MiniMax unlocked 153 million shares (48.9% of total shares, worth approximately 55 billion HKD), creating significant selling pressure.
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