Few IPOs in recent memory have made an entrance like MiniMax. The Shanghai-based AI company priced its Hong Kong listing at HK$165 — and closed its first day up 109% at HK$345, with retail investors oversubscribing the offer by more than 1,800 times.
Six months later, MiniMax stock (HKEX: 0100) has cooled from its debut euphoria — and that’s exactly why traders are watching it. Here’s the bullish case, and how to trade MiniMax price action 24/7 with stock perps on BTSE.
MiniMax Stock at a Glance
- Ticker: 0100 (Hong Kong Stock Exchange)
- IPO: January 2026 at HK$165/share, raising roughly US$620 million (Bloomberg)
- Debut: Closed +109% at HK$345, valuing the company above HK$100 billion
- Backers: Alibaba and Tencent, among others
- Products: MiniMax Agent, Hailuo AI (video generation), Talkie, and an enterprise-facing open platform
Why Traders Are Bullish on MiniMax Stock
1. It’s a Pure-Play Bet on China’s AI Boom
MiniMax is one of China’s so-called “AI tigers” — the elite group of startups building large language models to compete with America’s AI giants. It beat most of its rivals to the public markets, and its debut crushed that of fellow tiger Zhipu, which listed just one day earlier (CNBC).
Speaking of which — we covered the Zhipu listing and how to trade it in our Zhipu stock perps guide. MiniMax is the bigger, louder sibling in the same trade.
2. Explosive Revenue Growth
MiniMax isn’t just hype:
- Revenue grew roughly 130% comparing 2024 with the first nine months of 2025
- The company cut its AI inference costs by ~45% in a year — critical for margins at scale
- It spans consumer and enterprise: viral apps like Hailuo AI on one side, an API platform for businesses on the other
Yes, it’s still loss-making — that’s the norm for frontier AI labs racing for market share. Bulls are betting today’s R&D burn becomes tomorrow’s moat.
3. Institutional Money Is Leaning In
The tailwinds are macro, not just company-specific. Morgan Stanley has predicted Chinese stocks are set for a significant AI-driven boost, and China’s AI tigers have rallied on endorsements from major industry figures (CNBC’s sector coverage). Beijing’s policy support for homegrown AI adds another layer to the bull case (SCMP).
4. The Pullback Is the Setup
MiniMax stock has retraced from its HK$345 debut close to around HK$209 as of late July 2026 — still comfortably above its HK$165 IPO price. For bulls, that’s a reset: the froth is out, the growth story is intact, and every product launch or earnings beat is a potential catalyst. For traders, a volatile, high-beta AI stock is simply a rich environment — in both directions.
Why Trade MiniMax With Stock Perps?
MiniMax trades on the Hong Kong Stock Exchange — limited hours, and not easily accessible for many global retail traders. MiniMax stock perps on BTSE remove those barriers:
- 24/7 trading — AI news doesn’t wait for the HKEX opening auction, and neither should you
- Long or short — trade the breakout or fade the hype
- Up to 50x leverage — amplify your exposure with less upfront capital
- No expiry — perpetual contracts you can hold as long as your margin allows
- Stablecoin settlement — trade stock perps and crypto perps from one USDT wallet
If perps are new to you, read what perpetual futures are first, then the top 10 stock perp questions answered.
Trading MiniMax Stock Perps: Quick Tips
- Expect volatility. Recently listed AI stocks move fast on model releases, user numbers, and sector sentiment. Fast can mean fast against you.
- Respect the leverage. At 50x, small moves are big moves. Our risk management guide for futures trading covers margin, position sizing, and liquidation.
- Watch the funding rate. Crowded longs on hot names can make funding expensive — factor it into any position you plan to hold.
- Track the sector. MiniMax trades in sympathy with Zhipu and the broader China AI complex. Sector-wide headlines move the whole group.
The Bottom Line
MiniMax is one of the most direct ways to trade China’s AI ambitions: triple-digit revenue growth, Alibaba and Tencent in its corner, viral consumer products, and a post-IPO pullback that has reset expectations. Whether you’re bullish on the rebound or just want exposure to the volatility, stock perps let you trade it on your schedule.
Trade MiniMax Stock Perps on BTSE
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This article is for informational purposes only and is not financial advice. Perpetual futures and leveraged products carry significant risk, including the risk of liquidation. Trade responsibly.
