Citibank: Raise MINIMAX-W (00100) target price to HK$576 to maintain “buy” rating

The Zhitong Finance App learned that Citi released a research report stating that it raised the MINIMAX-W (00100) target price from HK$533 to HK$576, maintaining the “buy” rating. MiniMax's revenue performance in the first half of the year was strong, reaching US$117 million, which was 272% higher than market expectations. Management expects that the upcoming M3.1 and 3T M3 Pro models will drive further expansion of profit margins. Coupled with strategic planning and targeting sufficient computing power supply, and balancing resource allocation between model training and corporate reasoning needs, the bank believes that the goal of ARR reaching 1 billion US dollars by the end of the year should be achieved.