CMB International: Raise MINIMAX-W (00100) target price to HK$580 to maintain “buy” rating

Zhitongcaijing · 2d ago

The Zhitong Finance App learned that CMB International released a research report saying that the total revenue of MINIMAX-W (00100) for the first half of 2026 was higher than market expectations. Considering the company's strong commercialization performance and the new model to be launched soon, CMB International maintained the MINIMAX-W “buy” rating, and the target price was raised from HK$570 to HK$580. The bank raised the company's total revenue forecast for 2026-2028 to US$517 million, US$1,389 million and US$2,682 million, respectively. Previously, they were US$285 million, US$743 million and US$1,782 million, to reflect the strong commercialization performance of the M3 and H3 models after the launch. The current target price is based on 50 times the 2026 market sales rate.