Hong Kong-listed large model duo continue to plunge: MiniMax falls below IPO issue price, both retreat over 80% from highs

Beating AI News Flash, on the morning of October 22, the two major large-model stocks in the Hong Kong stock market continued to decline. Zhipu (02513.HK) fell 7.06% intraday to HK$461; MiniMax (00100.HK) fell 5.58% intraday to HK$162.3, touching an intraday low of HK$159.3, officially falling below its IPO issue price of HK$165 when it listed in January this year.

Both companies experienced sharp stock price surges this year. Zhipu once climbed to HK$2,980, and MiniMax reached a high of HK$1,330. Now, both have pulled back more than 80% from their historical highs. However, Zhipu's current stock price is still nearly 4 times its issue price of HK$116.2, while MiniMax has already broken below its issue price.