Hong Kong AI Stocks Rally as MiniMax Reports Stellar Growth
Hong Kong AI Stocks Rally on Strong Earnings and Fed Rate Cut Hopes
Investors cheered today as Hong Kong's AI sector staged an impressive comeback, with several key players posting significant gains. The rally comes after weeks of correction in tech stocks, offering a much-needed boost to market sentiment.
MiniMax Leads the Charge
The standout performer was MiniMax (00100.HK), whose shares jumped nearly 13% following its first annual earnings report since listing. The AI platform company reported revenue of $79.04 million for 2025 - a staggering 158.9% year-over-year increase. What's particularly noteworthy is that over 70% of this revenue came from international markets, suggesting strong global demand for its services.
CEO Yan Junjie shared even more encouraging news during the earnings call: "Our ARR (Annual Recurring Revenue) has already surpassed $150 million in February 2026, and daily Token consumption has grown more than sixfold since year-end." These figures helped alleviate widespread concerns about whether AI companies can turn promising technology into sustainable profits.
Ripple Effects Across the Sector
The positive momentum wasn't limited to MiniMax. Zhipu (02513.HK), often called the "AGI base model pioneer," saw its shares rise nearly 7%. The company's new GLM-4.7 model has been performing strongly worldwide, particularly in government and enterprise markets.
Autonomous driving specialists also joined the party:
- WeRide gained approximately 7%
- Pony.ai climbed nearly the same amount
The synchronized rise across different AI applications suggests investors are starting to see concrete progress in turning AI concepts into viable businesses.
What's Driving the Rally?
Market analysts point to two main factors behind today's surge:
- MiniMax's surprisingly strong financial performance, which exceeded most expectations
- Growing anticipation of Federal Reserve rate cuts, which typically benefit growth stocks like tech companies
The combination appears to have restored faith in AI companies' ability to commercialize their technologies - at least for now.
Key Points:
- MiniMax shares surged 13% after reporting 158.9% revenue growth
- Over 70% of MiniMax's revenue comes from international markets
- Zhipu and autonomous driving firms gained about 7%
- Market sentiment improving on strong earnings and potential Fed rate cuts
