{"id":22874,"date":"2026-07-07T09:30:27","date_gmt":"2026-07-07T09:30:27","guid":{"rendered":"https:\/\/jobuzo.com\/en\/zhipu-ai-minimax-shares-to-test-hong-kong-market-as-lock-ups-end\/"},"modified":"2026-07-07T09:30:27","modified_gmt":"2026-07-07T09:30:27","slug":"zhipu-ai-minimax-shares-to-test-hong-kong-market-as-lock-ups-end","status":"publish","type":"post","link":"https:\/\/jobuzo.com\/en\/zhipu-ai-minimax-shares-to-test-hong-kong-market-as-lock-ups-end\/","title":{"rendered":"Zhipu AI, MiniMax shares to test Hong Kong market as lock-ups end"},"content":{"rendered":"
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Hong Kong’s stock market could face sell-off pressure amid a torrent of new share supply in coming days as the six-month lock-up period ends for hot artificial intelligence and semiconductor picks including Zhipu AI and MiniMax.<\/p>\n

Meanwhile analysts warned of rising fears of a drain on liquidity as many of the same companies were eyeing large secondary share placements.<\/p>\n

The market was facing dual selling pressure, said Stevan Tam, associate director at Fulbright Financial.<\/p>\n

“These stocks have generally seen significant gains, and it is believed that investors may be looking to lock in some profits, which could limit their upwards momentum,” he said. “At the same time, large-scale placements could intensify selling pressure.”<\/p>\n

The lock-up periods for AI model developers Zhipu, which is known as Z.ai internationally and trades as Knowledge Atlas Technology, and MiniMax end on Tuesday and Wednesday, respectively, with 25.68 million and 150 million shares becoming tradeable, out of total issued shares of 446 million and 314 million, respectively.<\/p>\n

Zhipu gained 5.2 per cent to HK$1,610 on Tuesday after sliding 14.6 per cent on Monday, while MiniMax lost 3.3 per cent to HK$323.80 on Tuesday after a drop of the same magnitude on Monday. Based on Tuesday’s closing prices, the combined market value of the shares subject to the lock-up expiration amounts to about HK$90 billion (US$11.5 billion).<\/p>\n<\/div>\n

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Zhipu AI, MiniMax shares to test Hong Kong market as lock-ups end<\/sub><\/p>\n","protected":false},"excerpt":{"rendered":"

Hong Kong’s stock market could face sell-off pressure amid a torrent of new share supply in coming days as the six-month lock-up period ends for hot artificial intelligence and semiconductor picks including Zhipu AI and MiniMax. Meanwhile analysts warned of rising fears of a drain on liquidity as many of the same companies were eyeing…<\/p>\n

Read More “Zhipu AI, MiniMax shares to test Hong Kong market as lock-ups end”<\/span> »<\/a><\/p>\n","protected":false},"author":1,"featured_media":22875,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-22874","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/jobuzo.com\/en\/wp-json\/wp\/v2\/posts\/22874","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jobuzo.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jobuzo.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jobuzo.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/jobuzo.com\/en\/wp-json\/wp\/v2\/comments?post=22874"}],"version-history":[{"count":0,"href":"https:\/\/jobuzo.com\/en\/wp-json\/wp\/v2\/posts\/22874\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jobuzo.com\/en\/wp-json\/wp\/v2\/media\/22875"}],"wp:attachment":[{"href":"https:\/\/jobuzo.com\/en\/wp-json\/wp\/v2\/media?parent=22874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jobuzo.com\/en\/wp-json\/wp\/v2\/categories?post=22874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jobuzo.com\/en\/wp-json\/wp\/v2\/tags?post=22874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}