On September 25, MINIMAX-W fell 3.08% in regular trading, trading at 272.0 HKD/share, with turnover of approximately 42.59 million HKD. The decline came as the broader systems software sector weakened alongside mounting concerns over the competitive landscape in China's AI model industry.

On the news front, UBS recently published a research note stating that the competitive outlook for Chinese AI models has grown increasingly complex, weighing on momentum for listed model companies. MINIMAX-W has declined approximately 20% month-to-date. Short selling data as of September 23 showed a short-sell ratio of 9.652%, with short-sell value reaching 2.86 billion HKD. Additionally, southbound capital has been reducing its holdings in recent sessions, compounding near-term selling pressure and profit-taking headwinds.

Within the Systems Software sector, stocks declined broadly. HAIZHI TECH GP fell 2.21%, WENGE AI fell 1.48%, Z.AI fell 1.17%, EXTREME VISION fell 0.77%, and DEEPEXI TECH fell 0.42%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)