Movement Alert｜MINIMAX-W Rises 3.15% in Regular Trading, New M3.1-Flash-Preview Model Enters Public Beta as Mystery Space Bunny Tops Global API Call Rankings

Market Focus

Yesterday

On September 30, MINIMAX-W rose 3.15% in regular trading, trading at 251.2 HKD/share, with turnover of HKD 255 million. The stock rebounded after a cumulative decline of over 15% in the prior five trading sessions.

On the news front, MiniMax officially launched its text model M3.1-Flash-Preview for public beta on September 28. The new model supports native multimodality and a million-token context window, with coding capabilities significantly improved over M3. Concurrently, an anonymous model dubbed Space Bunny has surged to the top of daily API call rankings on both OpenRouter and OpenCode. Developer community fingerprint analysis, including tokenizer tests, found characteristics highly consistent with MiniMax models, fueling widespread market speculation that Space Bunny is an M3.1 preview variant. On OpenRouter, Space Bunny, DeepSeek V4.1 Flash, and GLM 5.3 Flash now form the new Flash model top three.

Separately, on September 29, the company granted approximately 2.09 million share awards under its post-IPO incentive plan, with a maximum vesting period of 72 months.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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