Minimax is finally making money! My cost was 248 HKD. At one point, it dropped below 200 HKD—such a tough ride. Their latest fundraising was 16 billion HKD. Institutional cost is 268 HKD, and the team has been expanding rapidly recently. The H3 model is performing well too, offering low-cost video gacha and open-source deployment. Institutions are rating MiniMax at least 500 HKD or higher. It was just officially included in the Southbound Stock Connect today, marking the start of improved liquidity, and more funds are expected to flow in.