Daihe: Initiated coverage on MiniMax-W (00100.HK) with a "Buy" rating and a target price of HKD 530, as it is one of the few beneficiaries of the domestic AI commercialization trend among pure AI large model stocks.

According to the Zhito Finance APP, Daiwa has released a research report stating that it initiates coverage of MiniMax-W (00100.HK) with a "Buy" rating and a target price of HKD 530. The report notes that the company focuses on competitive modeling capabilities and cost efficiency, making it one of the few publicly traded companies that fully benefit from China's AI commercialization trend. Daiwa believes that the recent weakness relative to the company's fundamentals and growth prospects provides an attractive entry point, and potential catalysts over the next 12 months should support a valuation reassessment.