Hong Kong AI Stocks Rally as MiniMax Earnings Spark Sector Revival
Hong Kong AI Stocks Bounce Back with Strong Earnings Momentum
The Hong Kong stock market witnessed a remarkable rebound in AI-related stocks on March 5, 2026, with sector leader MiniMax (00100.HK) spearheading the charge. Shares of the artificial intelligence platform surged nearly 13% intraday after releasing financial results that exceeded market expectations.
Earnings Surprise Fuels Optimism
MiniMax's first annual report since going public revealed striking growth numbers:
- Revenue skyrocketed to $79.04 million in 2025, marking a 158.9% year-over-year increase
- International markets contributed over 70% of total revenue
- Adjusted gross margins more than doubled from 12.2% to 25.4%
CEO Yan Junjie shared even more promising updates during the earnings call: "Our ARR crossed $150 million last month, and daily token usage has grown sixfold since December." These metrics helped alleviate concerns about profitability in the capital-intensive AI sector.
Ripple Effect Across the Ecosystem
The positive momentum wasn't confined to MiniMax alone:
- Zhipu (02513.HK) climbed nearly 7%, benefiting from strong performance of its GLM-4.7 model
- Autonomous driving specialists WeRide and Pony.ai joined the rally as regulatory approvals for Robotaxi services expanded
Market analysts attribute this broad-based recovery to two main factors:
- Growing confidence in AI monetization pathways
- Anticipation of potential Federal Reserve rate cuts easing financing pressures
The simultaneous strength across different AI applications suggests investors are increasingly differentiating between hype and sustainable business models.
Key Points:
- MiniMax's international focus appears to be paying dividends
- Profitability metrics showed meaningful improvement despite accounting charges
- The rally reflects shifting investor focus from pure technology to commercial viability
- Autonomous driving stocks may be entering a new phase of order-driven growth
