MiniMax (00100.HK) shares rose as much as 19% in afternoon trading to HK$358, with turnover reaching HK$5.8 billion, after the company made H3 Max available on its open platform and MiniMax Design. The model can generate a complete five-second, 768p video with audio in under three seconds, exceeding real-time playback speed and enabling continuously running AI live streams. The stock had earlier risen 12% to HK$338 with HK$4.4 billion in turnover and finished more than 16% higher, while the Hang Seng fell 0.07% and the Hang Seng Tech Index gained 0.32%. H3 Max was post-trained and inference-optimized by AI cloud provider fal from MiniMax H3 open weights, and supports text-to-video and image-to-video generation at 480p or 768p, with audio, 24 frames per second and five- to 15-second durations. Huatai Securities expects AI model commercialization to accelerate over the next four to six months, with faster second-half product launches potentially supporting revenue growth; M3 Pro could launch in September or October with parameters at about the 3-trillion scale.