MINIMAX (00100) witnessed a remarkable surge of over 12% during intraday trading, achieving a record high since its market debut. As of the time of reporting, the stock price had climbed by 8.93%, reaching HK$1,086, accompanied by a trading volume of HK$951 million. Recently, MiniMax unveiled its innovative 'Lobster' skill, which empowers users to personalize the voice tone of their AI assistant via specific platforms. Data from OpenRouter revealed that the weekly call volume for large Chinese language models increased last week, with MiniMax M2.5 once again securing the top spot. A research report from Morgan Stanley highlighted that MiniMax's commercialization progress has significantly outstripped expectations. Specifically, its annualized recurring revenue has grown by more than 50% within two months, accompanied by a spike in Token usage for the M2 model and a reduction in inference costs. The bank continues to uphold its overweight rating on the stock, setting a target price of HK$990. This implies a potential upside of approximately 23% from the current stock price.