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Zhipu AI, MiniMax Lock-Ups End, $11.5 B Shares Flood Market

7/7/2026

28 5 Full Breakdown

Summary

Story summary

The six-month lock-up periods for Zhipu AI (Knowledge Atlas Technology) and MiniMax end on Tuesday and Wednesday, releasing 25.68 million and 150 million shares.
The shares represent a combined market value of about HK$90 billion (US$11.5 billion) at Tuesday’s mid-day prices.
Stevan Tam, associate director at Fulbright Financial, warns that profit-taking and large secondary placements could intensify selling pressure and curb upward momentum.

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Story summary

The six-month lock-up periods for Zhipu AI (Knowledge Atlas Technology) and MiniMax end on Tuesday and Wednesday, releasing 25.68 million and 150 million shares.
The shares represent a combined market value of about HK$90 billion (US$11.5 billion) at Tuesday’s mid-day prices.
Stevan Tam, associate director at Fulbright Financial, warns that profit-taking and large secondary placements could intensify selling pressure and curb upward momentum.