Z.AI, MiniMax fall as rival Deepseek launches V4.1-Flash model

MiniMax

10/09/2026 08:15

** Shares of large language model developer Z.AI 2513.HK drop 11.7% to HK$807, their lowest level since April 30, on track for eighth straight session of decline
** Top pct loser in Hang Seng TECH Index .HSTECH, which falls 2.2%
** Stock of smaller rival MiniMax Group 0100.HK falls 10% to HK$288.6, the lowest point since August 19; second biggest pct loser in Hang Seng TECH Index .HSTECH 
** Chinese AI startup DeepSeek on Thursday launched DeepSeek-V4.1-Flash, which the company said is the smallest model in its new architecture family, according to a statement
** DeepSeek, which is planning a Shanghai listing, said the new model is designed for greater capability, faster inference, higher throughput and scaling to larger models
** Since Hong Kong debut on January 8, Z.AI stock up 599.7% from the offer price of HK$116.20 per share
** Since debut on January 9, MiniMax shares up 76.2% from the offer price of HK$165 per share
** YTD, benchmark Hang Seng Index .HSI down 2.6%
     
     

(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))