MiniMax gives out HK$600 million in stock rewards

AI company MiniMax announced it gave out 1.1688 million shares to directors, employees, and service providers at zero cost. Based on the closing price of HK$515 per share on the grant day, the total value is about HK$600 million. Executive director Zhao Pengyu got 250,000 shares worth HK$129 million; employees got about 908,535 shares worth HK$468 million; service providers got about 10,241 shares worth HK$5.27 million. The rewards have no performance targets—just stay at the company to get them. Founder Yan Junjie once said giving more money is the way to boost confidence. MiniMax listed on the Hong Kong Stock Exchange in January 2025 at HK$165 per share; now the stock is at HK$477.6.