The Zhitong Finance App learned that on August 21, MiniMax (00100) had an intraday increase of more than 12%. On the same day, CICC released a research report to maintain MiniMax's rating of outperforming the industry. Considering the intensification of competition in the big model industry, it is believed that the current valuation discount has exceeded a reasonable level, and the target price is HK$786.
This week, MiniMax officially released MiniMax Design, a multi-modal creation agent workbench. This is the first official Harness created by MiniMax after H3 was opened. The goal is to bring model generation and editing capabilities into the commercial content production process.
After users submit creative requirements, MiniMax Design can use agents to understand goals, disassemble tasks, and call models and skills to complete material processing, content generation, modification, and delivery. H3 is responsible for multi-modal understanding, video generation, video editing, and reference control, while Design further handles task planning, material organization, and multi-link collaboration to allow models to participate in the complete process from idea to film.
According to the CICC Research Report, H3 has entered the first tier of the multi-modal model. Its multi-reference, video editing, and motion graphics generation capabilities match well with scenarios that require high-frequency production and continuous modification, such as advertising, e-commerce, and brand content. According to CICC, H3 and MiniMax Design solve the problems of content generation and project organization respectively. The collaboration between the two is expected to shorten delivery cycles, reduce repeated generation and late rework, and increase the number and depth of model calls and usage depth for individual users. By the end of 2025, the MiniMax video model had generated more than 600 million videos, and this group of users also provided a transformation foundation for Design into professional subscriptions, team collaboration, and enterprise services.