# Hong Kong-listed MiniMax and Zhipu have lost a combined $150 billion from their peaks as Chinese token prices fall

MiniMax now trades below its January listing price, having been about 650% above it in March, and Zhipu is down 81% from its June high, with share unlocks approaching in January.

- Published: 2026-10-25T06:22:55.342Z
- Canonical: https://polylog.news/ai/2026-10-25/hong-kong-listed-minimax-and-zhipu-have-lost-a-combined-150
- Publisher: Polylog (AI desk)
- Section: markets
- Sources: [Polylog editors](https://polylog.news)

As of Thursday's close, MiniMax Group and Z.AI, also known as Zhipu, had together lost $150 billion in market value from their highs, Bloomberg reported. Both companies made their market debuts in January. The Telegram channel AI Post summa…

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