MiniMax Group Inc. successfully completed its IPO on the Hong Kong Stock Exchange, raising up to $712 million, marking a significant milestone for AI companies in China.

Target Company Overview

MiniMax Group Inc. (稀宇科技), trading under the stock code 0100.HK, is a global leader in the artificial intelligence (AI) technology sector. Established in early 2022, MiniMax is dedicated to advancing frontier developments in AI, with the mission of 'co-creating intelligence with everyone'. The company stands out as the only independent AI model firm in China with multi-modal capabilities that rank among the global leaders. MiniMax offers a range of AI-native products worldwide, including the MiniMax Agent, 海螺AI, MiniMax Audio, and 星野, along with an open platform for enterprises and developers, delivering premium intelligent experiences to users globally.

Since its inception, MiniMax has served over 2.12 billion individual users across more than 200 countries and regions, in addition to catering to over 100,000 enterprise clients and developers. The company places a strong emphasis on algorithm innovation and engineering optimization, ensuring continuous advancements in its technology and model capabilities, thus contributing significantly to the self-innovation journey of the Chinese AI industry.

Industry Overview in China

The AI industry in China has experienced remarkable growth, establishing itself as a core component of the nation's technological advancement. As the government identifies AI as a strategic priority, substantial investments have been c