Shanghai-based AI startup MiniMax to list at HKEX

The Ultimate Guide to Shanghai-based AI Startup MiniMax A Pathbreaking Journey to Listing on HKEX

As the digital age accelerates, technological innovation has undergone a profound transformation. Among the trailblazers in this landscape are AI-powered startups, with MiniMax, a Shanghai-based company, recently confirming its listing on the Hong Kong Stock Exchange (HKEX). This journey is a testament to the startup's innovative thinking and rapid growth.

The Rise of MiniMax

Founded by Yan Junjie in early 2022, MiniMax has quickly established itself as a born-global developer of generative AI models. With a portfolio of AI-powered products and services, including Hailuo AI video tool, Talkie AI, Xingye chatbot, and an open platform for developers and businesses, MiniMax has built a reputation for innovative thinking and rapid growth.

PHIP and HKEX Listing

MiniMax's recent milestone is a remarkable achievement. Having passed the HKEX hearing, the company is poised to become one of the first Chinese AI companies to list on this prestigious exchange. This achievement demonstrates MiniMax's commitment to transparency and compliance.

Revenue Growth

According to its prospectus, MiniMax reported rapid revenue growth in the first nine months of 2025, with business revenue reaching $53.44 million – a staggering 175% increase from $19.45 million in the same period of 2024. With full-year revenue standing at $3.46 million in 2023 and $30.52 million in 2024, MiniMax's financial performance has been remarkable.

Global Reach

MiniMax is an international player with a global footprint. With more than 212 million individual users across over 200 countries and regions, and some 130,000 enterprise customers spanning over 100 countries, the company has established itself as a force to be reckoned with in the AI landscape.

Cost Advantage

In an industry where cost can be a major barrier to entry, MiniMax stands out for its remarkable cost-effectiveness. According to the company's prospectus, the cost of its large model is only 1% of OpenAI's – a staggering achievement considering the massive investment required by other AI players.

Future Plans

As we look ahead to MiniMax's future plans, it's clear that this startup is poised for even greater success. With a focus on commercialization, continued improvement in model intelligence, and expansion into new markets, MiniMax is well-positioned to drive growth and innovation in the years to come.

Conclusion

In conclusion, MiniMax's journey to listing on HKEX marks a significant milestone for this Shanghai-based AI startup. As we reflect on the company's rapid growth, global reach, and cost-effectiveness, it becomes clear that MiniMax is a force to be reckoned with in the AI landscape. With its sights set on further innovation and expansion, MiniMax is poised to make a lasting impact on the world of technology.

Keywords MiniMax, AI startup, Hong Kong Stock Exchange (HKEX), generative AI models, Hailuo AI video tool, Talkie AI, Xingye chatbot, open platform, revenue growth, global reach, cost-effectiveness.

Edward Lance Arellano Lorilla

CEO / Co-Founder

Enjoy the little things in life. For one day, you may look back and realize they were the big things. Many of life's failures are people who did not realize how close they were to success when they gave up.