Minimax 0100

[winston]

vested

Chinese AI firm MiniMax expected to price Hong Kong IPO at top of range, sources say

By Kane Wu

HONG KONG, Jan 5 (Reuters) – Chinese AI startup MiniMax Group is expected to settle its Hong Kong ‍initial public offering at the top of its pricing range, after deal books have been oversubscribed multiple times, three people with knowledge of the situation said on Monday.

MiniMax launched bookbuilding of ‌the IPO on December 31 at ‌a price range of HK$151 to HK$165 apiece.

At the higher end, the company is poised to raise HK$4.19 billion ($538 million) from selling 25.4 million ​shares. The IPO would value MiniMax at about $6.5 billion.

Founded in early 2022 by former ‍SenseTime executive Yan Junjie, ​MiniMax develops multimodal AI models, ​such as MiniMax M1, Hailuo-02, Speech-02 and Music-01, ‍which can process text, audio, images, video and music.

MiniMax is scheduled to price the offering on January 6, but one of the sources said it looks to close ‍bookbuilding for the institutional tranche by 5 p.m. Hong Kong time on Monday. The shares will make ‍their trading ‍debut on January 9.

The company ​did not immediately reply to a ​Reuters ⁠request for comment. The sources ‌could not be named as the information was confidential.

Bloomberg first reported on Monday the planned IPO price.

Source: Thomson Reuters

https://whtc.com/2026/01/05/chinese-ai- ... urces-say/

[winston]

MiniMax Sets IPO Price at the High End Amid Strong Demand

Backed by Alibaba Group and Abu Dhabi’s sovereign wealth fund, MiniMax stands out as one of the first generative AI companies looking to go public following China’s ChatGPT wave. It aims not only to carve out its niche but also challenge established competitors like OpenAI on an increasingly competitive global stage.

A noteworthy aspect of this IPO is its impressive lineup of cornerstone investors; fourteen entities have committed nearly HKD 2.72 billion towards subscriptions—including renowned asset management giants such as Aspex Investment Management and Eastspring Investments alongside prominent institutions like Alibaba itself.

This diverse group encompasses international long-term capital sources along with leading technology firms which indicates robust market validation for MiniMax's business model and growth potential—a sentiment echoed by previous investments from notable names including MiHoYo, Tencent Holdings Ltd., Sequoia Capital China, IDG Capital Partners, and Hillhouse Capital Group.

It boasts over two hundred million individual users across more than two hundred countries as of September 2025 — with revenue soaring over seventy percent year-on-year during just nine months into that fiscal year—and international markets contributing significantly above seventy percent toward total earnings.

Source: Create AI

https://www.oreateai.com/blog/minimax-s ... f0bf594791

[winston]

not vested

<Research>Guosen Securities Keeps Outperform on MINIMAX-WP Following Recent MiniMax 2.5 Release

Guosen Securities has released a report reiterating an Outperform rating on MINIMAX-WP (00100.HK) .

MINIMAX-WP recently launched MiniMax 2.5, making it economically viable to run complex Agents. To enhance Agent performance in specialized professional tasks, the company has also introduced an expert function, allowing each user to inject their skills and knowledge into the Agent and establish SOPs for specific fields.

Alongside the Expert 2.0 upgrade, MINIMAX-WP has rolled out MaxClaw, a cloud-based AI assistant built on OpenClaw, directly integrated into the MiniMax Agent web platform, enabling users to deploy and run OpenClaw on the cloud without needing their own server or API Key.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

not vested

(Equity Explorer) Minimax Group Inc (100 HK): Cost-Efficient Multimodal AI (Not Rated)

Pure-play global multimodal foundation model developer with frontier-class capability

Open Platform scale-up drives revenue to grow 143x during FY25-30F, reaching USD11bn and 7% of TAM

Adjusted profitability inflects in FY28F on R&D operating leverage from scale, adj. NP to reach USD1.9bn in FY30F

Fair value HKD900 at 30x FY30F P/E with 13% discount rate; better entry likely post-July'26 lockup expiry

Source: DBS

https://www.dbs.com/insightsdirect/indu ... ecid=30979