MiniMax、智谱港股IPO获证监会备案，拟分别发行不超3357.7万、4303万股

Core Viewpoint - MiniMax and Zhiyu have received approval from the China Securities Regulatory Commission (CSRC) for their overseas IPOs, marking significant steps for these companies in the AI sector [1][2][4]. Group 1: MiniMax - MiniMax plans to issue up to 33,577,240 shares for its overseas listing on the Hong Kong Stock Exchange, with its domestic operating entity being Shanghai Xiyu Jizhi Technology Co., Ltd [1]. - The company aims to comply with all relevant laws and regulations during the overseas listing process and must report any significant events to the CSRC [1]. - MiniMax was established in early 2022 and focuses on developing competitive general models, offering a range of AI-native products for both consumer and enterprise users [6]. Group 2: Zhiyu - Zhiyu intends to issue up to 43,032,400 shares for its overseas listing on the Hong Kong Stock Exchange, with 57 shareholders converting a total of 178,282,205 shares from domestic to overseas listings [2][4]. - The company must also adhere to CSRC regulations and report any significant events during the listing process [4]. - Zhiyu, founded in 2019, is recognized as a pioneer in large model research and has developed a comprehensive model matrix covering various applications [5]. Group 3: Financial Performance - Zhiyu reported a revenue of 190 million yuan for the first half of the year, with a net loss of 2.358 billion yuan, compared to a revenue of 44.9 million yuan and a net loss of 1.236 billion yuan in the same period last year [5]. - MiniMax's total revenue increased to 53.437 million USD as of September 30, compared to 19.455 million USD for the same period last year, with adjusted losses projected to reach 244 million USD by 2024 [6].