MiniMax今起招股！获全球顶级长线基金约27.23亿港元基石认购，预计将于1月9日上市

Core Viewpoint - MiniMax, an AI company founded in 2022, is set to launch its IPO on January 9, 2024, with a valuation between 46.123 billion HKD and 50.399 billion HKD, marking its rapid ascent in the global AI industry within just four years [1][2]. Group 1: IPO Details - MiniMax plans to issue 25,389,220 shares at a price range of 151 HKD to 165 HKD per share, aiming for a total valuation of 461.23 billion HKD to 503.99 billion HKD [1]. - The company has secured cornerstone investments totaling approximately 2.723 billion HKD from 14 investors, including Aspex, Eastspring, Mirae Asset, Alibaba, and E Fund, indicating strong market confidence [1][2]. Group 2: Business Model and Growth - MiniMax's business model has been recognized for its self-sustaining capabilities, attracting long-term capital from major international asset management firms, which is a rare consensus in the market [2]. - The company reported a revenue growth of over 170% year-on-year for the first nine months of 2025, with over 70% of its revenue coming from international markets, showcasing its effective global market expansion [2]. Group 3: Technological Advancements - MiniMax has achieved significant technological breakthroughs in speech, video, and text models, launching several leading products, including the Speech 01 and Speech 02 models, which have generated over 2.2 billion hours of speech [3]. - The company also released the Video 01 model and its upgraded version Hailuo 02, which have collectively helped creators generate over 590 million videos [3]. Group 4: Future Prospects - MiniMax aims to raise funds primarily for the development of large model upgrades and AI-native products, with a vision to enhance global productivity and creativity [7]. - The global AI market is projected to grow from 189 billion USD in 2023 to 4.8 trillion USD by 2033, presenting a significant opportunity for MiniMax to capitalize on this rapid growth [7].