Group 1 - MiniMax has received approval from the China Securities Regulatory Commission and passed the Hong Kong Stock Exchange hearing, positioning itself to become the "first AGI stock globally" [1] - The global AI market is projected to grow from $189 billion in 2023 to $4.8 trillion by 2033, representing a nearly 25-fold increase in just ten years [1] - MiniMax is recognized as a leading AGI technology company, excelling in multi-modal self-research across text, vision, and audio, with its text model MiniMax M2 ranking in the top five globally [1] Group 2 - MiniMax has launched a series of AI-native applications and an open platform, boasting over 212 million users across more than 200 countries and regions [2] - The company's business model primarily relies on global subscription fees and model usage revenue, making it a sustainable example of AI commercialization [2] - As a leader in the domestic large model sector, MiniMax has demonstrated its technical and commercial capabilities in the global market, filling a gap in the capital market for large model entities upon its IPO [2]