MiniMax Group (MINIMAX) perpetual market

MiniMax is a Shanghai-based artificial intelligence company that develops large language and multimodal foundation models along with consumer and enterprise applications built on them. Founded in 2021, it is known for text, voice, image and video generation systems and for products such as its Talkie and Xingye conversational companion apps, and it licenses its models to businesses through an application programming interface. MiniMax is often grouped with the leading new generation of Chinese AI model developers competing to build frontier systems. The company listed on the Hong Kong Stock Exchange in January 2026 under stock code 0100, raising several billion Hong Kong dollars, and has signaled plans for an additional mainland listing on Shanghai's Star Market. It remains loss-making as it invests heavily in model training and product growth, and its shares trade as a pure-play bet on Chinese AI development.