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MiniMax

MiniMax
The latest news and top stories on MiniMax. A China-based entity in the artificial intelligence sector, MiniMax specialises in developing multimodal AI models, including large language models, text-to-speech and video generation. It primarily serves users, developers and businesses and is known for its open-sourcing efforts and focus on computational efficiency.
Lingyi iTech robots perform a thousand-hand Guanyin dance at the opening of Honor’s Alpha Global Flagship Store last September in Shenzhen. The store is a sign of AI’s growing ubiquity, something also demonstrated by the sector’s increasing importance to the HKEX. Photo: VCG via Getty Images
Wealth Report

Tech pioneers flocking to Hong Kong thanks to revamped listing rules

An AI-driven surge of Chapter 18C listings has pushed HKEX past New York in IPO fundraising, but how has the listing route impacted economic growth?

Hong Kong stock market

Hang Seng Index caps worst week in over a year amid tech sell-off

Hong Kong stock market

HKEX pushes deeper into index business as AI reshapes Hong Kong market

Artificial intelligence

DeepSeek on hiring spree – seeks newcomers, not just AI geniuses

The Chinese AI giant is looking to double in size as it seeks to become a ‘driving force’ in the creation of artificial general intelligence.

DeepSeek founder Liang Wenfeng. Photo: Shutterstock
The Future of Marketing in Asia

The art of persuasion enters the AI era

Content creators have risen to eclipse traditional ad formats, but now, as AI takes centre stage, the battle for authenticity is on.

China stock market

How are Chinese firms faring as AI and tech reshape global market cap rankings?

Tencent leads pack, but country’s largest listed firms remain dominated by state-owned banks, energy producers and consumer brands.

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Artificial intelligence

Zhipu, DeepSeek push China’s trillion-parameter AI frontier amid US clampdown

China’s AI developers deepen push into massive foundation models, backed by lower costs and investor momentum despite US restrictions.

Even as model sizes balloon, Chinese AI firms continue to compete aggressively on price rather than relying solely on performance premiums. Photo: Shutterstock
Artificial intelligence

Shanghai charts IPO path for cash-hungry AI labs racing against US

The move aims to support listings of ‘high-quality’ AI firms that have yet to form ‘a certain scale of revenue’.

Artificial intelligence

AI for less: price war in China deepens amid ‘intense’ competition

Narrowing capability gaps between models and falling costs of service set stage for price reductions to continue, analysts say.

Hong Kong stock market

Can Hong Kong investors weather US$274 billion lock-up expiry wave?

A surge of freed shares will challenge Hong Kong’s stock market, with analysts pointing to inflows and corporate support as key buffers.

The expiry of lock-ups adds a layer of uncertainty to Hong Kong stocks, which have underperformed global peers due to limited exposure to artificial intelligence. Photo: Jelly Tse
IPO

As Musk becomes first trillionaire from SpaceX IPO, will next come from China?

As the initial public offering sees Musk become the first ever trillionaire, China is also seeing growth in its tech uber-rich.

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Elon Musk in Beijing on May 14. Photo: AP
Artificial intelligence

Could the AI ‘self-evolution’ trend add fuel to the China-US tech war?

Anthropic says its Mythos model is edging closer to ‘recursive self-improvement’ as Chinese developers seek to close gap.

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Artificial intelligence

Zhipu vs MiniMax: what’s driving the widening valuation gap in Hong Kong

Zhipu’s valuation now eclipses MiniMax, but looming lock-up tests may unleash volatility in Hong Kong’s AI stocks, analysts say.

Hong Kong stock market

Hong Kong tech gauge welcomes MiniMax, Zhipu in AI milestone amid slump

Analysts say substantial passive inflows may follow the inclusion of MiniMax and Zhipu, though looming lock-up expiries risk diluting gains.

Morgan Stanley projected that had MiniMax and Zhipu been included in the Hang Seng Tech Index at the time of their IPOs, replacing the benchmark’s two smallest constituents, the index’s year-to-date return would have been about 5 percentage points higher. Photo: Shutterstock
Artificial intelligence

Moonshot AI eyes US$30 billion valuation as China’s AI race intensifies

The company behind the Kimi chatbot is aiming for a valuation that would place it among China’s most valuable AI start-ups.

Moonshot AI's new funding round could value the company at as much as US$30 billion. Photo: Shutterstock Images
Artificial intelligence

DeepSeek’s bargain AI triggers price war across China’s tech sector

DeepSeek’s pricing shock is rippling through China’s AI sector, pressuring rivals and unsettling cloud providers.

Banking & finance

The Stock Connect problem: why can’t investors buy the mainland’s top AI stocks?

Hong Kong’s investors have been unable to take advantage of the recent wave of blockbuster listings by Chinese AI companies on the mainland.

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Banking & finance

China sees revival of foreign investors through IPOs, convertibles: UBS

The trend is part of a broader recovery of interest in Chinese assets from investors overseas.

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A terrace in Beijing’s central business district in China. Photo: Getty Images
Hong Kong stock market

Is Hong Kong losing its tech edge to the mainland’s AI boom?

Chinese investors are shifting from Hong Kong to mainland stocks, driven by AI opportunities and better returns.

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Ant Group

How Meituan’s US$1b bets on AI, robotics outshine quarterly loss

Investment windfall provides cushion as core-business margins face intense pressure from battle with Alibaba Group Holding and JD.com.

IPO

Why Hong Kong is now the launch pad for mainland China’s AI champions

City emerges as a price-discovery hub, with mainland AI firms reversing a decades-old dual-listing order to secure global benchmarks.

Zhipu and MiniMax are spearheading the new trend of listing first in Hong Kong before selling shares in mainland China. Photo: Shutterstock
Artificial intelligence

MiniMax debuts AI model built for long and complex coding tasks

Shanghai-based company says M3 can process data five times faster than its predecessor, while also slashing inference costs.

MiniMax says AI model M3 has increased response speed and lowered inference costs. Photo: Shutterstock
IPO

AI firm MiniMax prepares for mainland China listing after Hong Kong shares surge

Chinese AI model company hires Citic Securities to prepare a mainland share sale, with the listing venue yet to be confirmed.

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HKEX

HKEX revamps Tech 100 Index as benchmark struggles to keep pace with AI rally

Seven firms including Hesai, Geekplus and Deepexi join the index as investors question whether local benchmarks reflect fast-rising AI sector.

Artificial intelligence

China’s MiniMax records 1-million client base, fivefold growth in half a year

Its global user base reaches 300 million while ARR more than doubles in two months, though company reports large total losses.

A Minimax logo displayed on a smartphone screen. Photo: Shutterstock Images
Ant Group

Alipay’s AI Wallet and Token Pay a big bet on the future by Ant Group

Chinese fintech giant looks to dominate the transaction layer of the emerging ‘agent economy’ as AI evolves to executing real-world tasks.

The Alipay logo is displayed next to a QR payment code on the app. Photo: Reuters
Hong Kong stock market

Hang Seng Index review to boost market capitalisation by 4.5%: analysts

Tencent, BeOne Medicines, Baidu and NetEase may lure fund inflows between US$200 million and US$1 billion, due to index weighting changes.

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Artificial intelligence

DeepSeek V4 Pro tops global bang-for-buck ranking after 75% price cut

Model ranks among world’s best for intelligence per dollar thanks to now permanent price cut, according to Artificial Analysis.

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