New stock news: MiniMax will complete nearly $300 million in new financing, reportedly preparing to list in Hong Kong.

According to market sources, the large-scale model company MiniMax has recently completed a new round of financing of nearly 300 million US dollars. After this round of financing, the company's valuation exceeds 4 billion US dollars. The investors in this round of financing include listed companies, cross-border funds, and large state-owned platforms such as Shanghai State-Owned Assets. It is reported that this round of financing began six months ago and has now been essentially finalized. In addition, there are reports in the media that MiniMax is preparing for a listing in Hong Kong, which may land as early as this year. According to insiders, the company has hired investment bank advisers, and the specific plan is still under internal discussion. The company has not responded to this news. Previously, MiniMax completed a 600 million US dollar Series B financing round funded by Alibaba, and a Series A financing round funded by Tencent Capital exceeding 250 million US dollars. Early investors also include Yunqi Capital, Hillhouse Capital, IDG, Mindworks Capital, MiHaYo, among others, but there were no state-owned background investors. According to publicly available information, after this round of financing, the only large-scale model companies in China valued at 30 billion yuan are MiniMax and Zhipu. On the technological front, MiniMax recently launched an open-source inference model, MiniMax-M1. This model uses the Apache 2.0 license agreement, allowing for open-source code. The company claims that its performance is superior to the latest version of DeepSeek and consumes less computing power. In addition, in the field of multimodal technology, MiniMax's video generation model, Hailuo 02, supports native 1080P high-definition video output. It demonstrates strong spatiotemporal consistency and physical logic in complex scenes such as gymnasts flipping and circus performers breathing fire, securing second place in the international authoritative evaluation list Artificial Analysis Video Arena, surpassing competitors such as Google's Veo 3 and Kuaishou's Kling.