Fastest Listed AI Company Born? MiniMax Holds Hearing at HKEX, Established in Less Than Four Years

On December 21st, MiniMax, the world's leading general artificial intelligence company, released for the first time the prospectus for its post-listing data collection version, which is expected to set a new record and become the AI company with the shortest time from establishment to IPO, marking a key step for Chinese power in the international capital market. Established in early 2022, MiniMax is a "born global" AI company dedicated to developing internationally competitive general models. Based on self-developed large models, MiniMax has successfully created an AI native product matrix covering both consumer and business ends, including Conch AI, Talkie, and Xingye, and providing open platform services for enterprise users and developers. As of September 30, 2025, MiniMax has over 212 million individual users from more than 200 countries and regions, as well as 130,000 enterprise customers from over 100 countries. Notably, its revenue for the first nine months of 2025 has grown by over 170% year-on-year, with overseas market revenue contributing over 70%, demonstrating excellent global market expansion capabilities and a healthy revenue structure. MiniMax has received investments and support from several top institutions such as MiHoYo, Alibaba, Tencent, Xiaohongshu, Hillhouse, IDG, Sequoia, Matrix Partners, GGV, and Yunqi, making it the fastest-growing and highest-valued AI technology company. As the global AGI race shifts from the "battle of the models" to a consolidation period, MiniMax, with its full-modal technology capabilities, proven global commercialization path, and efficient organization, is attracting significant attention in its listing process. With this Hong Kong IPO, MiniMax is poised to become not only a scarce target in the global AGI race but also a globally competitive leader in the AI industry.