MINIMAX-W (00100) opened nearly 5% higher, last trading up 4.95% at HK$318 with turnover reaching HK$128 million. The surge comes as MiniMax released its interim results, showing strong growth momentum across its business segments.
In the first half of this year, MiniMax's total revenue surged 283.1% year-on-year to approximately $120 million, with just six months of performance already reaching 1.5 times its full-year 2025 revenue. Notably, B-end revenue jumped 703.1% year-on-year to $73.9 million, with its share of total revenue climbing from 30.3% in the same period last year to 63.4%, making it the company's largest revenue source.
Benefiting from improved infrastructure and full-stack efficiency gains, MiniMax's gross profit continued to improve, rising 464.8% year-on-year to $20.81 million. During the 2026 interim results presentation on August 26, the company disclosed that its August annual recurring revenue (ARR) had exceeded $800 million, with second-quarter revenue growing 81.8% quarter-on-quarter from the first quarter.
Additionally, July token consumption reached 20 times the January level, while B-end business now contributes over 80% of total ARR. The company's accelerating growth trajectory highlights its successful transition toward enterprise-focused AI solutions.
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