MINIMAX-WP (00100) saw its shares rise more than 8%. At the time of writing, the stock was up 8.03%, trading at HK$794, with a turnover of HK$1.081 billion. The catalyst for the movement was the recent release of MiniMax's first annual results since its listing. The financial report revealed that the company achieved total revenue of $79.038 million in 2025, a significant increase of 158.9% year-on-year, with over 70% of revenue originating from international markets. Gross profit reached $20.079 million, surging 437.2% compared to the previous year. Notably, token volume has grown rapidly since 2026, with the average daily token consumption for the M2 series text models now more than six times the level of December 2025. The Annual Recurring Revenue (ARR) figure for February had already surpassed $150 million. Furthermore, MINIMAX-WP has received frequent positive coverage from institutions following its results. J.P. Morgan assigned MiniMax an "Overweight" rating, citing its rare combination of technical strength in AI foundational models, multi-modal commercial potential, and global scalability. Goldman Sachs stated that MiniMax remains one of the most advantaged companies in China's AI model industry. CICC expressed optimism that the company's text, video, and other models will continue to maintain a leading global position.
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