Autonomous driving technology company MiniMax Group Inc. (0100.HK) reported on Monday its revenue surged 158.9% last year to $79.04 million, as its loss ballooned 302% to $1.87 billion.
The sharp loss increase was due to non-operational factors, primarily from losses in the fair value of MiniMax’s financial liabilities, which jumped to $1.59 billion last year from $214 million in 2024. On a non-IFRS basis, which excludes such non-operational factors, the company lost $250 million last year, 2.7% wider than a year earlier.
MiniMax said it believes model intelligence will make significant advances in the coming year. In coding, it expects to see the emergence of L4 to L5 autonomous driving intelligence, shifting from AI as a tool to AI as a collaborative, colleague-level partner. Strategically, the company will pivot from being a large model specialist to a platform player in the AI era, deepening its commercialization roadmap and strengthening its foothold in global markets.
Shares of MiniMax opened higher and were up 17.8% at HK$886.50 on Tuesday by the midday trading break. The stock is up more than fivefold following its listing at the start of this year.
By Lau Chi Hang
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