MiniMax Group Inc. announced that Hong Kong Exchanges and Clearing Limited has approved its transition from a Pre-Commercial Company to a Commercial Company under Chapter 18C of the Listing Rules, following FY2025 revenue that met the HK$250.00 million threshold.

Key implications of the approval:

1. Stock marker removal and trading name change • The “P” marker, which denotes Pre-Commercial status, will be removed. • From 9:00 a.m. on 18 Mar 2026, Class A ordinary shares will trade under the new short name “MINIMAX-W” instead of “MINIMAX-WP”. • The stock code remains 0100; existing share certificates, board lot size, trading currency, and registrar arrangements are unchanged.

2. Updated lock-up expiries • Founders and close associates: 79.10 million shares (25.22 % of issued capital) remain restricted until 8 Jan 2027. • Other executive management: 12.39 million shares (3.94 %) locked until 8 Jan 2027. • Pathfinder SIIs (miHoYo affiliates): 17.93 million shares (5.72 %) locked until 8 Jul 2026. • IDG-related SIIs: 7.84 million shares (2.50 %) locked until 8 Jul 2026. • The above restrictions comply with Rule 18C.23 and voluntary undertakings disclosed in the prospectus.

3. Capital structure snapshot • Total shares in issue: 313.64 million, comprising 232.53 million Class A and 81.10 million Class B shares. • Weighted voting rights remain with the founders, Dr. Yan and Ms. Yun.

Management states that the upgrade to Commercial Company status reflects the Group’s revenue scale and eliminates the additional marker previously attached to its shares.