On June 1, MINIMAX-WP rose 3.39% in regular trading, trading at HK$866.0/share, with trading volume of HK$248 million. The rise was driven by news that MiniMax has formally initiated its A-share IPO process targeting the Science and Technology Innovation Board (STAR Market).

According to regulatory filings, MiniMax signed a tutoring agreement with CITIC Securities on May 29, officially commencing the A-share listing process. The company's board confirmed its decision to explore issuing RMB-denominated shares and has engaged professional advisors on STAR Market listing requirements. If successful, MiniMax would achieve a dual Shanghai-Hong Kong listing, further broadening its financing channels and connecting with mainland capital markets.

In addition, the company launched the MiniMax M3 model today. Latest business data disclosed on May 28 shows annualized recurring revenue grew over 100% in the past two months, with global enterprise and developer clients surpassing one million — a fivefold increase from six months prior — and approximately 300 million global users.

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