MiniMax Files for China IPO as AI Startup Competition Intensifies

MiniMax Group Inc., a Shanghai-based AI startup, has begun preparations for a domestic listing in China after completing an initial public offering in Hong Kong in January 2026. The company joins a wave of Chinese AI firms turning to public markets to fund model development and expansion, positioning itself to compete with local rivals including DeepSeek.

MiniMax China IPO filing

• ▪MiniMax Group Inc. is based in Shanghai.
• ▪MiniMax Group Inc. has begun preparations for a domestic listing in China.

Hong Kong listing background

• ▪MiniMax Group Inc. joined a wave of Chinese AI firms turning to public markets to fund model development and expansion.
• ▪MiniMax Group Inc. completed an initial public offering in Hong Kong in January 2026.

AI startup competition

• ▪MiniMax Group Inc. is a fast-growing artificial intelligence startup.
• ▪MiniMax Group Inc. is challenging local rivals including DeepSeek.

1 source