MiniMax Advances A-Share Listing as CITIC Files Second Tutoring Report
CITIC Securities published the second-phase tutoring progress report for MiniMax Group Inc.'s planned A-share IPO on October 15. Covering the tutoring period from July 10 to October 13, 2026, the report says full due diligence and tutoring sessions have been completed; MiniMax has established its internal governance structure and related systems, with room to improve execution. The next phase will focus on "tutoring acceptance preparation," putting the SI model company's A-share listing process into its later stage.
MiniMax signed its tutoring agreement with CITIC on May 29, 2026, to explore issuing RMB shares on the Shanghai Stock Exchange's STAR Market. The company was founded in Shanghai in early 2022 by Yan Junjie, a former SenseTime vice president. MiniMax already listed on the HKEX main board on January 9, 2026 (00100.HK) at HK$165 a share, closing up about 109% on debut — among the fastest founding-to-IPO runs of any SI company globally.
MiniMax reported first-half 2026 revenue of $117 million, up 283% year on year and already above its full-year 2025 total, with about 60% of revenue from overseas. (GSM, based on CITIC's tutoring report and public reports)
Published by GSM · USA (original Chinese edition)
Photo: 图：上海陆家嘴金融区。图片来源：Wikimedia Commons（CC BY-SA 4.0）。Photo: Shanghai's Lujiazui financial district. Source: Wikimedia Commons (CC BY-SA 4.0).
