https://www.scmp.com/rss/521749/feed The latest news and top stories on Yan Junjie. As CEO of MiniMax, an AI unicorn he founded in December 2021, Yan Junjie leads the development of advanced AI foundational and multimodal models. With over a decade in AI research and development, including a background as a former Vice President at SenseTime, his expertise lies in deep learning and AI infrastructure. Under his leadership, MiniMax has launched successful products like the AI companion app Talkie and the video generator Hailuo AI,... en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Iris Deng Iris Deng Yang Zhilin, founder of fast-rising start-up Moonshot AI, has become the latest artificial intelligence entrepreneur to meet Chinese Premier Li Qiang, as Beijing steps up its push to accelerate the digital transformation of manufacturing. The 32-year-old was among a select group of business leaders and experts invited to a high-level symposium on Friday, where participants offered views on China’s economic resilience and future growth drivers. Li acknowledged that the external environment had... https://www.scmp.com/tech/article/3349707/chinas-li-qiang-urges-faster-industrial-ai-adoption-meeting-moonshot-ai-founder?utm_source=rss_feed https://www.scmp.com/tech/article/3349707/chinas-li-qiang-urges-faster-industrial-ai-adoption-meeting-moonshot-ai-founder?utm_source=rss_feed Fri, 10 Apr 2026 15:30:08 +0000 Vincent Chow Vincent Chow Chinese artificial intelligence start-ups Zhipu AI and MiniMax have shown early signs of sustainable commercialisation of their AI models, analysts said, as investors continue to pump up their Hong Kong stocks despite widening losses. That assessment comes as the companies reported their first earnings since their respective initial public offerings in early January, providing a glimpse into the business models of an industry still in its infancy globally. The South China Morning Post takes a... https://www.scmp.com/tech/tech-trends/article/3348699/what-zhipu-and-minimaxs-first-post-ipo-earnings-say-about-2-chinese-ai-start-ups?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3348699/what-zhipu-and-minimaxs-first-post-ipo-earnings-say-about-2-chinese-ai-start-ups?utm_source=rss_feed Thu, 02 Apr 2026 02:00:09 +0000 Vincent Chow Vincent Chow Chinese artificial intelligence (AI) company MiniMax has released a new model “designed for real-world productivity”, hot on the heels of new releases from its domestic rivals in a frenetic week for China’s AI industry. The update to its M2 large language model comes as investor interest in smaller Chinese AI companies hits new heights, with global investors looking to capitalise on China’s rapid progress in AI beyond the traditional tech giants. Citing in-house benchmark scores, MiniMax said on... https://www.scmp.com/tech/article/3343395/chinas-minimax-releases-cheap-ai-model-designed-real-world-productivity?utm_source=rss_feed https://www.scmp.com/tech/article/3343395/chinas-minimax-releases-cheap-ai-model-designed-real-world-productivity?utm_source=rss_feed Fri, 13 Feb 2026 02:11:32 +0000 Vincent Chow,Xinyi Wu Vincent Chow,Xinyi Wu The CEO of Chinese artificial intelligence company MiniMax met Premier Li Qiang on Monday, becoming the second representative from a foundational AI model developer to meet with the national leader after Liang Wenfeng, founder of DeepSeek, a year ago. The appearance of 36-year-old Yan Junjie along with eight other leading figures from China’s business, culture and education spheres underscored the rapid ascent of the newly minted billionaire, who steered his company founded just four years ago... https://www.scmp.com/tech/policy/article/3340515/china-signals-global-ai-push-minimax-ceo-joins-meeting-premier-li-qiang?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3340515/china-signals-global-ai-push-minimax-ceo-joins-meeting-premier-li-qiang?utm_source=rss_feed Tue, 20 Jan 2026 06:17:18 +0000 Eunice Xu Eunice Xu The red-hot Hong Kong initial public offerings (IPOs) of Zhipu AI and MiniMax Group, two of China’s hopefuls to take on US giants like OpenAI and Anthropic, have given a boost to Beijing’s ambitions in the artificial intelligence sector, according to executives and industry watchers. While Zhipu’s valuation of about US$9 billion and MiniMax’s market cap of US$14 billion remain tiny compared with the US giants – OpenAI is worth about US$500 billion and Anthropic’s valuation is estimated at about... https://www.scmp.com/tech/tech-trends/article/3339301/minimax-and-zhipus-stellar-hong-kong-ipos-supercharge-chinas-ai-ambitions?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3339301/minimax-and-zhipus-stellar-hong-kong-ipos-supercharge-chinas-ai-ambitions?utm_source=rss_feed Fri, 09 Jan 2026 09:00:09 +0000 Aileen Chuang Aileen Chuang Shares of Chinese artificial intelligence start-up MiniMax Group surged on their Hong Kong debut on Friday, reflecting investor confidence after securing substantial support from global institutional backers. The company’s shares first changed hands at HK$235.40, up 42.7 per cent from the initial public offering (IPO) price of HK$165. The stock surged as much as 113.2 per cent to HK$351.80 before ending the day 109.1 per cent higher at HK$345, valuing it at HK$106.7 billion (US$13.7... https://www.scmp.com/business/banking-finance/article/3339251/chinese-ai-start-minimax-shines-hong-kong-ipo-debut?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3339251/chinese-ai-start-minimax-shines-hong-kong-ipo-debut?utm_source=rss_feed Fri, 09 Jan 2026 01:59:41 +0000 Aileen Chuang Aileen Chuang MiniMax is set to raise at least HK$4.2 billion (US$537.7 million) by pricing its Hong Kong initial public offering (IPO) at the top of its marketed range, underscoring strong demand for China’s artificial intelligence sector amid an intensifying race with the US. The Shanghai-based firm, backed by Alibaba Group Holding and Tencent Holdings, planned to price its 25.4 million shares on offer at HK$165 each, according to people familiar with the matter. The company would stop taking orders from... https://www.scmp.com/business/banking-finance/article/3338766/minimaxs-hong-kong-ipo-set-hit-us538-million-amid-chinese-ai-sector-frenzy?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3338766/minimaxs-hong-kong-ipo-set-hit-us538-million-amid-chinese-ai-sector-frenzy?utm_source=rss_feed Mon, 05 Jan 2026 08:39:32 +0000 Yulu Ao Yulu Ao Chinese generative artificial intelligence start-up MiniMax Group has kicked off its Hong Kong initial public offering (IPO), seeking to raise up to HK$4.19 billion (US$538 million) to support its growth as competition intensifies in China’s fast-moving AI sector. The Shanghai-based company would offer 25.39 million shares globally, with about 5 per cent allocated to Hong Kong retail investors and the rest to international investors, according to a stock exchange filing on Wednesday. Shares were... https://www.scmp.com/business/china-business/article/3338239/china-ai-start-minimax-kicks-us538-million-hong-kong-ipo?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3338239/china-ai-start-minimax-kicks-us538-million-hong-kong-ipo?utm_source=rss_feed Wed, 31 Dec 2025 03:20:16 +0000 Vincent Chow Vincent Chow Chinese start-ups Zhipu AI and MiniMax have released new flagship artificial intelligence models within hours of each other, as they vie to become the world’s leading open-source AI systems supplier. The near-simultaneous release by two of China’s “AI tigers” underscored efforts to drum up interest for their respective initial public offerings in Hong Kong, after both companies passed crucial regulatory hearings over the weekend. Beijing-based Zhipu AI, known internationally as Z.ai, on Monday... https://www.scmp.com/tech/tech-trends/article/3337516/chinese-start-ups-zhipu-and-minimax-release-latest-ai-models-ahead-hong-kong-listing?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3337516/chinese-start-ups-zhipu-and-minimax-release-latest-ai-models-ahead-hong-kong-listing?utm_source=rss_feed Tue, 23 Dec 2025 12:00:14 +0000 Coco Feng Coco Feng Chinese fintech giant Ant Group has pressed ahead with its strategic move into the fast-growing healthcare sector with a major upgrade to its artificial intelligence health app AQ, positioning the platform to work like a fitness companion or a family doctor. The new features included integration of records from smart devices made by Apple, Huawei and Omron, among others, as well as the creation of health profiles for family members, the company announced on Monday. Ant is the fintech affiliate... https://www.scmp.com/tech/article/3336524/chinese-fintech-giant-ant-upgrades-ai-health-app-tap-booming-eldercare-wellness-demand?utm_source=rss_feed https://www.scmp.com/tech/article/3336524/chinese-fintech-giant-ant-upgrades-ai-health-app-tap-booming-eldercare-wellness-demand?utm_source=rss_feed Tue, 16 Dec 2025 00:00:15 +0000 Aileen Chuang Aileen Chuang Chinese artificial intelligence start-up MiniMax plans to channel funds from its proposed Hong Kong initial public offering (IPO) into research and development as it seeks to compete with global and domestic rivals, according to a person familiar with the matter. With 70 per cent of its revenue generated overseas, MiniMax was targeting Hong Kong’s international investor base and capital market, the person said. The Shanghai-based firm, backed by Alibaba Group Holding and Tencent Holdings, was... https://www.scmp.com/business/banking-finance/article/3336146/chinas-generative-ai-tiger-minimax-pursues-hong-kong-ipo-expand-global-reach?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3336146/chinas-generative-ai-tiger-minimax-pursues-hong-kong-ipo-expand-global-reach?utm_source=rss_feed Fri, 12 Dec 2025 03:06:44 +0000 Ben Jiang Ben Jiang Chinese artificial intelligence start-ups Moonshot AI and MiniMax have emerged as China’s strongest contenders to rival US frontier labs in 2025 – even as DeepSeek has stolen the spotlight as the poster child for the country’s AI ambitions. Moonshot AI, founded by 33-year-old Yang Zhilin, has sharply raised its profile in China’s AI ecosystem with the launch earlier this month of Kimi K2 Thinking, an upgraded reasoning model. The system outperformed OpenAI’s GPT-5 and Anthropic’s Claude Sonnet... https://www.scmp.com/tech/big-tech/article/3334602/beyond-deepseek-moonshot-and-minimax-step-chinas-new-frontier-ai-labs?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3334602/beyond-deepseek-moonshot-and-minimax-step-chinas-new-frontier-ai-labs?utm_source=rss_feed Sun, 30 Nov 2025 01:00:19 +0000 Wency Chen Wency Chen Chinese fintech firm Ant Group, an affiliate of Alibaba Group Holding, has picked healthcare as a new artificial intelligence-driven business pillar, as it seeks growth in China’s rapidly ageing society, according to CEO Cyril Han Xinyi. The group, which owns and operates the payment service Alipay, has been struggling to find new areas for growth after Beijing imposed regulatory requirements on its consumer-credit businesses. Ant has also restructured to run independently from Alibaba, with... https://www.scmp.com/tech/big-tech/article/3331946/ant-group-picks-ai-assisted-healthcare-new-growth-area-amid-chinas-rapid-ageing?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3331946/ant-group-picks-ai-assisted-healthcare-new-growth-area-amid-chinas-rapid-ageing?utm_source=rss_feed Fri, 07 Nov 2025 10:00:20 +0000 Cao Li Cao Li Pop Mart said it would be able to easily double this year’s revenue from its 2024 record sales, as it prepares to launch a mini version of the Labubu plush toy to extend its phenomenal success and conquer more hearts beyond mainland China. The company, founded in 2010 in Beijing, could double its 2025 revenue to 30 billion yuan (US$4.2 billion) from last year’s sales of 13 billion yuan, said Pop Mart’s founder and CEO Wang Ning, citing the bigger-than-imagined worldwide market for its plush toys... https://www.scmp.com/business/china-business/article/3322488/mini-labubus-are-coming-after-your-mobile-phone-pop-mart-aims-double-2025-sales?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3322488/mini-labubus-are-coming-after-your-mobile-phone-pop-mart-aims-double-2025-sales?utm_source=rss_feed Wed, 20 Aug 2025 07:18:13 +0000 Ann Cao,Wency Chen Ann Cao,Wency Chen Shanghai will host its eighth annual flagship artificial intelligence (AI) conference this weekend as China ramps up competition against the US for supremacy in the fast-developing technology. The three-day World Artificial Intelligence Conference (WAIC), with the theme of “Global Solidarity in the AI Era”, will kick off on Saturday with an opening keynote from Premier Li Qiang, who also headlined last year’s event. A high-level meeting on global AI governance will be held in tandem with the... https://www.scmp.com/tech/big-tech/article/3319607/shanghai-conference-sets-stage-us-china-face-heated-race-ai-supremacy?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3319607/shanghai-conference-sets-stage-us-china-face-heated-race-ai-supremacy?utm_source=rss_feed Fri, 25 Jul 2025 10:00:16 +0000 Julie Zhang Julie Zhang MiniMax, the artificial intelligence (AI) start-up backed by two of China’s largest technology conglomerates, has confidentially applied for a Hong Kong initial public offering (IPO), according to people familiar with the matter. China International Capital Corporation and UBS are the sponsors for the listing, according to the sources, who declined to be identified for discussing a confidential matter. MiniMax aimed to raise between HK$4 billion and HK$5 billion (US$510 million to US$637... https://www.scmp.com/business/banking-finance/article/3318485/minimax-world-class-ai-start-lauded-jensen-huang-applies-hong-kong-ipo?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3318485/minimax-world-class-ai-start-lauded-jensen-huang-applies-hong-kong-ipo?utm_source=rss_feed Wed, 16 Jul 2025 13:02:22 +0000