{
  "schema_version": "5.0",
  "artifact_kind": "company_profile",
  "language": "zh-CN",
  "generated_on": "2026-11-04",
  "research_as_of": "2026-11-04",
  "input_context": {
    "name_zh": "MiniMax",
    "name_en": "MiniMax",
    "industry_level1": "互联网应用",
    "industry_level2": "AI应用",
    "official_website": "www.minimax.io",
    "company_type": "品牌方",
    "logo_url": "https://cdn.brandfetch.io/domain/www.minimax.io/w/256/h/256/fallback/lettermark/type/icon?c=1idH6DEOXL4sEn7V6hN"
  },
  "entity": {
    "name_zh": "MiniMax",
    "scope": "MiniMax Group Inc.及其并表子公司，重点为海外模型、应用与开发者服务",
    "source_ids": [
      "S01",
      "S02",
      "S03"
    ]
  },
  "basic_info": [
    {
      "key": "legal_name",
      "label": "法定主体或所属主体",
      "value": "MiniMax Group Inc.",
      "source_ids": [
        "S01"
      ]
    },
    {
      "key": "founded",
      "label": "成立时间",
      "value": "2021-06",
      "scope": "上市法人注册成立；品牌业务创立于2022年初",
      "source_ids": [
        "S01",
        "S03"
      ]
    },
    {
      "key": "headquarters",
      "label": "总部",
      "value": "中国上海",
      "source_ids": [
        "S01"
      ]
    },
    {
      "key": "listing",
      "label": "上市情况",
      "value": "香港交易所主板，0100；2026年1月9日上市",
      "source_ids": [
        "S01",
        "S02"
      ]
    },
    {
      "key": "employees",
      "label": "员工人数",
      "value": 568,
      "unit": "人",
      "as_of": "2026-06-30",
      "scope": "公司全职雇员",
      "source_ids": [
        "S02"
      ],
      "display": "568人"
    },
    {
      "key": "revenue",
      "label": "营业收入",
      "value": 79038,
      "unit": "千美元",
      "period": {
        "start": "2025-01-01",
        "end": "2025-12-31",
        "basis": "calendar_year"
      },
      "scope": "集团合并",
      "source_ids": [
        "S01"
      ],
      "display": "79,038,000美元"
    },
    {
      "key": "current_year_revenue",
      "label": "今年营业收入",
      "value": 116573,
      "unit": "千美元",
      "period": {
        "start": "2026-01-01",
        "end": "2026-06-30",
        "basis": "calendar_year"
      },
      "scope": "集团合并，未经审计",
      "statement_date": "2026-08-26",
      "source_ids": [
        "S02"
      ],
      "display": "116,573,000美元"
    },
    {
      "key": "international_revenue",
      "label": "国际业务收入",
      "value": 57663,
      "unit": "千美元",
      "period": {
        "start": "2025-01-01",
        "end": "2025-12-31",
        "basis": "calendar_year"
      },
      "scope": "按客户所在地：中国大陆以外",
      "source_ids": [
        "S01"
      ],
      "display": "57,663,000美元"
    },
    {
      "key": "international_revenue_share",
      "label": "国际收入占比",
      "value": 72.96,
      "unit": "%",
      "period": {
        "start": "2025-01-01",
        "end": "2025-12-31",
        "basis": "calendar_year"
      },
      "scope": "计算值",
      "source_ids": [
        "S01"
      ],
      "display": "72.96%"
    },
    {
      "key": "sales_coverage",
      "label": "销售覆盖国家及地区",
      "value": [
        "新加坡",
        "英国",
        "德国",
        "美国",
        "澳大利亚"
      ],
      "scope": "Talkie Lab应用分发与内购",
      "source_ids": [
        "S15",
        "S16",
        "S17",
        "S18",
        "S19"
      ],
      "display": "新加坡、英国、德国、美国、澳大利亚"
    }
  ],
  "overview": {
    "paragraphs": [
      {
        "text": "MiniMax 是一家研发通用 AI 基础模型并经营 AI 原生应用的科技公司，主要服务个人用户、内容创作者、企业和开发者。其技术覆盖语言理解、智能体执行、视频、语音与音乐生成，商业化同时通过自有应用和云端模型调用展开。",
        "source_ids": [
          "S01",
          "S03",
          "S04"
        ]
      },
      {
        "text": "集团上市法人于2021年6月在开曼注册，公司将品牌业务的创立时间表述为2022年初，总部位于上海。境内子公司承担模型研发和平台运营，新加坡子公司参与开放平台及应用运营；集团于2026年1月在香港上市。",
        "source_ids": [
          "S01",
          "S03"
        ]
      },
      {
        "text": "2026年上半年，开放平台及其他 AI 企业服务已成为主要收入来源，AI 原生应用继续带来消费端收入。集团同时发展编码与办公智能体、创作工作台及互动娱乐应用，将基础模型能力转化为可直接使用的软件和企业集成能力。",
        "source_ids": [
          "S02",
          "S03",
          "S13"
        ]
      }
    ]
  },
  "business": {
    "paragraphs": [
      {
        "text": "MiniMax 的海外供给包括可下载模型、面向个人与团队的 AI 软件，以及企业和开发者的托管 API。主品牌应用涵盖 MiniMax Code、MiniMax Design 和 MiniMax Audio；Hailuo AI 面向视听创作，Talkie 面向 AI 互动与内容体验。",
        "source_ids": [
          "S03",
          "S04",
          "S07",
          "S12",
          "S14",
          "S25"
        ]
      }
    ],
    "brands": [
      {
        "name": "MiniMax",
        "description": "集团主品牌，承载基础模型、生产力及创作应用，并向开发者和企业提供模型服务。",
        "source_ids": [
          "S03",
          "S04"
        ],
        "website": "https://www.minimax.io/",
        "industries": [
          {
            "level1": "互联网应用",
            "level2": "AI应用"
          }
        ],
        "products": [
          {
            "category": "开放权重模型",
            "series": [],
            "representative_products": [
              {
                "name": "MiniMax M3.1 Flash",
                "website": null
              },
              {
                "name": "MiniMax M3",
                "website": null
              },
              {
                "name": "MiniMax H3",
                "website": null
              },
              {
                "name": "MiniMax Music 3",
                "website": null
              }
            ],
            "description": "提供语言与多模态理解、视听及音乐生成模型，支持本地部署与开发。H3 开放权重许可暂不覆盖欧盟、英国、美国及韩国，相关组织可申请单独许可；H3 与 Music 3 的相关商用产品年收入超过2,000万美元须另获书面授权。",
            "source_ids": [
              "S08",
              "S09",
              "S10",
              "S11",
              "S25",
              "S26"
            ],
            "website": "https://huggingface.co/MiniMaxAI"
          },
          {
            "category": "AI 应用软件",
            "series": [],
            "representative_products": [
              {
                "name": "MiniMax Code",
                "website": null
              },
              {
                "name": "MiniMax Design",
                "website": null
              },
              {
                "name": "MiniMax Audio",
                "website": null
              }
            ],
            "description": "MiniMax Code（早期名 MiniMax Agent）支持编码及多步骤智能体任务，并可创建持续运行的 Mini App；Design 将脚本、画面、声音和剪辑串联为桌面创作流程；Audio 提供语音与音乐生成。应用面向效率工作、品牌内容和个人创作。",
            "source_ids": [
              "S03",
              "S04",
              "S12",
              "S13",
              "S21",
              "S27",
              "S05",
              "S28"
            ],
            "website": "https://www.minimax.io/about"
          }
        ],
        "services": [
          {
            "name": "开放平台模型 API",
            "description": "面向开发者和企业提供语言及多模态推理、视频生成、语音合成和声音克隆等托管调用，可按量付费或使用适用套餐。音乐及歌词生成 API 自2026年8月20日起停止向新用户开放，已有付费用户可继续使用。",
            "source_ids": [
              "S05",
              "S12",
              "S23"
            ],
            "website": "https://platform.minimax.io/docs/guides/models-intro"
          },
          {
            "name": "MiniMax Design 企业内容制作与部署",
            "description": "面向品牌及工作室提供批量图像、视频和音频内容制作，包含定制 Skills、指定客户支持与本地部署，可通过企业入口洽询。",
            "source_ids": [
              "S13"
            ],
            "website": "https://design.minimax.io/"
          }
        ]
      },
      {
        "name": "Hailuo AI",
        "description": "集团旗下视听创作应用品牌，以国际站向创作者提供生成与编辑工具。",
        "source_ids": [
          "S01",
          "S02",
          "S07",
          "S09"
        ],
        "website": "https://hailuoai.video/",
        "industries": [
          {
            "level1": "互联网应用",
            "level2": "AI应用"
          }
        ],
        "products": [
          {
            "category": "AI 视听创作软件",
            "series": [],
            "representative_products": [
              {
                "name": "Hailuo AI",
                "website": null
              }
            ],
            "description": "以文本、图像及多模态素材生成视频，支持参考素材控制与内容编辑，适用于广告、电商和创意短片。当前可在 Hailuo 国际站体验 H3 及相关创作流程。",
            "source_ids": [
              "S07",
              "S09"
            ],
            "website": "https://hailuoai.video/"
          }
        ],
        "services": []
      },
      {
        "name": "Talkie",
        "description": "集团旗下国际 AI 互动应用品牌，Talkie Lab 移动应用由新加坡全资子公司 SUBSUP PTE. LTD. 分发。",
        "source_ids": [
          "S01",
          "S03",
          "S14",
          "S15"
        ],
        "website": "https://www.talkie-ai.com/",
        "industries": [
          {
            "level1": "互联网应用",
            "level2": "AI应用"
          }
        ],
        "products": [
          {
            "category": "AI 互动与内容应用",
            "series": [],
            "representative_products": [
              {
                "name": "Talkie",
                "website": null
              },
              {
                "name": "Talkie Lab",
                "website": null
              }
            ],
            "description": "Talkie 网页端提供角色创建、探索及对话；Talkie Lab 的商店介绍覆盖 AI 助手和音频、图像、视频内容创作。应用通过会员及虚拟道具内购提供付费权益。",
            "source_ids": [
              "S14",
              "S15"
            ],
            "website": "https://www.talkie-ai.com/"
          }
        ],
        "services": []
      }
    ],
    "services": []
  },
  "global_presence": {
    "paragraphs": [
      {
        "text": "MiniMax 通过国际网页、桌面应用、应用商店和开放平台向海外用户供给产品。Talkie Lab 已在新加坡、英国、德国、美国及澳大利亚商店提供下载和本地内购；集团的模型调用与自有应用构成两条面向海外用户的商业路径。",
        "source_ids": [
          "S03",
          "S05",
          "S15",
          "S16",
          "S17",
          "S18",
          "S19"
        ]
      },
      {
        "text": "集团总部和中国主要营业地点位于上海；年报列示的新加坡子公司承担应用及开放平台运营。公司还在日本推进模型与 IP 生态合作，2026年9月介绍 H3 IP Edition 方案，具体 IP 的可用范围依合作方条款确定。",
        "source_ids": [
          "S01",
          "S20"
        ]
      }
    ],
    "market_regions": [
      {
        "region": "亚洲",
        "countries": [
          "新加坡"
        ],
        "coverage": "partial",
        "source_ids": [
          "S19"
        ]
      },
      {
        "region": "欧洲",
        "countries": [
          "英国",
          "德国"
        ],
        "coverage": "partial",
        "source_ids": [
          "S16",
          "S17"
        ]
      },
      {
        "region": "非洲",
        "countries": [
          "-"
        ],
        "coverage": "partial",
        "source_ids": []
      },
      {
        "region": "北美洲",
        "countries": [
          "美国"
        ],
        "coverage": "partial",
        "source_ids": [
          "S15"
        ]
      },
      {
        "region": "南美洲",
        "countries": [
          "-"
        ],
        "coverage": "partial",
        "source_ids": []
      },
      {
        "region": "大洋洲",
        "countries": [
          "澳大利亚"
        ],
        "coverage": "partial",
        "source_ids": [
          "S18"
        ]
      }
    ],
    "operating_regions": [
      {
        "region": "亚洲",
        "countries": [
          "中国"
        ],
        "coverage": "partial",
        "source_ids": [
          "S01"
        ]
      },
      {
        "region": "欧洲",
        "countries": [
          "-"
        ],
        "coverage": "partial",
        "source_ids": []
      },
      {
        "region": "非洲",
        "countries": [
          "-"
        ],
        "coverage": "partial",
        "source_ids": []
      },
      {
        "region": "北美洲",
        "countries": [
          "-"
        ],
        "coverage": "partial",
        "source_ids": []
      },
      {
        "region": "南美洲",
        "countries": [
          "-"
        ],
        "coverage": "partial",
        "source_ids": []
      },
      {
        "region": "大洋洲",
        "countries": [
          "-"
        ],
        "coverage": "partial",
        "source_ids": []
      }
    ]
  },
  "developments": {
    "window": {
      "start": "2025-11-04",
      "end": "2026-11-04",
      "max_items": 5
    },
    "items": [
      {
        "id": "D01",
        "title": "MiniMax Code 推出持续运行的 Mini App",
        "importance": "major",
        "display_date": "2026-10-22",
        "summary": "MiniMax 在 Code 桌面端推出 Mini App，发布运行时、创建工具和插件市场首批应用。新功能允许前后端持续运行、保存数据并与智能体双向调用，使用户能够将对话产出的工具变成可持续使用的应用。",
        "status": "completed_per_company_statement",
        "source_ids": [
          "S21"
        ]
      },
      {
        "id": "D02",
        "title": "M3.1 Flash 经 API、M Plan 和 Code 开放",
        "importance": "major",
        "display_date": "2026-10-19",
        "summary": "MiniMax 发布 M3.1 Flash，覆盖编码、多步骤智能体、电脑操作与网络安全任务，并通过 API、M Plan 和 Code 提供。公司称智能体任务总体使用成本较前代下降70%；截至研究日，官方模型库亦已提供本地部署入口。",
        "status": "completed_per_company_statement",
        "source_ids": [
          "S06",
          "S25"
        ]
      },
      {
        "id": "D03",
        "title": "MiniMax 与 KAGAMIAI 在日本推进 IP 授权创作方案",
        "importance": "major",
        "display_date": "2026-09-11",
        "summary": "MiniMax 与 KAGAMIAI 在东京举行 IP 共创大会，介绍 H3 IP Edition 与 Kagami Gate 的结合，将授权素材、生成规则、商业条款及使用报告纳入创作流程。公司称60多家企业表达采用意向，具体 IP 开放仍依合作方条款。",
        "status": "announced",
        "source_ids": [
          "S20"
        ]
      },
      {
        "id": "D04",
        "title": "上半年中国大陆以外收入增长，平台服务成为主要收入来源",
        "importance": "major",
        "display_date": "2026-08-26",
        "summary": "MiniMax 公布上半年中国大陆以外收入7,082.8万美元，上年同期为2,185.8万美元，占总收入60.8%。同期开放平台及其他 AI 企业服务收入占比升至63.4%，公司将增长归因于付费用户、API 调用量和 Token Plan 采用增加。",
        "status": "reported",
        "source_ids": [
          "S02"
        ]
      },
      {
        "id": "D05",
        "title": "H3 上线国际创作渠道并扩展开放权重生态",
        "importance": "major",
        "display_date": "2026-07-31",
        "summary": "MiniMax 发布 H3，多模态素材可共同控制带原生声音的视频生成，并提供 Hailuo 国际站体验。发布时计划随后开放权重；截至研究日官方已提供本地模型，但开放权重许可暂不覆盖欧盟、英国、美国及韩国。",
        "status": "completed_per_company_statement",
        "source_ids": [
          "S07",
          "S08",
          "S09"
        ]
      }
    ]
  },
  "sources": [
    {
      "id": "S01",
      "title": "MiniMax Group Inc. 2025 年报",
      "url": "https://www1.hkexnews.hk/listedco/listconews/sehk/2026/0422/2026042202118.pdf",
      "type": "regulatory",
      "accessed_on": "2026-11-04",
      "published_at": "2026-04-22",
      "report_period": "2025-01-01至2025-12-31",
      "evidence_pages": [
        4,
        5,
        6,
        7,
        9,
        13,
        109,
        130
      ]
    },
    {
      "id": "S02",
      "title": "MiniMax 2026 年中期业绩公告",
      "url": "https://file.cdn.minimax.io/public/586c7995-cab1-41b5-9178-c06685b32c88.pdf",
      "type": "official_report",
      "accessed_on": "2026-11-04",
      "published_at": "2026-08-26",
      "report_period": "2026-01-01至2026-06-30",
      "evidence_pages": [
        1,
        2,
        5,
        9,
        21
      ]
    },
    {
      "id": "S03",
      "title": "About MiniMax",
      "url": "https://www.minimax.io/about",
      "type": "official",
      "accessed_on": "2026-11-04"
    },
    {
      "id": "S04",
      "title": "MiniMax 官网产品与模型目录",
      "url": "https://www.minimax.io/",
      "type": "official",
      "accessed_on": "2026-11-04"
    },
    {
      "id": "S05",
      "title": "MiniMax API Pricing Overview",
      "url": "https://platform.minimax.io/docs/pricing/overview",
      "type": "official",
      "accessed_on": "2026-11-04"
    },
    {
      "id": "S06",
      "title": "MiniMax M3.1 Flash: Redefining Agent Performance and Cost",
      "url": "https://www.minimax.io/blog/minimax-m31f",
      "type": "official_news",
      "accessed_on": "2026-11-04",
      "published_at": "2026-10-19"
    },
    {
      "id": "S07",
      "title": "MiniMax H3: An Open Model Breaking the Boundaries Between Tasks and Modalities",
      "url": "https://www.minimax.io/blog/minimax-h3",
      "type": "official_news",
      "accessed_on": "2026-11-04",
      "published_at": "2026-07-31"
    },
    {
      "id": "S08",
      "title": "MiniMax H3 Open：部署、工作流及许可问答",
      "url": "https://design.minimax.io/h3",
      "type": "official",
      "accessed_on": "2026-11-04"
    },
    {
      "id": "S09",
      "title": "MiniMax 官方 H3 模型卡",
      "url": "https://huggingface.co/MiniMaxAI/MiniMax-H3",
      "type": "official",
      "accessed_on": "2026-11-04"
    },
    {
      "id": "S10",
      "title": "MiniMax 官方 Music 3 模型卡",
      "url": "https://huggingface.co/MiniMaxAI/MiniMax-Music3",
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