Congratulations to Yunqi Capital portfolio company *MiniMax* on its successful listing on the Hong Kong Stock Exchange! | Yunqi Capital

On January 9, 2026, MiniMax officially listed on the Main Board of the Hong Kong Stock Exchange under ticker 00100.HK. The IPO price was HK$165, with the opening price at HK$235.4 — up 42.6% from the offering price and surging over 80% intraday. Shares closed at HK$345, a 109.09% gain, pushing market cap past 100 billion HKD.

From launch to IPO, MiniMax took just four years, setting a new global record for the fastest AI company listing.Yunqi Capital was the only early-stage focused institution in MiniMax's Series A round. Over the past four years, we watched the company grow from an ambitious vision into an industry leader at the forefront of the AI wave.

Yunqi Capital Managing Partner Yu Chen (left), MiniMax Founder and CEO Junjie Yan (center)

Our sincere congratulations to MiniMax on reaching this new milestone! With the team's continued efforts, the listing is only the beginning of the next phase — the road ahead is wide open and full of promise.

Tech investing is a long-distance run, and there's always more to look forward to. As an early-stage fund focused on technology for 11 years, many of Yunqi's portfolio companies — including Manycore Tech, PingCAP, DeepRoute.ai, XTransfer, Keenon Robotics, Container xChange, and DeFeng Technology — are also approaching important milestones in their own marathon of innovation.

We keep running, and look forward to witnessing more breakthroughs alongside fellow innovators!