MiniMax Group, the Shanghai-based AI company behind products like Talkie and Hailuo AI, is making its move toward a second public listing. This time on home turf.
The company filed an A-share listing guidance report with the Shanghai Securities Regulatory Bureau on May 29, with CITIC Securities serving as its advisory institution. The target venue is the STAR Market, Shanghai’s tech-focused exchange platform that functions as China’s answer to Nasdaq.
From Hong Kong debut to mainland ambitions
The company went public in Hong Kong back in January 2026, raising approximately $619 million in its IPO. Shares more than doubled on their first day of trading.
By late May 2026, MiniMax’s stock had climbed roughly 400% from its IPO price, closing at HK$840 on May 29. That gives the company a market capitalization of approximately HK$263 billion, or about $33 billion. For a firm founded just four years ago, in January 2022, that’s the kind of growth curve that makes venture capitalists feel warm inside.
