Chinese artificial intelligence company MiniMax has begun preparations for an initial public offering on the Chinese mainland just months after its Hong Kong debut, setting the stage for a potential A-share rivalry with fellow large language model developer Zhipu AI.

Chinese AI model company hires Citic Securities to prepare a mainland share sale, with the listing venue yet to be confirmed.

MiniMax Group Inc., a Shanghai-based AI startup, is gearing up for a China listing following its Hong Kong IPO, intensifying competition with local AI players like DeepSeek.