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Soon Chye
03-02

Be careful with company that steal others product

https://www.anthropic.com/news/detecting-and-preventing-distillation-attacks

MiniMax Posts FY2025 Gross Profit up 437.2% to USD 20.1 Million

MiniMax posts FY2025 gross profit up 437.2% to USD 20.1 million MiniMax reported FY2025 total revenue of USD 79.0 million, up 158.9%, with more than 70% derived from international market

MiniMax Posts FY2025 Gross Profit up 437.2% to USD 20.1 Million

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Cash balance was USD 1.1 billion as of December 31, 2025. </p><p>By segment, revenue from AI-native products was USD 53.1 million (up 143.4%), and revenue from the Open Platform and other AI-based enterprise services was USD 26.0 million (up 197.8%). </p><p>Selling and distribution expenses were USD 51.9 million (down 40.3%), administrative expenses were USD 36.8 million (up 155.9%), and R&amp;D expenses were USD 252.8 million (up 33.8%). For business updates, MiniMax said it built full-modality R&amp;D capabilities across language, video, speech and music, and continued upgrading its AI-native product portfolio, including MiniMax Agent, Hailuo AI, Talkie and Xingye, alongside its enterprise Open Platform. </p><p>In Q4 2025, it updated its M2, M2.1 and M2-her language models, and in February 2026 it released M2.5, which the company said improved coding efficiency by 37% versus M2.1; it also said average daily token consumption for M2-series text models in February 2026 grew to over six times December 2025 levels. In multimodal, MiniMax highlighted the October 2025 release of its Hailuo 2.3 video model and Speech 2.6 speech model, and said its video models had been used to generate more than 600 million videos and its speech model more than 200 million hours of speech cumulatively as of end-2025.</p><p></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>MiniMax Posts FY2025 Gross Profit up 437.2% to USD 20.1 Million</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMiniMax Posts FY2025 Gross Profit up 437.2% to USD 20.1 Million\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1032215980\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2026-03-02 18:08</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>MiniMax reported FY2025 total revenue of USD 79.0 million, up 158.9%, with more than 70% derived from international markets. </p><p>Gross profit was USD 20.1 million, up 437.2%, with gross margin at 25.4% (up 13.2 percentage points). </p><p>Adjusted net loss was USD 250.9 million. Cash balance was USD 1.1 billion as of December 31, 2025. </p><p>By segment, revenue from AI-native products was USD 53.1 million (up 143.4%), and revenue from the Open Platform and other AI-based enterprise services was USD 26.0 million (up 197.8%). </p><p>Selling and distribution expenses were USD 51.9 million (down 40.3%), administrative expenses were USD 36.8 million (up 155.9%), and R&amp;D expenses were USD 252.8 million (up 33.8%). For business updates, MiniMax said it built full-modality R&amp;D capabilities across language, video, speech and music, and continued upgrading its AI-native product portfolio, including MiniMax Agent, Hailuo AI, Talkie and Xingye, alongside its enterprise Open Platform. </p><p>In Q4 2025, it updated its M2, M2.1 and M2-her language models, and in February 2026 it released M2.5, which the company said improved coding efficiency by 37% versus M2.1; it also said average daily token consumption for M2-series text models in February 2026 grew to over six times December 2025 levels. In multimodal, MiniMax highlighted the October 2025 release of its Hailuo 2.3 video model and Speech 2.6 speech model, and said its video models had been used to generate more than 600 million videos and its speech model more than 200 million hours of speech cumulatively as of end-2025.</p><p></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK1117":"系统软件","00100":"MINIMAX-WP"},"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20260302:nNDL1xwYVK:1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2616380822","content_text":"MiniMax reported FY2025 total revenue of USD 79.0 million, up 158.9%, with more than 70% derived from international markets. Gross profit was USD 20.1 million, up 437.2%, with gross margin at 25.4% (up 13.2 percentage points). Adjusted net loss was USD 250.9 million. 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