MiniMax has completed a financing of 1.6 billion Hong Kong dollars. Yan Junjie, founder and CEO, announced in a company-wide letter that he will no longer receive a salary and will personally allocate 5% of company shares for team incentives and open source support.

On July 10th, MiniMax (00100) completed a new round of HK$16 billion financing. This transaction attracted several top international sovereign funds, long-term funds, leading Chinese institutions, and top multi-strategy funds, covering the Asia-Pacific, European, and American markets. More than 20 long-term and sovereign funds participated in the transaction, and many Pre-IPO companies and cornerstone investors further increased their holdings in MiniMax to express their support for the company's long-term development. According to the announcement, the company plans to use 80% of the net proceeds for further strengthening AI infrastructure and model research and development. On the same day, MiniMax's founder and CEO Yan Junjie issued an internal company-wide letter in response to recent market fluctuations and emphasized that the company's long-term direction remains unchanged. Yan Junjie announced in the letter that he will no longer receive any salary from the company starting from today until the day the company achieves AGI. Over the next four years, he will allocate 4% of the total share capital under his name to incentivize team members who work alongside him to create value; he will also allocate 1% of the shares to establish a special fund to continuously support the development of relevant open-source communities. The letter states that the team at the forefront of the industry understands the true speed of technological evolution better than anyone else, and they are aware of the long-term value the company is creating and accumulating. Yan Junjie will dedicate all his time, energy, and resources to this cause, calling it a "long-term commitment as a founder." The letter concluded with, "We will keep going until we get there. Intelligence with Everyone."