MiniMax (00100.HK) completed a HK$16 billion financing. Founder and CEO Yan Junjie released a company-wide letter stating that he will no longer take a salary and will personally contribute 5% of the company's shares for team incentives and open source support.

According to the Wisdom Financial APP, on July 10th, MiniMax (00100.HK) completed a new round of financing of 16 billion Hong Kong dollars. This transaction attracted many top international sovereign funds, long-term funds, leading Chinese institutions, and top multi-strategy funds, covering the Asia-Pacific, European, and American markets. Among them, there are more than 20 long-term and sovereign funds, and many companies' pre-IPO and cornerstone investors also further increased their holdings in this transaction, expressing support for MiniMax'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.