Last verified: August 13, 2026
The direct answer: The company behind MiniMax AI is MiniMax Group Inc. It is not a wholly owned subsidiary of Alibaba, Tencent, or another corporate parent. MiniMax Group Inc. is publicly traded, so its economic ownership is distributed among its shareholders. Founder, Chairman, CEO and CTO Dr. Yan Junjie is the principal controlling figure. Following a share placement completed on July 14, 2026, he beneficially held 79,102,534 shares, equal to 22.65% of the 349,235,308 shares then outstanding. His weighted-voting-rights shares give him substantially more voting power than that economic percentage suggests.
MiniMax is best described as a Chinese AI company headquartered in Shanghai. The listed parent is incorporated in the Cayman Islands, while its Class A shares trade in Hong Kong under stock code 0100. Those facts describe different layers of the same group; they are not contradictory.
This MiniMax AI company profile therefore separates economic ownership, voting control, country of origin, legal incorporation, headquarters, and listing venue instead of forcing them into one misleading label.
Independent-site notice: MiniMax-AI.chat is an independent informational website. It is not owned by, operated by, or affiliated with MiniMax Group Inc. Read more about this website and see the full disclaimer.
MiniMax AI company facts at a glance
| Question | Verified answer |
|---|---|
| What is the legal company name? | MiniMax Group Inc. |
| Who owns MiniMax AI? | Its public shareholders own the company economically. |
| Who controls MiniMax? | Dr. Yan Junjie is the principal controller through a weighted-voting-rights structure. |
| Who founded MiniMax? | Official HKEX filings identify Dr. Yan Junjie and Ms. Yun Yeyi as the founders. |
| Where is MiniMax from? | China; its headquarters and principal PRC place of business are in Shanghai. |
| Where is the parent incorporated? | The Cayman Islands, on June 30, 2021. |
| When was the business founded? | MiniMax says it was founded in early 2022. |
| Is MiniMax public? | Yes. Its Class A shares were listed on the Hong Kong Stock Exchange on January 9, 2026. |
| What is the stock code? | 0100; the Hong Kong stock short name was MINIMAX-W when this page was verified. |
| What does MiniMax build? | Multimodal foundation models and AI products for language, coding, agents, video, speech, and music. |
Who owns MiniMax AI? July 2026 ownership snapshot
The word “owner” can mean two different things for a listed company: economic ownership and voting control. MiniMax’s public shareholders own the economic interest represented by their shares. Voting control is different because the company has two share classes with unequal votes.
Economic ownership after the July 2026 placement
MiniMax’s official July 16, 2026 announcement reported the following structure immediately after the placement of 35,600,000 new Class A shares and before any conversion of the company’s newly issued convertible bonds:
| Shareholder category | Shares | Economic interest |
|---|---|---|
| Dr. Yan Junjie | 79,102,534 | 22.65% |
| New placement investors | 35,600,000 | 10.19% |
| Other shareholders | 234,532,774 | 67.16% |
| Total | 349,235,308 | 100% |
The “other shareholders” line is an aggregate category, not a list of every institution and individual. The placement investors were at least six independent placees, and the announcement stated that none became a substantial shareholder as a result of the placement.
The 349,235,308 issued shares comprised 268,132,774 Class A shares and 81,102,534 Class B shares. The July placement increased only the number of Class A shares; the number of Class B shares remained unchanged.
These figures are a dated corporate snapshot, not a permanent cap table. Public shareholders can trade Class A shares, companies can issue more shares, and disclosure thresholds do not reveal every small holding in real time. The percentages above should therefore be described as the position after the July 14, 2026 placement—not as live ownership percentages.
Voting control through Class B shares
MiniMax’s economic ownership percentages do not tell the full control story. The official listing prospectus defines a weighted-voting-rights, or WVR, structure:
| Share class | Votes per share | Publicly traded? |
|---|---|---|
| Class A ordinary share | One vote | Yes, on the Hong Kong Stock Exchange |
| Class B ordinary share | Ten votes | No; held through the founders’ qualifying WVR structures |
Yan Junjie and Yun Yeyi are the company’s WVR beneficiaries. Yan’s disclosed interest includes most of the outstanding Class B shares as well as Class A shares. On the disclosed share counts and WVR terms, he therefore retains majority voting control over ordinary shareholder decisions despite holding less than a majority of the company’s economic equity.
The ten-to-one voting rule does not apply to every decision. Certain reserved matters—including changes to the company’s constitutional documents or share-class rights, the appointment or removal of independent non-executive directors or auditors, and voluntary liquidation—must be decided on a one-share, one-vote basis.
Plain-English distinction: MiniMax’s shareholders own the company economically. Yan Junjie controls ordinary voting through WVR shares. Alibaba, Tencent, and other institutions are investors, not MiniMax’s parent company.
Is MiniMax owned by Alibaba or Tencent?
No. Alibaba and Tencent are documented MiniMax investors, but neither company is the corporate parent of MiniMax Group Inc. The prospectus identifies four “Sophisticated Independent Shareholders” and gives historical ownership figures from the listing-application process:
| Investor | Investment vehicle named in the prospectus | Historical filing snapshot |
|---|---|---|
| Alibaba Group | Alisoft China Holding Limited | 15.04% at the listing-application date |
| miHoYo-linked entities | miHoYo Limited and Shanghai Mihoyo Argo Technology Co., Ltd. | 7.05% at the listing-application date |
| IDG Capital-linked entities | Cosmic Station Limited and Seasonal Charm Limited | 3.08% at the first listing-application date |
| Tencent | Image Frame Investment (HK) Limited | 2.84% at the listing-application date |
Alisoft China is an indirect wholly owned subsidiary of Alibaba Group, while Image Frame is a wholly owned subsidiary of Tencent. That describes the investment vehicles—not ownership of MiniMax as a subsidiary. The prospectus specifically stated that Alisoft China had no involvement in MiniMax’s daily operations and management.
The same prospectus documents other pre-IPO investors connected with Hillhouse, HongShan/HSG, MPC, Shunwei/Astrend, Pacific Century Group, and Future Capital. The final IPO allocation also included cornerstone investors such as the Abu Dhabi Investment Authority, Alisoft China, Boyu, IDG Breyer, Mirae Asset Securities, and several asset managers. A pre-IPO or cornerstone investment proves that an investor participated at that time; it does not prove that the investor still holds the same percentage after the IPO, later issuance, lock-up expiry, and market trading.
Who founded MiniMax AI?
For a source-controlled answer, the official filings identify Dr. Yan Junjie and Ms. Yun Yeyi as MiniMax’s founders. A March 13, 2026 HKEX announcement explicitly describes both Yan and Yun as “our founders” and WVR beneficiaries. The prospectus separately calls Yan the founder and says Yun guided the business since she co-founded the group.
Dr. Yan Junjie: Founder, Chairman, CEO and CTO
Yan is MiniMax’s founder, Chairman of the Board, executive director, chief executive officer, and chief technology officer. He is responsible for overall management, business operations, strategy, major decisions, and AI research and development.
Before MiniMax, Yan worked at SenseTime for more than six years in roles including vice president and vice-head of its research institute. MiniMax’s official management profile says he earned a doctorate in artificial intelligence from the Institute of Automation at the Chinese Academy of Sciences and later conducted postdoctoral research at Tsinghua University.
Yun Yeyi: Co-founder, Executive Director and COO
Yun is an executive director and MiniMax’s chief operating officer. Her responsibilities include overall management, operations, product and commercialization strategy, and major business decisions. The prospectus credits her with helping shape MiniMax’s mission, research strategy, product development, commercialization, and global expansion from the company’s founding period.
Yun also worked at SenseTime before MiniMax. Her roles included fundraising and strategic investment manager, executive assistant to the CEO and head of strategy, and director of innovative business.
Why do some founder lists differ?
Some secondary databases and media profiles attach a broader “co-founder” label to additional early team members. For corporate accuracy, this page follows MiniMax’s own HKEX filings. Those filings expressly identify Yan and Yun as the founders. They list Zhou Yucong as an executive director and visual-model research leader who joined in March 2022, and Zhao Pengyu as an executive director and large-language-model research leader who joined in August 2023; the official filings used here do not label either as a founder.
What country is MiniMax AI from?
The clearest short answer is China. MiniMax’s headquarters, principal mainland business address, and core research-and-development subsidiaries are in Shanghai and Beijing. “Country,” however, can refer to business origin, incorporation, headquarters, or stock listing, so a complete answer needs four separate facts:
| Corporate layer | Place | What it means |
|---|---|---|
| Business identity | China | MiniMax is a Chinese-founded AI business with core operations in the PRC. |
| Headquarters | Shanghai, China | Its headquarters and principal PRC place of business are in Shanghai’s Xuhui District. |
| Listed parent incorporation | Cayman Islands | MiniMax Group Inc. is a Cayman-exempted company with limited liability. |
| Public listing | Hong Kong | Its Class A shares trade on the Hong Kong Stock Exchange. |
| Major operating entities | China, Singapore, and Hong Kong | The group uses wholly owned subsidiaries for R&D, AI products, and its Open Platform. |
Calling MiniMax only a “Cayman company” would describe its legal incorporation but obscure where the business is headquartered and developed. Calling it a “Hong Kong company” would confuse its listing venue and registered Hong Kong place of business with its jurisdiction of incorporation. Describing it as Singapore-owned would also be incorrect: Singapore subsidiaries form part of the operating group, but they do not own the listed parent.
Was MiniMax founded in 2021 or 2022?
MiniMax’s official About page says the company was founded in early 2022. The 2021 dates in corporate databases refer to legal entities established before the public launch of the operating business.
- June 30, 2021: the Cayman parent that is now MiniMax Group Inc. was incorporated.
- November 3, 2021: Shanghai Jizhi was incorporated in the PRC.
- November 18, 2021: Beijing Jizhi was incorporated in the PRC.
- January 1, 2022: the prospectus records Yan Junjie as joining the group.
- Early 2022: MiniMax uses this as its official founding period.
- April 2022: MiniMax launched its first text model, abab1.
The accurate formulation is therefore: MiniMax was founded as an operating AI company in early 2022, while its parent and early PRC entities were incorporated in 2021.
Is MiniMax AI a public company?
Yes. MiniMax Group Inc.’s Class A shares began trading on the Main Board of the Hong Kong Stock Exchange on January 9, 2026. The IPO issued 29,197,600 Class A shares at the historical offer price of HK$165 per share, and the over-allotment option for another 4,379,640 shares was exercised in full. The official stock code is 0100.
MiniMax initially traded under the short name MINIMAX-WP. After the exchange recognized it as a Commercial Company under the applicable listing rules, the “P” marker was removed and the short name became MINIMAX-W on March 18, 2026. This page does not reproduce a live share price; prices change and are not a reliable description of corporate ownership. Use the official HKEX quote page for live market data.
In May 2026, MiniMax announced that it was exploring a possible issue of RMB shares and a listing on Shanghai’s STAR Market. The official announcement calls this a preliminary proposal, subject to approvals, and warns that it may not materialize. MiniMax should not be described as Shanghai-listed unless a future completed listing is officially confirmed.
MiniMax’s corporate structure and global entities
The prospectus identified six major operating subsidiaries that materially contributed during its reporting period. All six were wholly owned by MiniMax Group Inc. The term “major operating subsidiaries” does not necessarily mean this is an exhaustive list of every legal or contracting entity in the group.
| Subsidiary | Jurisdiction | Incorporated | Principal role in the prospectus |
|---|---|---|---|
| Shanghai Jizhi | PRC | November 3, 2021 | R&D of foundation models and products |
| Beijing Jizhi | PRC | November 18, 2021 | R&D of foundation models and products |
| SUBSUP PTE. LTD. | Singapore | September 14, 2022 | Operation of AI-native products |
| Shanghai MiniMax | PRC | January 28, 2023 | Open Platform and an AI-native product |
| NanoNoble PTE. LTD. | Singapore | March 19, 2024 | Open Platform and AI-native products |
| MiniMax HongKong | Hong Kong | April 10, 2025 | Open Platform |
The Cayman parent also established a principal place of business in Hong Kong and registered there as a non-Hong Kong company on June 20, 2025. Its headquarters and principal PRC place of business remain at 11th Floor, Building B, Xinyan Mansion, No. 65 Guiqing Road, Xuhui District, Shanghai.
What products and models does MiniMax make?
MiniMax describes itself as a global AI foundation-model company. As of August 13, 2026, its official catalog listed MiniMax M3 and M2.7 as current language models; MiniMax-H3, announced July 31, 2026, as its current video model; Hailuo 2.3 and Hailuo 2.3 Fast under Legacy Models; Speech 2.8 for text to speech; and Music 3.0. Its product portfolio included MiniMax Code, MiniMax Design, MiniMax Audio, Talkie, Hailuo video tools, and an Open Platform for developers and enterprises.
Model and product names change faster than incorporation or founder information. For practical product routing, use the independent guide to using MiniMax AI. For the flagship language model listed when this page was verified, read the MiniMax M3 guide. Installation and store routes are covered separately in the MiniMax app and download guide.
MiniMax company timeline
| Date | Company milestone |
|---|---|
| June 2021 | Cayman parent incorporated. |
| November 2021 | Core Shanghai and Beijing R&D subsidiaries incorporated. |
| Early 2022 | Officially stated founding period. |
| April 2022 | First text model, abab1, launched. |
| May 2023 | Agreement with first API customer; abab5.5 launched. |
| June 2023 | Talkie launched. |
| August 2024 | Hailuo AI and Hailuo-01 video model launched. |
| January 9, 2026 | Class A shares listed on HKEX under stock code 0100. |
| March 18, 2026 | Stock short name changed to MINIMAX-W. |
| July 14, 2026 | Placement of 35.6 million new Class A shares completed. |
| July 16, 2026 | Issue of HK$6.5 billion zero-coupon convertible bonds completed. |
The July convertible bonds are debt unless and until they are converted into Class A shares. The company’s filing includes a hypothetical fully converted share count, but that scenario should not be reported as issued equity ownership.
Frequently asked questions
Who owns MiniMax AI?
MiniMax Group Inc. is publicly traded, so its shareholders own it economically. After the July 14, 2026 placement, Yan Junjie held 22.65% of the issued shares, new placement investors held 10.19%, and other shareholders held 67.16%. Yan retains voting control through multiple-vote Class B shares.
Is MiniMax owned by Alibaba?
No. Alibaba invested through Alisoft China Holding Limited and was a significant shareholder in the pre-IPO filings, but MiniMax is not an Alibaba subsidiary. The prospectus said Alisoft China was not involved in MiniMax’s daily operations and management.
Does Tencent own MiniMax?
Tencent invested through its wholly owned vehicle Image Frame Investment (HK) Limited. The prospectus recorded a 2.84% beneficial interest at the listing-application date. That made Tencent a documented investor, not the parent or controlling owner of MiniMax.
Who are the founders of MiniMax AI?
Official HKEX filings identify Dr. Yan Junjie and Ms. Yun Yeyi as the founders. Yan is Chairman, CEO and CTO. Yun is an executive director and COO.
Who is the CEO of MiniMax AI?
Dr. Yan Junjie is MiniMax’s chief executive officer. He also serves as founder, Chairman of the Board, executive director, and chief technology officer.
Is MiniMax AI Chinese?
Yes, in business origin and operating identity. MiniMax is headquartered in Shanghai and has core R&D subsidiaries in Shanghai and Beijing. Its listed parent is incorporated in the Cayman Islands, and its shares are listed in Hong Kong.
Is MiniMax AI publicly traded?
Yes. MiniMax Group Inc.’s Class A shares have traded on the Hong Kong Stock Exchange since January 9, 2026. The stock code is 0100, and the short name was MINIMAX-W when this page was verified.
Was MiniMax founded in 2021 or 2022?
MiniMax says the business was founded in early 2022. The Cayman parent and two early PRC operating subsidiaries were incorporated in 2021, which explains why some company databases display a 2021 date.
Is MiniMax listed in Shanghai?
No completed Shanghai listing had been announced when this page was verified. MiniMax is listed in Hong Kong. Its May 2026 STAR Market announcement described only a preliminary proposal that required further approvals and might not materialize.
Is MiniMax AI the same as the minimax algorithm?
No. MiniMax Group Inc. is an AI company and MiniMax is its brand. The minimax algorithm is a much older decision rule used in game theory, artificial intelligence, and optimization. Similar spelling does not indicate a corporate connection.
Official sources
- MiniMax Group Inc. listing prospectus — legal name, incorporation, headquarters, subsidiaries, pre-IPO investors, founders, and WVR terms.
- Final IPO offer price and allotment results — listing details and actual cornerstone allocations.
- 2025 annual results announcement — January 9, 2026 listing, IPO issuance, over-allotment, and product review.
- March 13, 2026 company announcement — founders, WVR beneficiaries, disclosed interests, and MINIMAX-W short name.
- Preliminary RMB-share proposal — status and caveats concerning a possible STAR Market listing.
- July 16, 2026 placement and convertible-bond completion announcement — the July issued share count and Yan Junjie’s 22.65% economic interest.
- MiniMax official management team — roles and biographies at verification.
- MiniMax official About page — company description and early-2022 founding statement.
- MiniMax official website — model and product directory at verification.
Source methodology: Corporate filings are used for legal identity, listing, share classes, and dated ownership figures. MiniMax’s official website is used for the product snapshot at verification. Because public-company ownership and product catalogs change, verify a material decision against the most recent HKEX filing and official MiniMax page. Nothing on this page is investment advice.
Next step: return to the MiniMax AI homepage, follow the product-routing guide, or read about MiniMax M3. For this website’s scope and limitations, see About and the disclaimer.