Overview
MiniMax Group Inc. (HKEX: 0100) Financial Statements FY2022-FY2026H1
MiniMax AI IPO Financial Statements - Complete Beancount accounting ledger with balance sheets, income statements, and transaction records. Open-source financial transparency. Ledger notes
Financial position
Net worth and the accounts that make it up
Money movement
Monthly income and spending by account category
Recent activity
Posting-aware activity from the journal
Income vs Expenses
Balance Sheet
Cash Flow
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MiniMax Group Inc. (HKEX: 0100) Financial Statements in Beancount — Open Ledger
MiniMax's income statement and balance sheet, FY2022 through FY2026H1, as a public, auditable plain-text Beancount ledger — reconstructed line by line from the company's own IPO prospectus and annual/interim reports (HKEX) filings and version-controlled in git. Part of the Open Ledger project on beancount.io.
Browse it live: beancount.io/ledger/open_ledger/minimax
Latest analysis: MiniMax H1 2026 Earnings: $116.6M Revenue, a $293.0M Adjusted Loss, and a New Balance Sheet
Key Figures
| Period | Period end | Revenue | Net income |
|---|---|---|---|
| FY2022 | 2022-12-31 | 0 | -73.728 |
| FY2023 | 2023-12-31 | 3.46 | -269.246 |
| FY2024 | 2024-12-31 | 30.523 | -465.238 |
| FY2025 | 2025-12-31 | 79.038 | -1,871.617 |
| FY2026H1 | — | — | — |
Amounts in MUSD (millions of US dollars), exactly as the ledger records them.
What's Inside
| Period | File | Source |
|---|---|---|
| FY2022 | FY2022/FY2022.bean | MiniMax Group Inc. IPO Prospectus (HKEX, dated 2025-12-31) |
| FY2023 | FY2023/FY2023.bean | MiniMax Group Inc. IPO Prospectus (HKEX, dated 2025-12-31) |
| FY2024 | FY2024/FY2024.bean | MiniMax Group Inc. IPO Prospectus (HKEX, dated 2025-12-31) |
| FY2025 | FY2025/FY2025.bean | MiniMax Group Inc. Annual Results Announcement for the Year Ended December 31, 2025 (audited) and FY2025 Annual Report (filed 2026-04-22) |
| FY2026H1 | FY2026/FY2026H1.bean | MiniMax Group Inc. Interim Results Announcement for the Six Months Ended June 30, 2026 (reviewed by Ernst & Young; unaudited), and the company's investor-relations results release dated August 26, 2026 |
Fiscal years end December 31; MiniMax is listed on the Hong Kong Stock Exchange (HKEX: 0100) and reports in USD thousands, kept as three decimals of MUSD. FY2022–FY2024 come from the IPO prospectus (Accountants' Report), FY2025 from the audited Annual Results Announcement and Annual Report, and FY2026H1 (six months ended June 30, 2026) from the Interim Results Announcement, reviewed and unaudited. MiniMax recorded no revenue in FY2022. It listed on January 9, 2026 — nine days after the FY2025 year-end — when its convertible redeemable preferred shares (the dominant liability in FY2022–FY2025) converted to ordinary equity, so FY2025 is the last balance sheet under the pre-Listing capital structure and FY2026H1 the first after it.
Quick Start
uvx --from beancount bean-check main.beanZero output means the ledger is internally consistent — every income statement sums to zero, and every balance-sheet snapshot below reconciles to MiniMax's own filed totals. The repo also ships a Makefile: make check runs the same validation in a local virtual environment (it needs uv), and make fava serves the ledger in Fava.
Methodology
- Balance sheet figures are asserted via
pad/balancedirectives against each period-end's filed financial statements (IPO prospectus Accountants' Report for FY2022–FY2024; Annual Results Announcement / Annual Report for FY2025; Interim Results Announcement for FY2026H1) — see the source comment at the top of each period file. - Income statement for each period is a single zero-sum transaction:
Incomeaccounts are negative (credit),Expensespositive (debit), with the arithmetic check shown in a comment directly above the transaction. - Fair value losses on the convertible redeemable preferred shares get a dedicated account (
Expenses:FairValueLossOnFinancialLiabilities) rather than being folded into other expenses — under IFRS this non-cash remeasurement is the single largest driver of MiniMax's reported net loss, and it disappears entirely once the shares convert to equity at Listing. - All amounts are in
MUSD(millions of US dollars);79.038 MUSDmeans $79.038 million.
Analysis
- MiniMax H1 2026 Earnings: $116.6M Revenue, a $293.0M Adjusted Loss, and a New Balance Sheet — FY2026H1
- MiniMax FY2025 Earnings: $79M in Revenue, and a $1.9 Billion Loss That Isn't What It Looks Like — FY2025
Corrections
Found a figure that does not match the filing? Email
[email protected] with the period, the account
and the filing page. Corrections are committed with the source cited.
About Open Ledger
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published as plain-text accounting at
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across companies, and auditable against primary filings. Read the analysis
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Disclaimer
This ledger is an independent reconstruction of MiniMax Group Inc.'s publicly filed
financial statements, provided for educational and informational purposes
only. It is not investment, financial, legal, tax, or accounting advice, and
is not an offer or recommendation to buy or sell any security. Beancount.io is
not affiliated with, endorsed by, or sponsored by MiniMax Group Inc.; all trademarks
belong to their respective owners. Figures may contain errors, omissions, or
simplifications and may lag the latest filings — the company's own regulatory
filings are the authoritative source. Provided "as is" without warranty of any
kind; use at your own risk.