MiniMax Group Inc. (HKEX: 0100) Financial Statements FY2022-FY2026H1

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

Amounts in MUSD (millions of US dollars), exactly as the ledger records them.

What's Inside

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.bean

Zero 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/balance directives 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: Income accounts are negative (credit), Expenses positive (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 MUSD means $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

Open Ledger is a growing library of public-company financial statements
published as plain-text accounting at
beancount.io/ledger — git-versioned, diffable
across companies, and auditable against primary filings. Read the analysis
behind the numbers on the beancount.io blog.

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.